Daido Steel completed the acquisition of the Chinese subsidiary of TimkenSteel.

Daido Steel, one of the world's largest specialty steel manufacturers, completed the acquisition of the Chinese subsidiary of TimkenSteel, a steel manufacturer of world-class, custom clean steel that advances critical products in the world's most demanding applications. Financial terms were not disclosed. By signing this agreement, Daido Steel is planning to further strengthen the joint work relationship with TimkenSteel.