Timken Collaborates with Daido to Expand in Asia
09/03/2009 - The Timken Co. is now able to more readily offer its high-performance, premium engineered steel solutions to customers in Asia thanks to an initial five-year agreement with Daido Steel Co. Ltd.
The Timken Co. is now able to more readily offer its high-performance, premium engineered steel solutions to customers in Asia thanks to an initial five-year agreement with Daido Steel Co. Ltd.
Daido, a Nagoya, Japan-based steelmaker, will manufacture specialty steel products according to Timken specifications. Those finished products will carry the Timken brand and be marketed, sold, and distributed by The Timken Co.’s sales force and its authorized distributors in Asia.
The deal enables Canton, Ohio-based Timken to broaden service to industrial customers throughout Asia, where such highly engineered, specialty steel is in high demand but not widely available.
“This is a fast-track approach to accelerate the growth of our steel business while building the Timken brand further in Asia,” said Salvatore J. Miraglia Jr., President of Timken’s Steel Group. “It will allow us to capitalize on more of the growth opportunities we see in the Asian market, bringing all of the technical expertise Timken is known for, with the added advantage of Daido’s state-of-the-art manufacturing facilities in the region. For customers in Asia, this local proximity is most desirable and necessary to ensure timely, reliable service."
“This is a positive development to serve a wider field of industrial opportunity in Asia where the demand for high-quality steel is growing,” added Tadashi Shimao, Executive Vice President of Daido Steel Co., Ltd. “In addition to this agreement working with Timken, we will continue to serve our own Japanese customer base with our product offering.”
Daido Steel and Timken have collaborated once before; in 2006, the two companies worked together on technical aspects of Timken’s new small bar mill commissioned last year in Canton.
