# Daido Steel to acquire TimkenSteel's Chinese sales entity

Daido Steel Co., Ltd. and its subsidiary Daido Steel (Shanghai) Co., Ltd. have signed an agreement to purchase the registered capital of TimkenSteel (Shanghai) Corporation Ltd., a sales entity with technical support functions in China, from TimkenSteel Corporation. The acquisition aims to strengthen Daido Steel's supply chain and customer support for SBQ products in China.

- Type: Acquisition
- Announced: 2021-04-26
- Where: Shanghai, China
- Value: $7.00M
- Status: announced
- Products: specialty steels, SBQ products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [TimkenSteel](https://endata.com/companies/22723.md)
- [TimkenSteel](https://endata.com/companies/22723.md) (target)
- [Daido Steel](https://endata.com/companies/27636.md) (acquirer)
- [Daido Steel (Shanghai) Co., Ltd.](https://endata.com/companies/54690.md) (acquirer)
- [TimkenSteel (Shanghai) Corporation Ltd.](https://endata.com/companies/54691.md) (target)

## Sources

- [daido.co.jp](https://www.daido.co.jp/en/about/release/2021/0426_tss.html), 2021-04-26: "Daido Steel Co., Ltd. and Daido Steel (Shanghai) Co., Ltd. have signed an agreement with TimkenSteel Corporation regarding the purchase and sale of the registered capital of TimkenSteel (Shanghai) Corporation Ltd."
- [investors.metallus.com](https://investors.metallus.com/news/news-details/2021/TimkenSteel-Enters-into-an-Agreement-to-Sell-TimkenSteel-Shanghai-Corporation-Limited-to-Daido-Steel/default.aspx), 2021-04-26: "With this arrangement, Daido will move from a valued supplier to a key authorized distributor of TimkenSteel products in China."
- [daidodmsv.com](https://www.daidodmsv.com/agreement-to-purchase-the-registered-capital-of-a-chinese-business-entity/), 2021-06-10: "Daido Steel Co., Ltd. and Daido Steel (Shanghai) Co., Ltd. have signed an agreement with TimkenSteel Corporation regarding the purchase and sale of the registered capital of TimkenSteel (Shanghai) Corporation Ltd."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.