First-Half 2005 Sales - New Acquisitions
First-Half Sales Up 7.9% At Constant Exchange Rates
Sharp Upturn in Business in Europe In the 2nd Quarter
New Acquisitions
Charenton-le-Pont, France (July 21, 2005) -- Essilor, the world leader in ophthalmic optics, today announced its consolidated sales for the six months ended June 30, 2005:
See the whole press release on my website at http://optochemicals.com/news_item.htm
New Acquisitions
The BBGR subsidiary has finalized the acquisition of its Italian distributor, ATR MEC Optical, taking to the next level its strategy of expanding its presence in the leading European country markets.
A family-owned business started in 1984, ATR MEC Optical began marketing the BBGR lens range more than five years ago. In 2004, it reported nearly €11 million in sales, with around one hundred employees. The company, which also has two prescription laboratories in Milan and Rome, primarily serves independent opticians and buying groups. It will keep its current management team. The acquisition will enable BBGR to become an integrated player in the Italian market.
Essilor of America has acquired majority interests in two prescription laboratories that distribute Varilux® products.
- Jorgenson Optical Supply Company, located near Seattle, Washington, has 55 employees and reported $7.6 million in sales in 2004. The acquisition will enable the Group to improve its services to opticians and optometrists in Washington, where it previously did not have any operations.
- Optical One, which had sales of $8.6 million in the fiscal year ended March 31, 2005, is based in Ohio and has 53 employees. It will strengthen Essilor’s presence in the region alongside Select Optical, which was acquired in 2004.
In addition, Essilor has received the approval necessary from the U.S. Federal Trade Commission to complete the acquisition, previously announced on June 8, 2005, of the ophthalmic lens business of The Spectacle Lens Group division of Johnson & Johnson Vision Care, Inc. Essilor expects to complete the acquisition in the next few days.
Essilor extends its prescription laboratory network in India.
Essilor has acquired a majority stake in Delta Lens Private Limited, a prescription laboratory based in Mumbai (formerly Bombay), with sales of nearly $2 million. Delta Lens is recognized for its service excellence and is present in the high-end segment of the market. Delta Lens will maintain its current management team. This complements Essilor’s laboratory presence in the important Mumbai market started with the acquisition of Vijay Vision in 2004.
Next earnings release
First-half 2005 earnings: September 8.
Investor Relations and Financial Communications
Véronique Gillet
Phone: +33 (0)1 49 77 42 16
www.essilor.com
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