PITTSBURGH, April 28, 2006 — PPG Industries has acquired Intercast Europe, S.p.A. – the world’s leading manufacturer of nonprescription hard resin sunlenses – and related manufacturing operations in Thailand.
Additionally, PPG agreed to acquire certain related manufacturing and distribution facilities in Italy and Hong Kong. Closing on these assets is expected to occur by the end of May. The terms of both transactions were not disclosed.
“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 Rick Elias, PPG’s vice president of optical products. “Our combined offerings, and our research and development capabilities, will further strengthen PPG’s technology leadership and help us better serve our customers and the industry.”
Based in Parma, Italy, Intercast manufactures and distributes optical sunlenses as well as optically clear sheet products for non-eyewear applications. PPG officials said they will continue to operate the business under the Intercast name. Paolo Baiocchi and Gian Giuseppe Giani will remain managing directors of the business, reporting to Elias.
“We are pleased to join PPG in the pursuit of world-class eyewear solutions,” Baiocchi said. “Both companies possess strong leadership positions in the optical market and share a common focus on technological innovation.”
In addition, Intercast manufactures nonprescription lenses from NXT, a proprietary monomer based on the same patented polyurethane-based chemistry for impact-resistant ophthalmic applications as Trivex monomer for prescription lenses. PPG was first-to-market with Trivex lens material – the first prescription lens material to offer the combination of excellent optics, impact resistance and ultra lightweight.
“These acquisitions will also make PPG the pre-eminent supplier of durable, lightweight and optically clear lens material for the growing impact-resistant lens segment,” said Elias.
PPG Industries is the world's leading maker of optical resins and introduced the first hard resin lens material, CR-39 monomer, in 1945. It is majority owner of Transitions Optical, the leading supplier of photochromics to optical manufacturers worldwide, and owner of International Polarizer, the world's largest manufacturer of sunglass polarizer. In addition to optical coatings and materials, PPG is a leading global supplier of specialty and industrial chemicals, coatings, flat and fabricated glass, and fiber glass. With 110 manufacturing locations and equity affiliates in more than 20 countries, sales in 2005 were US$10.2 billion.
Intercast Europe is the world’s largest manufacturer of hard resin sunlenses and supplies products for fashion and performance eyewear to leading sunglass companies worldwide through its manufacturing and distribution units in Italy, Thailand and Hong Kong. Additional information about Intercast can be found at its Web site, www.intercast.it
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Forward-Looking Statement
Statements contained herein relating to matters that are not historical facts are forward-looking statements reflecting PPG’s current view with respect to future events and financial performance. These matters involve risks and uncertainties, as discussed in PPG’s filings with the Securities and Exchange Commission pursuant to Sections 13(a), 13(c) or 15(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. Accordingly, many factors may cause actual results to differ materially from the forward-looking statements contained herein. Such factors include increasing price and product competition by foreign and domestic competitors, fluctuations in cost and availability of raw materials and energy, the ability to maintain favorable supplier relationships and arrangements, economic and political conditions in international markets, foreign exchange rates and fluctuations in such rates, and the unpredictability of existing and possible future litigation, including litigation that could result if the asbestos settlement discussed in PPG’s filings with the Securities and Exchange Commission does not become effective. However, it is not possible to predict or identify all such factors. Consequently, while the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on PPG’s consolidated financial condition, operations or liquidity. All information in this news release speaks only as of April 28, 2006, and any distribution of this news release after that date is not intended and will not be construed as updating or confirming such information.
CR-39 and Trivex are trademarks of PPG Industries.
NXT is a trademark of Intercast Europe.
Revolutionary New Lens Material for Sun and Sport Eyewear Intercast Europe S.p.A. introduced a new family of POLARIZED and PHOTOCHROMIC lenses for the sun and sport markets using patented NXT® urethane technology.
NXT® optical polymers provide superior impact resistance, visual performance, lighter weight and durability when compared to other optical lens materials such as polycarbonate. They are compatible with all frame materials, have high resistance to chemicals, and can be easily processed (drilled, notched, edged, assembled) without risk of stress cracking. Unlike polycarbonate and polyamides, NXT® lenses are cast, ensuring low internal stress, high optical homogeneity, thermal and mechanical stability, making NXT® an ideal material for high performance stress-free polarized lenses and eliminating the rain bowing commonly seen with polycarbonate.
