Shanghai, China—September 3th 2009—Timken announced that they would make coorperation with Japan Daido Steel Ltd in order to provide operational capability of high quality’s solution for Asian customs.
Two companys subscribe the cooperational agreement today. According to this agreement, Japan Daido Steel will manufacture the steel as the requirement of Timken’s production standard. In Asian area, high special steel’s demand is rising day by day, but market is in short supply. This agreement will make Timken providing service for more Asian customs.
This is the second cooperation with Daido Steel. In 2006, two company have their first cooperative relationship, they worked together about technic in Timken’s mini continuous bar rolling factory in Ohio, which has gone into production last year.
“This is a fast way to expedite our steel business increasing, and more extend Timken brand effect in Asia.” Mr Salvatore J. Miraglia Jr, the president of Timken said, “It will help us catch more increasing chances of Asia market, furthermore, we combien Timken’s professional knowledge which is wellknowen in industry with Daido Steel’s capacity of production advantage. For our Asian custom, this “area advantage” is necessary to insure timely effective and reliant service.”
Base on the first five year cooperational agreement, Daido Steel will product hige quality steel according to the Timken’s production standard. The steel products will use Timken brand, and their promotion and sell will be charged by Timken’s sells group and authorized agents in Asia.