PPG, Essilor discussing future of Transitions Optical JV
Jan 14 (Reuters) - PPG Industries Inc said it was in talks with Essilor International SA, the world's largest maker of corrective lenses, about the future of their joint venture Transitions Optical that makes eyeglass lenses with sun-activated tints.
Coatings and specialty products maker PPG holds a 51 percent interest in the JV while Essilor holds the rest and is also the venture's largest customer.
The talks could lead to either PPG or Essilor selling all or a portion of their interest in Transitions, or a modification of the joint venture's structure, PPG said in a statement.
PPG's optical and specialty materials business brought in 7 percent of total sales in the three months ended Sept. 30.
The discussions between the two companies are likely to last the next several months, PPG said.