Toray Buys ExxonMobil Out of Battery Separator JV

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 (BSF) 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.—both subsidiaries of TonenGeneral Sekiyu—each hold 25% of the jv. Toray’s acquisition of the remaining shares will be completed by January 31, and the company will be renamed...

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