Through its own research centre, VFF "Mare NostrumŽ" & V. has carried out a study on the use of sunglasses containing Carbon® Melanin lenses. The study was conducted in pecific weather use conditions (strong solar luminosity and sun reflection from snow and ice conditions). The results have shown the exceptional effectiveness of the of Carbon® Melanin filter, particularly concerning:
The CARBONŽ MELANINA lenses manufactured by Intercast Europe S.p.A. allow an optimum outdoor daylight eye-sight even in the case of bright sunshine and reflection. The lenses do not cause alteration of colours but allow a better natural colour distinction.
The radiation absorption level ranging in invisible spectrum and in particular from 285 to 380 nm (UVB-UVA) corresponds perfectly to the values declared by Intercast Europe S.p.A., manufacturer of said lenses.
The radiation reduction level of visible spectrum of bleu and violet colour, up to approx. 505 nm, correspond to the values declared by Intercast Europe S.p.A., with the exception of blue colour at 490-505 nm (thus near to green) witch is mainly minimized with an absorption factor measured by us of 98% declared by Intercast Europe S.p.A.
Eye-sight in the visible spectrum is relaxed and does not cause tiredness, especially with bright sunlight and reflection from ground (water or snow).
We recommend the use of such lenses not only for persons pf an age of 30 or above, but for all persons in charge of outdoor works and subject to bright sunlight and radiation. We recommend such lenses also for operators in the mountainsand at the seaside where sun radiations is high, as well as in tropical areas.
Intercast completes the polarizing filter family: polycarbonate filters obtained by mould injection and sheet polycarbonate are the new entries to the existing line of filters made in cast CR-39 and sheet tri-acetate.
The market now has the most versatile collection of polarizing lenses, suitable for each and every need for good quality lenses and affordable prices.
In response to increasing market requests, Intercast presents a new polycarbonate polarizing filter having exceptional optical quality (in normal and decentered versions) high polarizing efficiency and high impact and scratch resistance.
The patented technique used by Intercast has permitted the elimination of the typical problems normally given by this product, with the following result obtained:
The product is available in the versions base 6D and base 8E decentered.
SINTERŽPOLAR SAG PC
They are polycarbonate anti-scratch polarizing lenses. The polarizing filter is laminated between two polycarbonate sheets using a consolidated technique that permits their obtainment at limited costs.
SINTERŽCAST XP: High contrast equalizing lenses
Intercast has developed a new family of functional filters which associates the properties of chromatic enhancement and high comfort to the advantage of having classic lens colors (gray, brown, green).
Contrast improvement is possible by calibrating the filtering effect in the visible spectrum improving the eye’s capability to discriminate colors while emphasizing the chromatic differences.
More details can be read in the report: Sunlight filters: eye protection and improvement of visual performances in this same web site.
SINTERŽ Fashion Trend Spring 2007
The fashion line is enriched by a new spread of double color and double shade lenses without compromising eye protection against ultraviolet radiation, cosmetically decorated with a flash mirror coating having superior reliability.
Available in CR39®, APX, NXT®
SAME IMPACT RESISTANT AS POLYCARBONATE BUT
FREE FROM STRESS CRACKING AND PLASTICIZER MIGRATION
The SinterŽ APX lens has been developed to overcome the well
known problems polycarbonate lenses encounter in mounting (stress
cracking in metal frames, migration crazing from acetate frames
and electrostatic stickers) limiting their use in high quality
sophisticated frame designs.
The SinterŽ APX lens is manufactured by injection moulding using
a new patented material which gives the product an exceptional
resistance to stress cracking as well as absence of haze and
micro cracking lens phenomenons caused by plasticizer migration.
SinterŽAPX lenses are hard coated, same as polycarbonate.
The SinterŽAPX lens is totally compatible with all types of
materials used in frames whereas the polycarbonate is not.
The main advantages of SinterŽAPX over polycarbonate lenses are:
SinterŽ APX impact resistance is
equivalent to polycarbonate lenses. Particularly, SinterŽ APX
lens passes all high and low energy tests required by the ANSI
Z87.1-1989 STANDARD for occupational eye and face protection.
The most severe tests are:
With SinterŽAPX you can forget all
problems known to polycarbonate. Contact us for samples and
further information.
Intercast has a new treatment which facilitates water drops to slide off from the lens surface, permitting a clearer vision without distortion even when using the sunglass in aquatic environments or in the rain.
