HOYA Vision Care Announces Agreement to Acquire Safety Prescription Eyewear Business from 3M

PR66822

UITHOORN, The Netherlands, Dec. 7, 2016 /PRNewswire=KYODO JBN/ --

     - Acquisition provides HOYA Vision Care access to an important new market

    HOYA Vision Care, a division of HOYA Group (HOYA) today announced a

definitive agreement to acquire the safety prescription eyewear business of 3M.

This safety prescription eyewear business is an industry leader with over 90

years' experience in North America and provides HOYA with a comprehensive line

of frames, prescription lenses, and premium coating options in a custom-made

solution, serviced by a network of eye care professionals. In addition to its

strong North American presence, the business also currently provides safety

prescription eyewear or frames in Latin America, Europe and Asia. The

acquisition enables HOYA to provide business and industrial customers as well

as consumers with a strong global safety prescription eyewear protection

solution.

    "HOYA's acquisition of 3M's established safety prescription eyewear

business expands our customer reach and entry into an important new optical

market segment for HOYA both in the U.S. and globally", said Girts Cimermans,

CEO of HOYA Vision Care.  "The business provides HOYA with additional

capabilities in safety prescription eyewear while expanding future global

opportunities and strengthening the range and services we offer our customers."

    HOYA will acquire only the prescription part of 3M's safety eyewear

business, employing approximately 140 people, including an optical laboratory

facility in Plymouth, Indiana, USA. "This acquisition offers entry into an as

yet untapped market for HOYA, allowing us to further expand our presence in the

North American optical market", said Barney Dougher, President of HOYA Vision

Care, Americas. "The safety prescription eyewear business strongly complements

HOYA's existing portfolio, offering our customers a broader range of products

while continuing to focus on high quality and service."

    The transaction is expected to be completed during the first quarter of

2017, subject to customary closing conditions.

    About HOYA

    Founded in 1941 in Tokyo, Japan, HOYA is a global technology and med-tech

company, and a leading supplier of innovative high-tech and medical products.

HOYA is active in the fields of healthcare and information technology providing

eyeglasses, medical endoscopes, intraocular lenses, optical lenses as well as

key components for semiconductor devices, LCD panels and HDDs. With over 150

offices and subsidiaries worldwide, HOYA currently employs a multinational

workforce of over 34,000 people. For more information, please visit

http://www.hoya.com.

    About HOYA Vision Care

    For over 60 years, HOYA Vision Care has been a global leader in the

eyeglass lens business. With a presence in over 50 countries, Hoya Vision Care

has a proven expertise in lens designs and FreeForm technology combined with a

leading position in high performance, quality AR coating. HOYA Vision Care's

solid market portfolio includes SEIKO and PENTAX optical lenses, as well as

innovative products such as HOYALUX MyStyle Progressive Lenses and Yuniku 3D

Tailored Eyewear. The company employs over 16,000 employees worldwide with mass

production facilities in Asia & Europe and over 40 local Rx laboratories

globally. For more information, please visit http://www.hoyavision.com.

    Source: HOYA Vision Care