HOUSTON--(BUSINESS WIRE)--
ExxonMobil Chemical's 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
(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. It will build on ExxonMobil's
more than 20 years of experience and success in providing separator
films, including for use in the personal electronics market, as well as
support the development of future LIB applications in hybrid-electric
and electric vehicles.
"We believe the joint venture will accelerate the development of
separator film technology to support the rapidly evolving lithium ion
battery market faster than either company could do alone," said Jim P.
Harris, senior vice president ExxonMobil Chemical Company.
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.
"We are confident that Toray's innovative ideas and technologies will
enhance the capability of the joint venture to capture growth and meet
the needs of the growing LIB market," said Sadayuki Sakakibara,
President, CEO and COO, Toray Industries Inc.
About ExxonMobil Chemical
ExxonMobil Chemical is a global leader in technology, product quality
and customer service with petrochemical manufacturing and/or marketing
operations around the world. For more information visit: www.exxonmobilchemical.com.
About TonenGeneral
TonenGeneral is an ExxonMobil affiliate and one of the world's largest
producers of separator film for lithium-ion batteries, and is a major
manufacturer and marketer in Japan of petroleum fuels, lubricants and
petrochemicals. TonenGeneral Sekiyu K.K. is listed on the 1st Section of
the Tokyo Stock Exchange. For more information visit: http://www.tonengeneral.co.jp/apps/tonengeneral/english/index.html.
About Toray Industries
Toray Group is an integrated chemical industry group developing its
business in 21 countries and regions worldwide.
Toray Group fuses nanotechnology into its operations, using organic
synthetic chemistry, polymer chemistry and biochemistry as its core
technologies. In addition to the Foundation Businesses of fibers &
textiles and plastics & chemicals, Toray likewise promotes the global
development of IT-related products, carbon fiber composite materials,
pharmaceuticals and medical products, and environment & engineering
including water treatment and progress in other pivotal business fields.
For more information, visit http://www.toray.com.
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Note to Editors:
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1.
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The term "ExxonMobil Chemical" refers collectively to some or all of
the companies affiliated with Exxon Mobil Corporation, and/or
itself, which have chemical manufacturing and/or marketing
operations around the world.
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2.
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The term "TonenGeneral" refers collectively to some or all of the
companies affiliated with TonenGeneral Sekiyu K.K., and/or itself.
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ExxonMobil Chemical
Jeff Neu, 281-870-6607
Source: ExxonMobil Chemical
<<Business Wire -- 11/05/2009>>
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