In line with Sidenor Group’s export strategy and its commitment to enhance its product portfolio, a technical assistance agreement has been signed between Stomana Industry, the Group’s 100% subsidiary in Bulgaria, and the Japanese Daido Steel Co Ltd.
The agreement specifies the terms of the technical assistance Daido Steel will provide to further develop the special steels (SBQ) operations of Stomana Industry targeting industrial sectors, such as the automotive industry, and of consulting services to be provided in relation to the installation of degassing equipment.
Daido Steel is one of the world’s largest specialty steel manufacturers. Along with the manufacturing of value-added steel, Daido Steel provides services and solutions for a wide range of high-end market sectors and customers, including major Japanese auto makers. It also produces motor vehicle parts and accessories, electronic and magnetic materials, industrial equipment and innovative materials (powder metals, superalloys, etc.).
The agreement will allow Stomana Industry, the only Electric Arc Furnace (EAF) steel maker in Bulgaria with a long experience in steel manufacturing and continuous investments in new equipment and in technology development, to become a major SBQ supplier in Central and Eastern Europe.