TonenGeneral Sekiyu KK and Toray Industries Inc say they have concluded a basic agreement to start a 50:50 joint venture (JV) in battery separator film (BSF) through a new contribution of capital by Toray Industries into Tonen Specialty Separator Godo Kaisha, in which TonenGeneral Sekiyu currently holds a 100% interest through fully-owned subsidiaries Tonen Chemical Corp and Tonen Chemical Nasu Corp.
The objective of the JV is to accelerate the development of battery separator film technology to support the rapidly evolving lithium ion battery market. The JV will combine ExxonMobil/TonenGeneral's lithium ion BSF business expertise and technology and Toray Industries' plastic film processing precision technology and polymer science technology, to develop, manufacture and sell lithium ion battery separator film.
BSF technology and products that customers use today will continue to be supplied in the future. The JV will have its own R&D and technology resources, but will also draw on those of TonenGeneral Sekiyu and Toray Industries in separator film, plastic film precision processing, and polymer science.
Detailed agreements are under review and the JV is expected to form in January 2010.
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