GTES - Gates Industrial Continues Restructuring Amid Lower Industrial Demand
Quick Take
Gates Industrial Plc (GTES) has recently reported financial results for its quarter ended June 30, 2019.
The company manufactures power transmission and fluid power systems for numerous industries.
GTES’ stock has performed poorly since the IPO due to demand reduction amid global trade headwinds and reduced industrial production.
Management is restructuring the business and adding capacity in some segments as it takes a long-term approach to rationalizing business operations in a challenging environment.
Company & Business
Denver, Colorado-based Gates was founded in 1911 and develops highly engineered power transmission motion control