Essilor CEO Sagnieres Outlines Growth Plans for Transitions Optical

CHARENTON-LE-PONT, France—Following Monday's announcement that Essilor International has agreed to buy PPG Industries' 51 percent share of Transitions Optical as well as acquire Intercast for $1.73 billion, Essilor chairman and CEO Hubert Sagnieres and other senior executives offered a strategic assessment of the fast growing photochromic and sun lens categories and outlined plans to grow the market.   On a conference call Monday with financial analysts, Sagnieres said the photochromic segment is growing at 7 percent annually, "about twice as fast as the whole optical market." He noted that although worldwide penetration of photochromic lenses is 10 percent, there is significant growth opportunity on an international level, in part due to "strong regional differences." For example, South Africa has 27 percent photochromic penetration while Japan has only 1 percent penetration, he said.     See more