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Toray Industries is a producer of synthetic fibers and textiles, films, resins, chemicals, and plastics. Both the companies are based in Japan.
Toray Industries will contribute capital into Tonen Specialty Separator Godo Kaisha. Tonen Specialty Separator is 100% owned by subsidiaries of TonenGeneral Sekiyu.
The joint venture will combine TonenGeneral's lithium ion BSF business expertise and technology and Toray Industries' plastic film processing precision technology and polymer science technology.
Citigroup, Inc. is acting as financial advisor to ExxonMobil Chemical Company, the holding company of TonenGeneral Sekiyu, on this transaction.
The proposed joint venture is expected to form in January 2010.
Deal Type Partnership Sub-Category Joint Venture Deal Status Announced: 2009-11-04
Deal Participants
Partner 1 (Company) Toray Industries, Inc. Partner 2 (Company) TonenGeneral Sekiyu Kabushiki Kaisha
Deal Rationale
The joint venture will accelerate the development of battery separator film technology in lithium ion battery market.
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