Toray, LG Chem to form battery separator joint venture in Hungary

Economy

Japanese chemical giant Toray Industries Inc. will form a joint venture in Hungary with South Korea's LG Chem Ltd. to make battery separator films for automotive lithium-ion batteries. The Tokyo-based firm sealed the joint venture deal with the Seoul-based battery material company via an online signing ceremony on Wednesday. Under the agreement, LG Chem will invest $375 million in Toray Industries Hungary Kft., a fully owned Toray subsidiary engaged in production and sales of battery separator films, and Toray and LG Chem will turn the subsidiary into an equally owned joint venture in the firs...

Kyodo News

Kyodo News