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March 4, 2008

Gates Corp. Buys Singapore Supplier

Gates Corp.'s parent company Tomkins plc has acquired A.E. Hydraulic (Pte) Ltd., a provider of hydraulic and industrial hose for the oil exploration industry in Asia. The acquisition builds on Tomkins' Fleximak business and enables Gates to accelerate its market expansion into oil and gas.
 
A.E. Hydraulic is based in Singapore and had annual sales of US$14.3 million in 2007.
 
“A.E. Hydraulic (Pte) Ltd. provides our Gates business with a distribution network through which we can channel some of our other hose and fittings products, while building out our service platform in the high growth market for oil and gas exploration,” said James Nicol, Tomkins CEO.
 
Tomkins is a global engineering and machinery group with two business groups: Industrial & Automotive and Building Products.

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