The Timken Company announced an expanded ability to offer its high-performance, premium-engineered steel solutions to customers in Asia, establishing production within the region through an arrangement with Daido Steel Co. Ltd. According to the agreement, Daido will manufacture specialty-steel products according to Timken specifications. This will allow Timken to broaden service to industrial customers throughout Asia, where highly engineered, specialty steel is not widely available and demand for it continues to grow. Under an initial five-year agreement, Daido will manufacture high-performance steel as specified by Timken. Those finished products will carry the Timken brand and will be marketed, sold and distributed by The Timken Company’s sales force and its authorized distributors in Asia.
This is the second collaboration between Timken and Daido Steel, a Japan-based steelmaker. In 2006, the two companies initiated collaboration on technical aspects of Timken’s small bar mill commissioned last year in Canton, Ohio. Japan-based Daido Steel excels in the manufacture of specialty-steel products and components for automobiles as well as industrial and electrical machinery. Timken has operations in 26 countries.