“PPG Industries Inc (PPG.N) has agreed to sell its $1.73 billion controlling stake in Transitions Optical, the inventor of modern variable-tint plastic lenses, to business partner Essilor International (ESSI.PA), PPG said on Monday,” according to a Reuters post. “Essilor…already holds 49 percent interest in Transitions Optical….The deal will help Essilor boost expansion in the variable-tint lens market, which is growing twice as fast as the optical industry as a whole, mainly in Asia, Latin America and Europe.” Read more.
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