Essilor International (Reuters: ESSI. PA) has announced the acquisition of a 50 percent stake in
Polycore Optical, a leading sun lens producer.
Founded in 1976, Singapore-based Polycore develops and manufactures a wide range of plano sun lenses and prescription sun and clear lenses, which are sold in Asia, Europe and the U.S. The company, which has 2,200 employees and revenue of around €30 million, is an Essilor supplier. It has two production plants, in Indonesia and in Malaysia, and three prescription laboratories, including an export laboratory, in Indonesia and the Netherlands. Polycore has a
based in Reno, Nev.
Commenting on the acquisition, Hubert Sagnieres, Essilor’s chairman and chief executive officer, said “This agreement is in line with our eye protection and visual health strategy. Polycore’s production capacity and facilities will add to Essilor’s existing sun lens capabilities, mainly located in our BNL plants in France and at Gentex in the United States. This new partnership will allow us to offer a wider, more comprehensive range of sun products and materials, and to increase the penetration of high-performance sun lenses."
Based in France, BNL manufactures premium tinted or polarized sun lenses, mainly in polycarbonate. The Gentex subsidiary has a plant in the U.S. that is recognized for its expertise in the production of sun lens, particularly for curved frames.
The sun lens segment is growing around twice as fast as the corrective lens market, according to Essilor.