14 January 2013 15:59 [Source: ICIS news]
HOUSTON (ICIS)--US-based paintings producer PPG Industries said on Monday that it and Essilor may change the structure of their optics joint venture.
Currently, PPG holds a 51% stake in Transitions Optical, which makes photochromic lenses for optical manufacturers, the company said.
Essilor owns the rest of the joint venture, PPG said. Essilor is Transitions Optical's largest customer.
The two companies may modify the structure of the joint venture; PPG may sell part or all of its interest to Essilor; or Essilor may sell part or all of its interest to PPG.
PPG said the discussions could continue over the next several months, although it did not know when they would end.
Transitions Optical accounted for a large portion of the sales and earnings of PPG’s optical and specialty materials segment in 2012, the company said.
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