TimkenSteel Corp. has renewed a commercial agreement with Daido Steel Co. Ltd. for a period of three years. The agreement enables Daido, a steelmaker based in Japan, to melt steel according to TimkenSteel specifications for a growing base of high-performance industrial, bearings and energy applications in that region. TimkenSteel has collaborated with Daido Steel since 2006.
Photo courtesy of TimkenSteel Corp.
Tadashi Shimao, president and CEO of Daido Steel, and Tim Timken, chairperson, president and CEO of TimkenSteel, signed the agreement at TimkenSteel’s corporate offices in Canton. Under the agreement, Daido will manufacture high-performance steel as specified by TimkenSteel. The finished products will carry the TimkenSteel brand, and will be marketed, sold and distributed by TimkenSteel’s sales force and its authorised distributors in Asia.