The treatment rejects the water drops which slide off from the lens’s surface, leaving a perfectly dry surface.
By observing a water drop on a water-repellent surface, you will notice that it assumes a spherical form. By slanting the lens, the water drop slides off without leaving a trace.
When the lens surface has not undergone such a treatment, the water drop assumes a semi-spherical form which sticks to the lens surface. By slanting the lens, the water drop has difficulty in sliding off leaving water traces on the lens surface.
The treatment can be made on CR-39 and Polycarbonate. It is particularly complimentary to polarizing lenses.
Intercast introduces a new treatment which prevents lens fogging for a considerable amount of time (up to 5 min. if tested according to the EN 168 test method), avoiding a visual clarity and safety compromise in critical situations. This particular anti-fog technology, defined by Intercast, can be applied to CR-39 and polycarbonate lens, either on the internal surface only or on both sides of the lens. Intercast’s anti-fog treatment can also be applied to base 6D or base 7D masks and can also be combined with a mirror treatment. Intercast's antifog treatments has been market tested during the past season and brilliantly passed the most severe environmental conditions.
New high efficiency antireflective coating
at a low price.
The distracting reflections from the inside surfaces of sunglass
lenses can be one of the leading causes of reduced visual acuity
and contrast. In certain situations, this "visual
noise" can make it nearly impossible to distinguish the
objects or scenes we are trying to observe through the lens. In
fact, a high efficiency anti-reflection coating, can improve
contrast and visual clarity by 3 to 4 times in many common use
situations.
The most common anti-reflective treatments for sunwear today are
generally poor in efficiency, produced with one to three layers,
often designed to make the coating more rather than less visible,
resulting in a compromise to visual performance. The most
optimized multilayer treatments are reserved for ophthalmic
lenses due to their high costs.
In response to the growing need for improved anti-reflective
treatments which are compatible with sunglass market cost
objectives, Intercast has developed a new anti-reflective
multilayer coating (MAC2) specifically designed for use in
sunwear and characterized by high efficiency, durability, and
contained costs.
MAC2 offers at least 2 times lower reflection than typical AR
commercial coatings.
Comparison to different types of antireflective treatments:
The Hard Resin Institute, which Intercast Europe is member of, is
a non-profit organisation which was recently founded (Silmo '98)
by members who have a common interest in stimulating the interest
for Hard Resin as a class of ophthalmic and sunlens materials.
The Institute's goals are to:
The targeted audiences are:
The current members are:
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For further information,
please visit the EHRI Web Site: http://www.hardresin.com
THRAMAŽ DRIVE for LUXOTTICA and BMW
A NEW CONTRIBUTION TO DRIVING SAFETY
Today’s automobile advertising campaigns are increasingly focused on car safety; the consumer’s sensitivity to this aspect of the product greatly influences the decision process and final purchase choice.
Driving safety greatly depends on the driver’s reaction time to moving objects and unexpected obstacles.
Improved image perception means faster visual response and better vision means safer driving.
To provide better vision for driving, Intercast Europe has developed and patented the filter, ThramaŽ Drive, specifically designed and tested for improving visibility and safety in driving.
ThramaŽ Drive is a light equalizer: light colors are filtered normally while image contrast increases. The result is improved visibility in poor conditions such as fog, rain and haze.
ThramaŽ Drive acts upon the visional system’s capability of selective chromatic adaptation increasing the eye’s visibility to colors which are normally less visible (blue, orange, red).
Tests made by the Vision Science Institute of the University of Westminster, London, U.K. have demonstrated how the ThramaŽ Drive lens improves visibility of car lights, stop lights, traffic signals and warning lights in poor visibility conditions such as rain, snow, haze or fog.
Increased visibility given by ThramaŽ Drive reduces the reaction time to half the normal reaction time leading to double the safety when a car must suddenly be stopped.
Tests carried out at the Aalen University, Germany, on behalf of the CEN organization (European Committee for Standardization) have also classified ThramaŽ Drive, amongst the 12 lenses tested, the absolute best all-round lens in all driving conditions simulated.
ThramaŽ Drive, which is manufactured exclusively for the Luxottica group, who has launched it in the Sergio Tacchini collection line, has been recently chosen by the noteworthy automobile maker BMW for the V.I.S. (Visibility Improvement System) project aimed to improve safety in driving.