Essilor signs two newpartnership agreements in China Positions also strengthened in Switzerland
Charenton-le-Pont, France(January 25, 2012, 6:30 a.m.) – Essilor is pursuing its development in Chinawith the signing of two new partnership agreements that represent approximately€22 million in additional revenue.
Essilor has acquired a majority interest in Jiangsu Youli Optics Co. Ltd., a manufacturer of ophthalmic lenses in Danyang that generates around €15 million in revenue a year. Youli Optics (formerly Governor Optical Co. Ltd.) has nearly 1,000 employees and operates three plants that produce lenses for the domestic market and forexport.
The Company has also acquired amajority stake in another lens manufacturer, Jiangsu Seeworld Optical Co.Ltd., which has nearly €7 million in annual revenue and over 300 employees.
Following the partnership agreements signed with Wanxin and ILT, 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.
In Europe, the Company has also acquired a majority holding in Reize, which generates approximately €11million in revenue and is a major player in the Swiss market, where it is BBGR's long-time distributor. With 60 employees and a prescription lenslaboratory equipped with the latest high-tech machines, Reize will continue to be led by the current management team.
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Originally Posted by Barry Santini
three plants that produce lenses for the domestic market and forexport..............
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