Pinafore Holdings B.V.



Exhibit 8.1

Principal trading subsidiaries of the Company as at December 31, 2012

Details of the Companys principal trading subsidiaries as at December 31, 2012 are set out below. Each entity is wholly owned by the Group unless otherwise stated.



|                                                                           |  |                  |  |                                                          |  |            
|-------------------------------------------------------------------------- |  | ---------------- |  | -------------------------------------------------------- |  | -----------
|Aquatic Co.                                                                |  | (USA)            |  | Gates PT Spain SA                                        |  | (Spain)    
|Conexiones Hidraulics, S.A. de C.V.                                        |  | (Mexico)         |  | Gates Rubber Company (S) Pte. Ltd                        |  | (Singapore)
|Eifeler Maschinenbau GmbH                                                  |  | (Germany)        |  | The Gates Corporation                                    |  | (USA)      
|Gates E & S North America, Inc.                                            |  | (USA)            |  | Gates de Mexico S.A. de C.V.                             |  | (Mexico)   
|Gates Engineering & Services Pte. Ltd.                                     |  | (Singapore)      |  | Gates (U.K.) Limited                                     |  | (Scotland) 
|Gates GmbH                                                                 |  | (Germany)        |  | Gates Unitta Asia Kabushikikaisha                        |  |            
|Gates S.A.S                                                                |  | (France)         |  | (51% owned)                                              |  | (Japan)    
|Gates Argentina SA                                                         |  | (Argentina)      |  | Gates Unitta Asia Trading Company Pte. Ltd.              |  |            
|Gates Australia Pty Ltd                                                    |  | (Australia)      |  | (51% owned)                                              |  | (Singapore)
|Gates do Brasil Industria e Comercio Ltda                                  |  | (Brazil)         |  | Gates Unitta India Company Private Limited               |  |            
|Gates Canada Inc.                                                          |  | (Canada)         |  | (51% owned)                                              |  | (India)    
|Gates Europe BVBA                                                          |  | (Belgium)        |  | Gates Unitta Korea Co. Ltd.                              |  |            
|Gates Fluid Power Technologies (Changzhou) Co. Ltd.                        |  | (China)          |  | (51% owned)                                              |  | (Korea)    
|Gates France S.a.r.l                                                       |  | (France)         |  | Gates Unitta Power Transmission (Shanghai) Ltd           |  |            
|Gates S.r.l.                                                               |  | (Italy)          |  | (51% owned)                                              |  | (China)    
|Gates Hydraulics s.r.o.                                                    |  | (Czech Republic) |  | Gates Unitta Power Transmission (Suzhou) Ltd.            |  |            
|Gates CIS LLC                                                              |  | (Russia)         |  | (51% owned)                                              |  | (China)    
|Gates EMB Trading (Shanghai) Co. Ltd.                                      |  | (China)          |  | Gates Unitta (Thailand) Co. Ltd.                         |  |            
|Gates Engineering & Services FZCO                                          |  | (UAE)            |  | (51% owned)                                              |  | (Thailand) 
|Gates Engineering & Services Hamriyah FZE                                  |  | (UAE)            |  | Gates Winhere Automotive Pump Products (Yantai) Co. Ltd. |  |            
|Gates India Private Limited                                                |  | (India)          |  | (60% owned)                                              |  | (China)    
|Gates Korea Company, Ltd.                                                  |  |                  |  |                                                          |  |            
|(51% owned)                                                                |  | (Korea)          |  |                                                          |  |            
|Gates Mectrol, Inc.                                                        |  | (USA)            |  |                                                          |  |            
|Gates Polska Sp.zo.o.                                                      |  | (Poland)         |  |                                                          |  |            
|Gates Powertrain Plastik Metal ve
Makina Sanayi ve Ticaret Limited Sirketi |  |                  |  |                                                          |  |            
|(50% owned)                                                                |  | (Turkey)         |  |                                                          |  |            
|                                                                           |  |                  |  |                                                          |  |