ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that it has entered into an agreement to sell its
safety prescription eyewear business to HOYA Vision Care, a global
leader in the eyeglass lens industry. The safety prescription eyewear
business is part of 3M’s Personal Safety Division, which is in the
Safety & Graphics Business. Terms of the transaction were not disclosed.
The business, with more than 90 years as an industry leader in safety
prescription eyewear in North America, provides a comprehensive line of
frames, prescription lenses, and premium coating options in a
custom-made solution. 3M’s safety prescription eyewear business has
annual global sales of approximately $45 million.
“After a thorough strategic review, we have decided to exit the safety
prescription eyewear business to focus on our core personal safety
businesses,” said Bernard Cicut, vice president and general manager,
Personal Safety Division. 3M will retain its safety non-prescription
eyewear business, often referred to as plano eyewear.
3M is a global leader in personal safety solutions, including
respiratory protection, fall protection, hearing protection, and plano
(non-prescription) eye protection.
The transaction is expected to close during the first quarter of 2017,
subject to customary closing conditions. Approximately 140 3M employees
are expected to join HOYA after the transaction has closed.
At 3M, we apply science in collaborative ways to
improve lives daily. With $30 billion in sales, our 90,000 employees
connect with customers all around the world. Learn more about 3M’s
creative solutions to the world’s problems at www.3M.com
or on Twitter @3M or @3MNewsroom.