Navigation Links
Essilor: Essilor Forges New Strategic Partnerships Around the World
Date:7/6/2009

PARIS, France, July 7 /PRNewswire-FirstCall/ -- Essilor is pursuing its external growth strategy through a number of recent transactions in Europe, North America and the Middle East.

Essilor has acquired all outstanding shares in De Ceunynck, a major player in the Belgian market where the company is BBGR's long-time distributor. De Ceunynck, which has a prescription laboratory near Antwerp and 92 employees, generated EUR17 million in 2008 revenue. The current management team will remain in place.

In the United States, Essilor is continuing to expand its network with the acquisition of Barnet & Ramel Optical ($10.8 million in revenue), Apex Optical ($2.7 million), ABBA Optical ($2.2 million) and Vision Pointe Optical ($1.1 million). The four prescription laboratories are located respectively in Nebraska, Florida, Georgia and Idaho. Essilor has also acquired a majority stake in OptiSource International ($5.3 million in revenue), a manufacturer and distributor of optical supplies and consumables for opticians and laboratories.

Essilor has joined with Vision Service Plan (VSP) to acquire McLeod Optical, a prescription laboratory based in Rhode Island with 2008 revenue of $10 million. VSP is the largest not-for-profit vision benefits provider in the United States with 55 million members and a network of 26,000 private practice eye doctors. Essilor will have a majority interest and VSP and the principals of McLeod will each own a minority interest in the company.

In the Middle East, Essilor and its partner Amico, the local market-leading distributor of ophthalmic optics products, have signed a contract to set up a 50/50 joint venture that would operate Amico's prescription laboratory in Dubai. The laboratory, which serves the United Arab Emirates, Oman, Qatar and Kuwait, generated 2008 revenue of EUR3.5 million. With the current management team remaining in place, the joint venture will have exclusive distribution rights for the Varilux and Crizal brands in the region and will provide Essilor with a foothold in the Middle East, a market of 265 million people that has significant growth potential.

Lastly, Nikon Optical Canada, a subsidiary of Nikon-Essilor, has signed an agreement to increase from 50% to 100% its stake in TechCite, a prescription laboratory located in Calgary, Alberta. TechCite generated 2008 revenue of approximately C$6.8 million.

Essilor International is the world leader in ophthalmic optical products, offering a wide range of lenses under the flagship Varilux(R), Crizal(R), Essilor(R) and Definity(R) brands to correct myopia, hyperopia, presbyopia and astigmatism. Essilor operates worldwide through 15 production sites, 293 lens finishing laboratories and local distribution networks. The Essilor share trades on the Euronext Paris market and is included in the CAC 40 index. Codes and symbols: ISIN: FR 0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.

    Investor Relations and Financial Communications
    Veronique Gillet - Sebastien Leroy
    Phone: +33(0)1-49-77-42-16
   http://www.essilor.com


'/>"/>
SOURCE Essilor
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Essilor: New Acquisitions in the United States and Brazil
2. Essilors 2007 Third-Quarter Report
3. Essilor Cancels 700,000 Shares
4. Essilor : Nomination of Hubert Sagnieres
5. Essilors First-Half 2008 Results
6. Essilor Finalizes Satisloh Agreement
7. Essilor Cancels 1,600,000 Shares
8. Essilor : 2009 First Quarter Report
9. NeoStem Forges Ahead in Its Plan to Open Adult Stem Cell Collection Centers in Key Locations that Can Serve as Hubs to Service Clients Nationwide
10. Micell Forges Strategic Agreement to Develop Advanced Drug-Eluting Stents and Balloons
11. Victoria Forges Global Alliance with Dow AgroSciences for Crop Innovation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/10/2017)... Calif. , Oct. 10, 2017 SomaGenics ... from the NIH to develop RealSeq®-SC (Single Cell), expected ... for profiling small RNAs (including microRNAs) from single cells ... Program highlights the need to accelerate development of approaches ... "New techniques for measuring levels ...
(Date:10/9/2017)... ... , ... The award-winning American Farmer television series will feature 3 Bar Biologics ... at 8:30aET on RFD-TV. , With global population estimates nearing ten billion people ... to feed a growing nation. At the same time, many of our valuable resources ...
(Date:10/7/2017)... ... October 06, 2017 , ... ... applications consulting for microscopy and surface analysis, Nanoscience Instruments is now expanding ... offers a broad range of contract analysis services for advanced applications. Services ...
(Date:10/6/2017)... ... October 06, 2017 , ... On Tuesday, October ... on INSIGhT, the first-ever adaptive clinical trial for glioblastoma (GBM). The featured speaker ... is free and open to the public, but registration is required. , WHAT: ...
Breaking Biology Technology:
(Date:4/11/2017)... , April 11, 2017 Crossmatch®, ... secure authentication solutions, today announced that it has ... Advanced Research Projects Activity (IARPA) to develop next-generation ... program. "Innovation has been a driving ... Thor program will allow us to innovate and ...
(Date:4/11/2017)... , April 11, 2017 NXT-ID, Inc. ... technology company, announces the appointment of independent Directors Mr. ... to its Board of Directors, furthering the company,s corporate governance ... Gino ... we look forward to their guidance and benefiting from their ...
(Date:4/5/2017)... YORK , April 5, 2017 Today ... is announcing that the server component of the HYPR ... known for providing the end-to-end security architecture that empowers ... HYPR has already secured over 15 million ... makers including manufacturers of connected home product suites and ...
Breaking Biology News(10 mins):