Essilor Buys Majority Stakes In China, Switzerland Companies
25 Gennaio 2012 - 7:44AM
Dow Jones News
French ophthalmic lens maker Essilor SA (EI.FR) Wednesday said
it acquired a majority stake in China-based Jiangsu Youli Optics
Co. Ltd. and Jiangsu Seeworld Optical Co. Ltd. and a majority
holding in Swiss-based Reize.
MAIN FACTS:
- Essilor said the agreements in China represent approximately
EUR22 million in additional revenue.
- Jiangsu Youli Optics Co. Ltd has nearly 1,000 employees and
operates three plants that produce lenses for the domestic market
and for export and Jiangsu Seeworld Optical Co. Ltd., which has
nearly EUR7 million in annual revenue and over 300 employees.
- These two new transactions illustrate Essilor's commitment to
extending its presence in the mid-range segment in China, while
also making its offering more competitive in the rest of Asia.
.
- Reize generates approximately EUR11 million in revenue and is
a major player in the Swiss market. With 60 employees and a
prescription lens laboratory equipped with the latest high-tech
machines, Reize will continue to be led by the current management
team. .
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;
inti.landauro@dowjones.com
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