EssilorLuxottica announces acquisition of PUcore's optics division

Eyewear group EssilorLuxottica is expanding its production capacities. The company announced on Monday that it has signed a purchase agreement for the optics division of South Korean chemicals group PUcore.

EssilorLuxottica will completely take over all PUcore’s operating units involved in the development, manufacture and marketing of monomers used to produce particularly thin, light and high-quality lenses. These comprise a research and development facility, a production site and PUcore’s South Korean sales office. In addition, EssilorLuxottica will acquire the intellectual property rights for the corresponding products and manufacturing processes.

Financial details of the planned transaction were not disclosed. The acquisition is expected to be completed before the end of the year, subject to the relevant competition authority approvals.

“We are delighted to welcome PUcore’s optical division and its talented teams to our group,” said Francesco Milleri, chairman and chief executive officer of EssilorLuxottica, and deputy chief executive officer, Paul du Saillant, in a joint statement. “In line with our commitment to raising the standards in lens research, development and manufacturing, this acquisition will allow us to expand our portfolio of patents, technologies and know-how, and to further enhance our expertise across the value chain.”

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