All Article articles – Page 152
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Essilor Defies A Slowing Market But Its Organic Growth Is Softening
The company expects sales to continue growing at constant exchange rates in 2009, in spite of what its finance manager, Philippe Alfroid, describes as «the worst economic environment that I have ever seen while I have been with this company.» Much of this growth will be driven by acquisitions, as ...
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At Vision Expo East, Some Gaps In Foreign Presence
A few of the major Italian eyewear producers, starting with Marcolin, will not be taking a booth this year at Vision Expo East, the show that takes place in New York at the end of March. The Italians have nothing against the American fair as such, and the two leading ...
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Elite Is Paralyzed
The Italian eyewear company, a former contract manufacturer that has been licensing Pollini, Napapijri and other brands lately, is closed. One of Elite's 35 employees, who have been forced to stay at home without pay since December, said the company is likely to file for bankruptcy protection next week, unless ...
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Rodenstock Maps Out Path For Expansion
Rodenstock has entered a cooperative venture with Uvex, handling its sales in optical retail circuit for this German supplier of sports glasses. It also has entered new licensing agreements with Baldessarini, Rock Star Baby and Stefan Blöcher. Furthermore; the company's license with Porsche Design has been extended for five more ...
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Strong Yen Wipes Out Hoya's Gains
The vision care division of Hoya Corporation took another hit at home in Japan in the third quarter ended Dec. 31, but sales continued to grow in terms of local currencies in other parts of the world, and the division recorded an operating margin (EBIT) of 19.3 percent, up from ...
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The Leading Czech Retailer Acquires The Leader In Slovakia
The leading Czech optical retail chain, Fokus Optik, has acquired a controlling interest of 56 percent in the leading chain in Slovakia, Ocná Optika. Together they will form a group that will trade in the future under the name Fokus-Ocná Optika and that may move into another foreign country such ...
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Pharmaceuticals Group Buys Advanced Medical Optics
Abbott, a large American manufacturer of pharmaceuticals and medical products, is entering the ophthalmic sector by acquiring Advanced Medical Optics for $22 per share in cash. The total value is about $2.8 billion, including estimated net debt. Advanced Medical Optics' shares closed at $8.85 per share just before the deal ...
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Essilor Is Buying Signet Armorlite
Reinforcing its position in the low and medium segments of the ophthalmic market, Essilor has signed a deal to buy the entire capital of Signet Armorlite through its U.S. subsidiary EOA Holding. Terms of the agreement, which is subject to approval by regulatory authorities in certain countries, were not released. ...
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Presbyopia Survey Studies Condition Worldwide
An article in December's Archives of Ophthalmology reports that 1.04 billion people in the world had presbyopia in 2005, and the conditions of 410 million were so bad they prevented them from performing tasks requiring near vision. Of the latter, 94 percent lived in undeveloped countries. The researchers, Brien ...
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Visibilia Gives Up Luxury Division And The Distribution Of Kata And Judith Leiber
As of Jan. 1, 2009, Visibilia is no longer the European distributor for the Kata and Judith Leiber brands of the U.S. firm Legacie. Just six months after the exclusive agreement between the two companies was signed, Cliff Robinson for Legacie and Dan Levi for Visibilia concluded that the experiment ...
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Safilo, Luxottica And Mazzucchelli Reduce Production In Face Of Recession
As consumption is falling in the international eyewear market, the two major European manufacturers are reducing their production. As they are both Italian, they are making use of an Italian system that allows them to lay workers off temporarily in times of economic difficulty, with part of their wages paid ...
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Ppg's Total Sales Are Up, With Optical Products Performing Fine
The total revenues of PPG Industries increased by 4 percent to $3.2 billion for the fourth quarter, but those of its optical and specialty materials unit were down by 2 percent to $239 million. The optical business alone, which includes optical monomers and Transitions Optical, had a mid-single-digit increase in ...
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Gorny Quits Zeiss
Carl Zeiss Vision announced on Jan. 13 that its chief executive officer, Norbert Gorny, had left for personal reasons, with immediate effect. The reasons for his abrupt departure could not be learned. His functions will be handled on an interim basis by Arne Frank, a representative of the EQT fund ...
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Sauflon Offers Help For Independents
Sauflon has started a new program to help independent British eye care professionals to survive during the recession. The program is intended to generate repeat business, and includes promoting the company's ?protector plan,? which allows practitioners to have a range of contact lenses and solutions delivered to their establishments or ...
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Hvlc Takes Over Parts Of Vidivici In Liquidation
Four brands and licenses held by Vidivici and some other assets, including a beautiful ancient villa, have found a potential new owner after going into liquidation due to a serious financial crisis that occurred in the second half of 2008, in spite of constant growth in sales. It seems that ...
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Safilo Pursues Management Reschuffle
Safilo continues to reorganize its senior management, following the return of Roberto Vedovotto at its helm late last year. The major new change has been the replacement of Claudio Gottardi as head of the company's American operations with James Ross Brownlee. Brownlee has spent 12 years with the Safilo group, ...
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Safilo Opens A Subsidiary In Russia
Safilo is reinforcing its presence in Russia and the other countries that formerly belonged to the Soviet Union with the establishment of a new subsidiary. Safilo CIS, headquartered in Moscow, is a fully owned subsidiary that went into operation as of Jan. 1, 2009. Safilo's various brands had previously been ...
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Silmo And Mido Sign An Armistice In The Trade Show War
The revised calendar of the two major European eyewear fairs has triggered a tricky situation: without clashing completely, the French and Italian fairs were scheduled to follow closely one after the other. SILMO has been brought forward from the end of October to the week of Sept. 17-20, which put ...
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Fedon Closes One Of Its Italian Plants
Fedon has closed its original manufacturing plant in Valsella in the Cadore region. The company's head office, where 60 employees look after the firm's commercial and administrative affairs, remains operational on the Valsella site, along with the facilities where the collections for the 1919 desktop leathergoods range are produced. All ...
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Coopervision Improves Margins Sharply, Grows Faster Than The Market
The fourth quarter ended on Oct. 31 went relatively well for the Cooper Companies, which turned around to a net profit of $29.5 million from a loss of $24.2 million in the same period a year ago, following the elimination of a number of extraordinary charges. Revenues went up by ...
