Essilor Expands in Sun Lens Production with the Acquisition of Polycore
CHARENTON-LE-PONT, France -- July 8, 2013
Essilor International (Paris:EI) has announced the acquisition of a 50% stake
in Polycore Optical, one of the world’s leading sun lens producers.
Founded in 1976, Singapore-based Polycore develops and manufactures a wide
range of plano sun lenses and prescription sun and clear lenses, which are
sold in Asia, Europe and the United States. The company, which has 2,200
employees and revenue of around €30 million, is an Essilor supplier. It has
two production plants, in Indonesia and in Malaysia, and three prescription
laboratories, including an export laboratory, in Indonesia and the
Commenting on the acquisition, Hubert Sagnières, Essilor’s Chairman and Chief
Executive Officer, said : "This agreement is in line with our eye protection
and visual health strategy. Polycore’s production capacity and facilities will
add to Essilor’s existing sun lens capabilities, mainly located in our BNL
plants in France and at Gentex in the United States. This new partnership will
allow us to offer a wider, more comprehensive range of sun products and
materials, and to increase the penetration of high-performance sun lenses."
Based in France, BNL manufactures premium tinted or polarized sun lenses,
mainly in polycarbonate. The Gentex subsidiary has a plant in the United
States that is recognized for its expertise in the production of sun lens,
particularly for curved frames.
With their ability to enhance visual comfort and clarity by protecting the
eye, sun lenses form an integral part of Essilor’s mission of improving the
vision of 4.2 billion people in the world, of whom 2.5 billion do not have
corrective eyewear. The sun lens segment is growing around twice as fast as
the corrective lens market.
In the prescription clear lens segment, the acquisition will also allow
Essilor to step up its expansion in Indonesia, where one of Polycore’s
prescription laboratories serves the domestic market. With fewer than one in
five Indonesian residents benefitting from effectively corrected vision, the
market is one of the world’s most underpenetrated. There is significant growth
potential, especially for medium and high index lenses.
Polycore is fully consolidated as from July 1, 2013.
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 more than €150 million to research and innovation 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 approximately €5 billion in 2012 and
employs around 50,700 people. It operates in some 100 countries with 22
plants, more than 400 prescription laboratories and edging facilities, as well
as several research and development centers around the world.
For more information, please visit
The Essilor share trades on the NYSE Euronext Paris market and is included in
the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.
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