UPDATE:FTC Reaches Antitrust Settlement With Transitions Optical
03 Marzo 2010 - 9:56PM
Dow Jones News
The U.S. Federal Trade Commission said Wednesday that
Transitions Optical Inc., the leading maker of photochromic
eyeglass lenses that darken in sunlight, has agreed to cease
certain business practices that the agency alleged were
anticompetitive.
The FTC alleged that Transitions, a PPG Industries Inc. (PPG)
joint venture with Essilor International SA (ESLOY, EI.FR), used
its monopoly power to strong-arm key distributors into exclusive
agreements and unfairly box out competitors.
The FTC said Transitions' practices have led consumers to pay
higher prices for the lenses.
The agency said photochromic lenses account for about 20% of all
corrective eyeglass lenses purchased by U.S. consumers, with sales
totaling about $630 million at the wholesale level. It said
Transitions holds an 85% share of that market.
The FTC said the company agreed to stop all exclusive dealing
practices that pose a threat to competition.
Transitions Optical said in a written statement that it believed
its practices "are, and have been lawful, fair, pro-competition and
pro-consumer. But we also take seriously the FTC's goal of
fostering greater competition in the eyewear marketplace."
The company said the terms of the FTC settlement "go above and
beyond what we believe is required under the law."
-By Brent Kendall, Dow Jones Newswires; 202-862-9222;
brent.kendall@dowjones.com
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