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Japan : Acquisition of US Corning "SunSensors" Photochromic Lens Material-Expansion of Vision Care Business.

Mitsui Chemicals, Inc. announced the acquisition of Corning Incorporated s SunSensors operations on May 15, 2014. Through the acquisition, Mitsui Chemicals moves to bolster its world-class ophthalmic lens material business while breaking into the rapidly growing global photochromic lens market. The company will aggressively develop and sell competitive new photochromic lens materials.

Mitsui Chemicals offers high to low refractive index ophthalmic lens material and coatings to meet the diverse needs of people around the world. The company is known as a premier provider of ophthalmic lens materials with its thin and light MR Series super durable and clear high refractive index lens material, which allows progressive design. The world-leading MR Series revolutionized ophthalmic lens material standards and is now regarded as the global standard for lens quality around the world.

Similarly, Corning has been a driving force behind the photochromic lens market since the 1960s, when it first launched its photochromic eyeglass lens materials. The company has continued to lead the market with innovations, including its SunSensorsA brand of photochromic organic lens materials.

Mitsui Chemicals acquisition of Corning s photochromic lens material business, which is showing staggering growth in not only developed markets but also in developing markets such as India and Brazil, will contribute to the growth of the company s vision care materials business while expanding the product lineup to improve its ophthalmic lens material solutions and contribute to optimized customer service.

Mitsui Chemicals will use its efficient global customer and sales network to bolster sales growth of SunSensorsA products while intensifying development of new competitive vision care materials including next-generation photochromic lens material to strengthen the company s position as a provider of new value for its customers.

Business rights of photochromic lens material, patents for photochromic monomer, and trademark rights of SunSensors and SunSensors.

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Publication:Mena Report
Date:May 21, 2014
Words:310
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