Exxon Mobil affiliate TonenGeneral to form joint venture with Toray Industries
Associated Press
11/04/09 9:20 AM EST
HOUSTON — Exxon Mobil Chemical Co., one of the world's biggest petrochemical companies, said its affiliate TonenGeneral and Toray Industries will establish a joint venture to develop, manufacture and sell lithium ion battery separator film and introduce next generation films to the market.
The film, with lithium-ion batteries, allows for the units to operate at higher temperatures with a reduced risk of meltdown.
The partnership will combine Toray's plastic film processing and polymer science capabilities with Tonen's existing lithium ion battery separator film business and technology. Each company will own a 50 percent interest in the joint venture, with headquarters located in Tokyo.
The companies said that detailed agreements are being prepared in anticipation of the joint venture formation in January 2010.
