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Toray Buys ExxonMobil out of Battery Separator JV

2:41 AM MST | January 20, 2012 | Deepti Ramesh

Toray Industries says it has decided to purchase the shares it does not own in Toray Tonen Specialty Separator Godo Kaisha (Nasushiobara, Japan), a 50-50 battery separator film joint venture with TonenGeneral Sekiyu (Tokyo), part of the ExxonMobil group. Toray Tonen Specialty Separator was formed in January 2010, and Tonen Chemical Corp. and Tonen Chemical Nasu Corp. - subsidiaries of TonenGeneral Sekiyu-, held 25% each in the jv. The acquisition of the remaining stake will be completed by January 31, and the company will be renamed Toray Battery Separator Film...

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