(RTTNews) -  Exxon Mobil Corp.'s (XOM: News ) ExxonMobil Chemical said its affiliate TonenGeneral and Toray Industries have agreed to establish a global joint venture for the battery separator film business. It will develop, manufacture and sell lithium ion battery, or LIB, separator film and introduce next-generation films to the market.

The joint venture will combine Toray's plastic film processing and polymer science capabilities with Tonen's existing lithium ion battery separator film business and technology.
Detailed agreements are being prepared in anticipation of the joint venture formation in January 2010. TonenGeneral and Toray Industries will each hold a 50 percent interest in the joint venture, with headquarters located in Tokyo.

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by RTT Staff Writer

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