Acquisition provides HOYA Vision Care access to an important new market
HOYA Vision Care, a division of HOYA Group (HOYA) today announced a definitive agreement to acquire the safety prescription eyewear business of 3M. This safety prescription eyewear business is an industry leader with over 90 years' experience in North America and provides HOYA with a comprehensive line of frames, prescription lenses, and premium coating options in a custom-made solution, serviced by a network of eye care professionals. In addition to its strong North American presence, the business also currently provides safety prescription eyewear or frames in Latin America, Europe and Asia. The acquisition enables HOYA to provide business and industrial customers as well as consumers with a strong global safety prescription eyewear protection solution.
"HOYA's acquisition of 3M's established safety prescription eyewear business expands our customer reach and entry into an important new optical market segment for HOYA both in the U.S. and globally", said Girts Cimermans, CEO of HOYA Vision Care. "The business provides HOYA with additional capabilities in safety prescription eyewear while expanding future global opportunities and strengthening the range and services we offer our customers."
HOYA will acquire only the prescription part of 3M's safety eyewear business, employing approximately 140 people, including an optical laboratory facility in Plymouth, Indiana, USA. "This acquisition offers entry into an as yet untapped market for HOYA, allowing us to further expand our presence in the North American optical market", said Barney Dougher, President of HOYA Vision Care, Americas. "The safety prescription eyewear business strongly complements HOYA's existing portfolio, offering our customers a broader range of products while continuing to focus on high quality and service."
The transaction is expected to be completed during the first quarter of 2017, subject to customary closing conditions.
About HOYA
Founded in 1941 in Tokyo, Japan, HOYA is a global technology and med-tech company, and a leading supplier of innovative high-tech and medical products. HOYA is active in the fields of healthcare and information technology providing eyeglasses, medical endoscopes, intraocular lenses, optical lenses as well as key components for semiconductor devices, LCD panels and HDDs. With over 150 offices and subsidiaries worldwide, HOYA currently employs a multinational workforce of over 34,000 people. For more information, please visit http://www.hoya.com .
About HOYA Vision Care
For over 60 years, HOYA Vision Care has been a global leader in the eyeglass lens business. With a presence in over 50 countries, Hoya Vision Care has a proven expertise in lens designs and FreeForm technology combined with a leading position in high performance, quality AR coating. HOYA Vision Care's solid market portfolio includes SEIKO and PENTAX optical lenses, as well as innovative products such as HOYALUX MyStyle Progressive Lenses and Yuniku 3D Tailored Eyewear. The company employs over 16,000 employees worldwide with mass production facilities in Asia & Europe and over 40 local Rx laboratories globally. For more information, please visit http://www.hoyavision.com .
Source: HOYA Vision Care
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