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PPG exits Transitions Optical JV, to receive $1.73 billion

7:00 AM MDT | August 9, 2013 | —Deepti Ramesh

PPG Industries has reached an agreement to divest its 51% stake in Transitions Optical, a global supplier of photochromic lenses, to Essilor International (Charenton-le-Pont, France), which currently holds a 49% stake in the joint venture. Essilor, a maker of ophthalmic lenses and optical equipment, will also enter into multiyear agreements with PPG for continuing supply of optical dyes and R&D services....

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