Essilor International Compagnie

PPG Industries said its Chemicals Group will form a joint venture with a French firm to manufacture and market special contact lenses, forming a new company that will be headquartered in St. Petersburg, Fla. PPG and Essilor International of France have reached an agreement in principle to make ophthalmic-quality lenses for consumer eye wear. PPG would hold 51% of the new company, officials said. The deal is subject to approval by boards of directors of both companies.

PPG Industries said its Chemicals Group will form a joint venture with a French firm to manufacture and market special contact lenses, forming a new company that will be headquartered in St. Petersburg, Fla. PPG and Essilor International of France have reached an agreement in principle to make ophthalmic-quality lenses for consumer eye wear. PPG would hold 51% of the new company, officials said. The deal is subject to approval by boards of directors of both companies.