PPG mulls options for Transitions stake

PPG Industries says that it is currently in discussions with partner Essilor relating to the future of their Transitions Optical joint venture, a leading provider of photochromic lenses. PPG is the majority shareholder in Transitions, which was formed in 1990, holding a 51% interest in the jv. Essilor holds the remaining 49% interest and is also the largest customer of Transitions. PPG says it cannot predict the outcome of the discussions with Essilor but outlined three possible outcomes. The options include a modification of the current jv structure, a sale of...

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