Daido Steel Accelerates Shifting to High Valued Products

Daido Steel tries to shift to higher valued products in order to improve the competitiveness under the 3-year mid-term business plan to fiscal 2008 ending March 2009. The firm will expand the output capacity with expectation the special steel demand will increase by annual 4%. The firm increases the continuous casting rate to 100% when the firm increases the output capacity by 12-13% at Chita plant through launching large diameter casting machine and debottlenecking at rolling line. With the large diameter casting machine, the firm tries to shift to high valued products for tool steel and super heat resistance steel. The firm started cold finished tool steel sales in USA through International Mold Steel. The firm also established 5-site supply network in China. The firm tries to expand the sales force in Vietnam and India. The firm considers building supply site for automotive transmission materials in USA when automakers try to increase the local procurement. The firm tries to develop heat resistance steel to meet demand for diesel engine vehicle.