Essilor Goes to China for Lenses

Essilor International is taking a 50% stake in Wanxin Optical, one of China’s leading manufacturers of ophthalmic lenses, as part of a joint venture agreement, says a company press release. Wanxin Optical has more than 2,000 employees, produces nearly 35 million lenses a year and generates annual revenue of approximately €24 million. Intended for both the domestic and export markets, its products are highly regarded by eyecare professionals, especially in the mid-range segment. Wanxin Optical will continue to be led by its current management team.