Chemical companies LG Chem and Toray Industries to form a joint venture LG Toray Hungary Battery Separator, a battery separator film, in a $375m deal. To cater to projected demand growth, Toray and LG Chem have agreed to expand film substrate production facilities and install new coating facilities at the existing THU location. Toray has agreed to sell 20% of its stake in LTHS to LG Chem two and a half years after launching the joint venture. LG Chem would then manage joint venture operations.