Hoya to buy Seiko Epson eyeglass lens ops, targets global expansion

TOKYO Fri Nov 16, 2012 6:17am GMT

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TOKYO (Reuters) - Hoya Corp (7741.T) said on Friday it will take control of Seiko Epson Corp's (6724.T) eyeglass lens development and manufacturing business as part of a partnership to expand sales of eyewear products globally.

Hoya, which did not disclose the deal price, said it will first take a 30 percent stake in Seiko's wholly owned subsidiary Seiko Optical Products Co on February 1 next year and will take an additional 20 percent of the eyeglass lens maker on March 31, 2014.

(Reporting by Tokyo Newsroom; Editing by Michael Watson)