Daido Steel Eyes Technical Tie-up with Indian Maker

Daido Steel will enter technical partnership with Indian special steel maker. Daido Steel tries to develop Indian market through tie-up with local maker to meet growing demand when Japanese automakers expand local presence. Daido Steel also expands Chinese business when the firm plans to launch local company in Shanghai in August. The firm tries to follow demand growth in emerging countries by developing new materials for nuclear power plant under the strategy to follow Asian growth.

Daido Steel’s new president Tadashi Shimao said the offshore strategy at the speech during reception to introduce the new management including new chairman Masatoshi Ozawa in Tokyo on Wednesday. Mr. Shimao said the firm has experiences for technology support for Indian makers and the firm tries to get Indian partner for technical cooperation. Daido Steel will improve the local maker’s quality and cost competitiveness to serve local users including transplants of Japanese manufacturers.