France-based Essilor has signed two new partnership agreements that reportedly represent approximately EUR22 million in additional revenue.
Essilor has acquired a majority interest in Jiangsu Youli Optics Company Ltd., a manufacturer of ophthalmic lenses in Danyang that generates around EUR15 million in revenue a year. Youli Optics has nearly 1,000 employees and operates three plants that produce lenses for the domestic market and for export.
The company has also acquired a majority stake in another lens manufacturer, Jiangsu Seeworld Optical Company Ltd., which has nearly EUR7 million in annual revenue and over 300 employees.