Pittsburgh, Pennsylvania-PPG Industries has acquired Intercast Europe SpA, and related manufacturing operations in Thailand. As part of the deal, PPG is also buying some manufacturing and distribution facilities in Italy and Hong Kong.
The deal is expected to close by the end of May: terms of both transactions were not disclosed.
Intercast is "the world's leading manufacturer of nonprescription hard resin sunlenses," said PPG, in a company statement. The Parma, Italy-based company uses NXT to make lenses. NXT is a proprietary monomer based on the same patented polyurethane-based chemistry for impact-resistant ophthalmic applications as PPG's Trivex monomer for prescription lenses, PPG said.
As well as making optical sunlenses, Intercast makes optically clear sheet products for non-eyewear uses.
PPG was the first to market with its Trivex polyuyrethane lens material, and says Trivex is "the first prescription lens material to offer the combination of excellent optics, impact resistance and ultra light weight."
PPG will continue to operate the acquired business under the Intercast name, with the current managing directors-Paolo Baiocchi and Gian Giuseppe Giani-remaining in their jobs. They will report to Rick Elias, PPG's vice president of optical products.
"These acquisitions will strengthen PPG's optical products portfolio and expand the global presence of our optical materials group through Intercast's strong international footprint," said Elias, in PPG's statement.
The deal will also make PPG "the pre-eminent supplier of durable, lightweight and optically clear lens material for the growing impact-resistant lens segment," added Elias.