PPG Industries informed on 4 May 2005 that it has reached agreement to acquire the business of International Polarizer Holdings Trust, a privately held polarized film manufacturer for sun lens applica…
PPG Industries informed on 4 May 2005 that it has reached agreement to acquire the business of International Polarizer Holdings Trust, a privately held polarized film manufacturer for sun lens applications. Though terms of the agreement were not released, PPG officials said they would continue to operate the business under the International Polarizer name. Officials from both companies said they expect to complete the transaction by the end of the 2Q. Dr. Richard Phillips, owner of International Polarizer, will remain as president of the business, reporting to Richard C. Elias, PPG“s vice president of optical products. “We are excited about this acquisition and the opportunity it presents PPG to expand its presence in the optical materials business to better serve the industry,” Elias said. “Dr. Phillips is a respected physicist and author, and we welcome his continued participation.” Located in Marlborough, Massachusetts, International Polarizer is the world“s largest manufacturer of sunglass polarizer, producing more than 1 million square feet (92,903 square meters) of polarizer sheet a year. Products include sunglass polarizers, precision curved wavers, technical polarizers, wave retarders, circular polarizers and 3-D polarizers.