TimkeenSteel Corp. has signed a three-year renewal of a commercial agreement with Daido Steel Co. Ltd. to serve customers in Asia. The agreement enables Daido, a leading steelmaker based in Japan, to melt steel according to TimkenSteel specifications for a growing base of high-performance industrial, bearings and energy applications in that region.

Tadashi Shimao, president and CEO of Daido Steel, and Tim Timken, chairman, president and CEO of TimkenSteel, signed the agreement Thursday at TimkenSteel's corporate offices in Canton.

Under the agreement, Daido will manufacture high-performance steel as specified by TimkenSteel. Those finished products will carry the TimkenSteel brand, and will be marketed, sold and distributed by TimkenSteel's sales force and its authorized distributors in Asia. TimkenSteel has collaborated with Daido Steel since 2006.

Tadashi Shimao, president and CEO of Daido Steel, and Tim Timken, chairman, president and CEO of TimkenSteel