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Monday, January 14, 2013

PPG, Essilor discussing future of Transitions Optical JV, (NYSE: PPG)

PPG Industries Inc said it was in talks with Essilor International SA, the world's largest maker of corrective lenses, about the future of their joint venture Transitions Optical that makes eyeglass lenses with sun-activated tints. Coatings and specialty products maker PPG holds a 51 percent interest in the JV while Essilor holds the rest and is also the venture's largest customer.The talks could lead to either PPG or Essilor selling all or a portion of their interest in Transitions, or a modification of the joint venture's structure, PPG said in a statement.PPG's optical and specialty materials business brought in 7 percent of total sales in the three months ended Sept. 30.The discussions between the two companies are likely to last the next several months, PPG said.

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Shares of PPG remained unchanged at $142.10. In the past year, the shares have traded as low as $86.74 and as high as $142.87. On average, 1455840 shares of PPG exchange hands on a given day and today's volume is recorded at 900.