Timken Co., an industrial bearing and steel maker, is hoping to expand its ability to offer steel to a broader range of customers in Asia after signing an agreement with Daido Steel Co.
According to the agreement, specialty steel products will be manufactured by Daido to Timken specifications. Highly engineered steel is not widely available in the Asia region, yet its demand is skyrocketing. The pact paves the way for Timken to enter this market.
Under a five-year agreement, Daido will manufacture specialty steel products, but the finished products will still carry the Timken brand and be marketed, sold and distributed by Timken’s sales force and distributors.
Daido manufactures specialty steel products and components for automobiles as well as industrial and electrical machinery.