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Toray to lift South Korean capacity for battery material

Growing demand for electric vehicles seen justifying $300mn investment

SEOUL -- Toray Industries announced Thursday that it will spend a total of 350 billion won ($309 million) in South Korea in 2019 and 2020 to increase its production capacity for the separator films used in lithium-ion batteries for electric vehicles and the like.

The investments will boost the company's capacity 50% above the level planned in South Korea for 2017, and will enable it to meet the growing demand for separators, which are key to the safety of the lithium-ion batteries made by the country's leading battery makers.

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