Essilor in Discussions with PPG Regarding Transitions Optical Joint Venture
CHARENTON-LE-PONT, France -- January 15, 2013
Essilor International (Paris:EI) is currently in discussions with PPG
Industries, Inc. relating to the future of Essilor’s and PPG’s joint venture,
Transitions Optical, a leading provider of photochromic lenses to optical
These discussions are likely to continue for several months.
Essilor holds a 49% interest in Transitions Optical which was formed in 1990
while PPG is the majority shareholder, holding a 51% interest in the joint
venture companies. Transitions Optical is a consolidated subsidiary of PPG.
While the discussions between PPG and Essilor continue, Transitions Optical
intends to continue to operate its business without interruption or change in
customer service. As previously announced, Transitions Optical is on schedule
in expanding its new technology platforms through major new product
Essilor continues to develop its mission to provide better vision through a
clear and solid strategy based on organic growth and partnerships that are key
value creators for the Company.
The world’s leading ophthalmic optics company, Essilor designs, manufactures
and markets a wide range of lenses to improve and protect eyesight. Its
corporate mission is to enable everyone around the world to access lenses that
meet his or her unique vision requirements. To support this mission, the
Company allocates around €150 million to research and development every year,
in a commitment to continuously bring new, more effective products to market.
Essilor’s flagship brands are Varilux^®, Crizal^®, Definity^®, Xperio^®,
Optifog^TM and Foster Grant^®. It also develops and markets equipment,
instruments and services for eyecare professionals.
Essilor reported consolidated revenue of €4.2 billion in 2011 and employs
around 48,700 people in some 100 countries. It operates 19 plants, a total of
390 prescription laboratories and edging facilities, as well as several
research and development centers around the world.
For more information, please visit www.essilor.com.
The Essilor share trades on the NYSE Euronext Paris market and is included in
the EuroStoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.
Investor Relations and Financial Communication
Véronique Gillet – Sébastien Leroy – Ariel Bauer
Phone: +33 (0)1 49 77 42 16
Phone: +33 (0)1 49 77 45 02
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