Exhibit 8.1

Subsidiaries of the Company as at December 30, 2006

Details of the Companys principal trading
subsidiaries and associates as at December 30, 2006 are set out below. Each entity is wholly owned by the Group unless otherwise stated.



|                                           |  |                 |  |                                                 |  |            
|------------------------------------------ |  | --------------- |  | ----------------------------------------------- |  | -----------
|Building Products                          |  |                 |  |                                                 |  |            
|                                           |  |                 | 
|Air System Components LP                   |  | (USA)           |  | Philips Products Inc                            |  | (USA)      
|Aquatic Industries Inc                     |  | (USA)           |  | Ruskin Company                                  |  | (USA)      
|Hart & Cooley Inc                          |  | (USA)           |  | Ruskin Air Management Ltd                       |  | (UK)       
|Lasco Bathware Inc                         |  | (USA)           |  | Ruskin (Thailand) Company Ltd                   |  | (Thailand) 
|NRG Industries, Inc                        |  | (USA)           |  | Selkirk Americas, L.P.                          |  | (USA)      
|                                           |  |                 | 
|Industrial & Automotive                    |  |                 |  |                                                 |  |            
|                                           |  |                 | 
|Dearborn Mid-West Conveyor Company         |  | (USA)           |  | Gates Unitta Power Transmission (Shanghai) Ltd  |  |            
|Dexter Axle Company Inc                    |  | (USA)           |  | (ordinary shares  51% owned)                   |  | (China)    
|Dongfeng-Fuji-Thomson Thermostat Co. Ltd * |  |                 |  | Gates Unitta Power Transmission (Suzhou) Ltd    |  |            
|(ordinary shares  32% owned)              |  | (China)         |  | (ordinary shares  51% owned)                   |  | (China)    
|Eifeler Maschinenbau GmbH                  |  | (Germany)       |  | Gates Unitta (Thailand) Company Ltd.            |  |            
|Formflo Ltd                                |  | (UK)            |  | (ordinary shares  51% owned)                   |  | (Thailand) 
|Gates GmbH                                 |  | (Germany)       |  | Gates Winhere Automotive Pump Products          |  |            
|Gates SA                                   |  | (France)        |  | (Yantai) Co Ltd                                 |  |            
|Gates Argentina SA                         |  | (Argentina)     |  | (ordinary shares  60% owned)                   |  | (China)    
|Gates Australia Pty Ltd                    |  | (Australia)     |  | Ideal                                           |  | (USA)      
|Gates do Brasil Industria e Comercio Ltda  |  | (Brazil)        |  | Ideal International SA*                         |  |            
|Gates Canada Inc                           |  | (Canada)        |  | (ordinary shares  40% owned)                   |  | (Mexico)   
|Gates Europe NV                            |  | (Belgium)       |  | L.E. Technologies LLC                           |  | (USA)      
|Gates Fleximak Ltd                         |  | (British Virgin |  | Plews/Edelmann                                  |  | (USA)      
|                                           |  | Islands)        |  | Pyung Hwa CMB Co Ltd *                          |  |            
|Gates (India) Private Ltd                  |  | (India)         |  | (ordinary shares  21% owned)                   |  | (Korea)    
|Gates Korea Company Ltd                    |  |                 |  | Schrader SA                                     |  | (France)   
|(ordinary shares51% owned)                |  | (Korea)         |  | Schrader Bridgeport Brasil Ltda                 |  | (Brazil)   
|Gates Mectrol Inc                          |  | (USA)           |  | Schrader-Bridgeport International Inc           |  | (USA)      
|Gates Polska S.p.z.o.o.                    |  | (Poland)        |  | Schrader Duncan Ltd *                           |  |            
|Gates PT Spain, SA                         |  | (Spain)         |  | (ordinary shares  50% owned)                   |  | (India)    
|The Gates Rubber Company                   |  | (USA)           |  | Schrader Electronics Ltd                        |  | (Northern  
|Gates Rubber Company (NSW) Pty Ltd         |  | (Australia)     |  |                                                 |  | Ireland)   
|Gates Rubber Company (Singapore) Pte Ltd   |  | (Singapore)     |  | Schrader  Lu Hai Rubber Metal (Kunshan) Co Ltd |  |            
|Gates Rubber de Mexico SA de CV            |  | (Mexico)        |  | (ordinary shares  60% owned)                   |  | (China)    
|Gates Rubber (Shanghai) Co Ltd             |  | (China)         |  | Stackpole Ltd                                   |  | (Canada)   
|Gates (U.K.) Ltd                           |  | (Scotland)      |  | Standard-Thomson Corporation                    |  | (USA)      
|Gates Unitta Asia Company Ltd              |  |                 |  | Stant Manufacturing, Inc                        |  | (USA)      
|(ordinary shares  51% owned)              |  | (Japan)         |  | Trico Ltd                                       |  | (UK)       
|Gates Unitta Asia Trading Company Pte Ltd  |  |                 |  | Trico Latinoamericana, SA                       |  | (Argentina)
|(ordinary shares  51% owned)              |  | (Singapore)     |  | Trico Products Corporation                      |  | (USA)      
|Gates Unitta India Private Company Ltd     |  |                 |  | Trico Pty Ltd                                   |  | (Australia)
|(ordinary shares  51% owned)              |  | (India)         |  |                                                 |  |            
|Gates Unitta Korea Company Ltd             |  |                 |  |                                                 |  |            
|(ordinary shares  51% owned)              |  | (Korea)         |  |                                                 |  |            

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|* | Associated undertaking
|- | ----------------------