The European Commission Friday cleared Japan's Toray Industries Inc. (3402.TO) and an affiliate of Exxon Mobil Corp. (XOM) to set up a joint venture called Tonen Specialty Separator Godo Kaisha.

The global joint venture will develop, manufacture and sell lithium ion battery separator film and introduce next-generation films to the market, according to the companies.

-By Peppi Kiviniemi, Dow Jones Newswires; +3227411483; peppi.kiviniemi@dowjones.com
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