This does not look good, first the Chinese and now Exxon are targeting major moves. Any comments?
--------------------------------------
NOVEMBER 4, 2009, 9:02 A.M. ET
Exxon Launches Joint Battery Venture With Toray Industies
Wall Street Journal Business

Exxon Mobil Chemical's affiliate TonenGeneral said Wednesday it's launching a 50-50 joint venture with Toray Industries Inc. (3402.TO, TRYIY) to develop products for the battery separator film business. 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. Terms of the deal were not disclosed. TonenGeneral and Toray Industries will each hold a 50% interest in the joint venture, with headquarters located in Tokyo.

-Steve Gelsi; 415-439-6400; AskNewswires@dowjones.com