BUSINESS Hoya and Jiangsu Sigo Optical Founder Form Joint Venture for Spectacle Lenses By Staff Friday, August 5, 2022 12:27 AM BANGKOK—Hoya Vision Care announced that it has entered into a strategic joint venture with Liu Jianzhong, founder and CEO of Chinese eyeglass lens manufacturer Jiangsu Sigo Optical. The partnership will provide Hoya with access to a wider range of high-quality plastic and polycarbonate finished single vision lenses, enhancing the company’s existing lens portfolio and providing a more sustainable supply chain for customers, according to a statement released by Hoya. Under the terms of the transaction, Hoya will receive an almost 61 percent equity stake with Liu Jianzhong retaining over 39 percent ownership interest.JSO will continue to operate and manage their manufacturing and distribution facilities in Danyang, China as a separate entity. The facility employs more than 450 team members. “Our equity stake in Jiangsu Sigo Optical will help us deliver on our commitment to provide high quality, spectacle lenses at a competitive price to meet the growing demand of our customers globally,” said Alexandre Montague, CEO, Hoya Vision Care. “In addition to Sigo’s strong manufacturing capabilities, the joint venture provides more scale and flexibility in our sourcing as well as access to their innovation in low-cost materials. We are confident that we will leverage our complementary strengths to cater to the growing global markets, especially in the U.S. and Latin America.” Jianzhong commented, “We are fully aligned and committed to the common mission as defined by Hoya Vision Care: keep providing higher quality lens products with innovation. Establishing a solid partnership with one of the world’s leading optical groups provides us with a great opportunity to improve our operational, technological and commercial excellence under Hoya’s leadership. We are looking forward to contributing to the exciting future and success of this joint venture.” Jiangsu Sigo Optical Co. was founded in 1998. Its factory, located in Danyang, the base of lens manufacturing in China, engages in manufacturing and selling all kinds of resin lenses, including single vision lenses, tinted lenses, bifocal lenses, photochromic lenses and semi-finished lenses, with more new types of lenses continuously being introduced into the worldwide market. Since 2005, its products have been exported to more than 80 countries—the U.S., Europe, South America, and Southeast Asia. The company’s R&D team designs innovative, fashionable lenses led and is supported by more than 450 team members.