PRESS RELEASE - Gates Corporation acquires ENZED-Fleximak Ltd.

August 4, 2006

Gates Corporation acquires ENZED-Fleximak Ltd.

Denver, Colorado - Gates Corporation is pleased to announce its
acquisition of ENZED-Fleximak Ltd.  

Since 1985, when ENZED-Fleximak first began operating in the United Arab
Emirates, the company has provided customers from a broad set of
industries with a comprehensive range of engineering, fabrication,
testing and service operations for flexible fluid transfer products in
the rapidly developing Arabian Gulf region.  Founded and headquartered
in Dubai, United Arab Emirates, ENZED-Fleximak has expanded to seven
locations, including branches in Jebel Ali and Abu Dhabi, UAE; Doha,
Qatar; and Dammam and Jubail, Saudi Arabia.  The collective market size
for fluid power transfer products in this region is estimated to be
worth around US$160 million per annum. By allowing Gates to accelerate
its market penetration for fluid power products in this high-growth
market and to expand the distribution of its power transmission
products, ENZED-Fleximak will be a strategic addition to Gates
Corporation.

"As an established leader in this vibrant and growing market,
ENZED-Fleximak is uniquely positioned to serve diverse industry needs,
and is a natural addition to Gates presence in the Gulf area.  The
acquisition creates new opportunities for Gates to enter the market with
hose and fittings as well as assembly and mobile services," said Gates
Corporation President, Richard Bell. 

Colin Gorton, ENZED-Fleximak General Manager, said, "The alignment with
Gates will give us a great opportunity to accelerate growth in the
region and further enhance customer satisfaction." 

"I am delighted to be associated with an internationally respected
company like Gates. This move will give us ready access to Gates
high-performance design, development and testing resources, which will
significantly expand our potential product offering to our valued
customers," added Kim Henderson, ENZED Operations Manager.

     Both Gorton and Henderson, will remain at the company, and will be
deeply involved in its integration with Gates Corporation.

 

About Gates Corporation

          Gates Corporation is the largest non-tire rubber manufacturer
of automotive and industrial products, systems and components in North
America. Gates maintains sales and marketing operations in every major
automotive and industrial market, including North America, Europe, Asia,
Australia and South America. Gates is part of the Industrial and
Automotive Group of Tomkins plc. Headquartered in London, Tomkins is a
publicly-traded company (NYSE) with 37,000 employees worldwide.

 

About ENZED-Fleximak

ENZED maintains branches that have engineering services, inventory and
service centers with individual fleets of mobile service vans; ENZED is
also supported by Fleximak Ltd., its sister company.  The company has
been operating in the Middle East region since 1985.

 

Online resources:

ENZED-Fleximak                                  www.fleximak.com
<http://www.fleximak.com/> 

Gates Corporation                                  www.gates.com
<http://www.gates.com/> 

Tomkins plc                                            www.tomkins.co.uk
<http://www.tomkins.co.uk/> 

 

 

For more information contact:

 

Meg VanderLaan, Gates Corporation PR, 303-744-5559 or 
mvanderlaan@gates.com

Colin Gorton, ENZED-Fleximak,   c.gorton@enzed-me.com or 
info@fleximak.com

 

 

 

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Lynea Hansen

950 Seventeenth Street, Suite 1750 (NEW ADDRESS)

Denver, CO 80202

(303) 534-4399

(303) 534-4328 fax

(303) 579-8794 cell