Essilor International SA (ESLOY.PK,ESLOF.PK) said it is discussions with PPG Industries Inc. (PPG: Quote) regarding the future of Essilor’s and PPG’s joint venture, Transitions Optical, a provider of photochromic lenses to optical manufacturers. These talks are expected to continue for several months.
The French eyecare products maker holds a 49% stake in Transitions Optical which was formed in 1990, while PPG being the majority shareholder owns a 51% holding in the joint venture companies. Transitions Optical is a consolidated division of PPG.
Whilst the talks between both the companies continue, Transitions Optical plans to continue to operate its business without interruption or change in customer service. Transitions Optical is on schedule in expanding its new technology platforms through major new product introductions worldwide, as announced earlier.
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by RTT Staff Writer
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