CHARENTON-LE-PONT, France, February 21 /PRNewswire/ --
- New Acquisitions in Canada and Puerto Rico
Essilor is pursuing its external growth strategy with three new acquisitions.
The Company is stepping up its development in Eastern Europe by setting up operations in Bulgaria. Its new subsidiary Essilor Bulgaria Eood has acquired Optymal Ood, which currently distributes Essilor lenses and instruments in Bulgaria and has sales of nearly EUR1 million. The acquisition will enable the Company to enhance its competitive position in the fast growing corrective lens market, especially the progressive lens segment.
Separately, Essilor International's subsidiary Essilor Canada has acquired a majority stake in Westlab Optical Inc., a prescription laboratory located in Montreal, which generates sales of C$4 million. The partnership focuses primarily on developing the Company's portfolio of combined lens/frame packages.
Lastly, following the acquisition of MGM in 2005, Essilor is strengthening its presence in Puerto Rico by acquiring Rainbow Optical Labs Inc., a prescription laboratory with $3 million in revenue.
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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, 270 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: Codes and symbols: ISIN: FR 0000121667; Reuters: ESSI.PA; Bloomberg: EF:FP
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Investor Relations and Financial Communications Veronique Gillet - Sebastien Leroy Phone: +33-1-49-77-42-16 http://www.essilor.com
Investor Relations and Financial Communications, Veronique Gillet - Sebastien Leroy, Phone: +33-1-49-77-42-16
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