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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.
TimkenSteel commissioned new production lines at its St. Clair facility in Eaton, Ohio, as part of an $8.98 million reinvestment project, adding at least a dozen jobs.
TimkenSteel plans to invest $9 million in its Eaton, Ohio facility to increase capacity and bring outsourced operations in-house, creating 12-14 new jobs by the end of June 2017.
| Site | Largest | Latest |
|---|---|---|
| Eaton, United States | $9.00M | 2017-11-07 |