Daido Steel Reshuffles China Sales Network

Daido Steel and its trading subsidiary, Daido Kogyo try to expand Chinese business through better cooperation of the group companies. They launched new company, Daido Steel (Shanghai) in January to integrate Daido Kogyo’s Chinese subsidiary and Daido Steel’s Shanghai office and expand the business. The new company reshuffles existing Chinese offices of Daido Steel and Daido Kogyo into the new company’s branches in Guangzhou and Dalian.

Daido Steel paid US$ 1.98 million on April 20 to control 51% shares of Daido Steel (Shanghai) with US$ 3.88 million of capital. Daido Kogyo has 49% shares of the Shanghai based company.

Daido Steel (Shanghai) sells special steel, forging products and heat treatment furnace by developing the market in China. Daido Steel and Daido Kogyo expect the Shanghai based company develops material supply source. The firm provides support to strengthen Daido Steel group business.