Expanding the portfolio of Mitsui Chemicals Group's Vision Care Materials Division
Mitsui Chemicals, Inc. (Tokyo: 4183; President CEO: HASHIMOTO Osamu) today announced that group company SDC Technologies, Inc. has acquired COTEC GmbH. Engaged in the manufacture, sale and research of hydrophobic and anti-reflective coatings, COTEC became a wholly owned subsidiary of SDC on October 1, 2020.
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Mitsui Chemicals Group's product range from ophthalmic lens materials to coating materials creating a business model that delivers QoV (Graphic: Business Wire)
The Mitsui Chemicals Group's Vision Care Materials Division boasts a diverse product range. Its ophthalmic lens materials include the MR series of high refractive index optical lens materials, as well as medium and low refractive index lens materials. In the field of coating materials, the Mitsui Chemicals Group followed up its acquisition of SDC in 2008 by using the group company to bring anti-fog coating specialist FSI Coating Technologies, Inc. under its umbrella in 2010. UV-curable hard coatings producer LTI Coating Technologies, LTI was then acquired in 2014 before being subsequently integrated with SDC in a 2017 absorption-type merger. Now with hydrophobic and anti-reflective coating expert COTEC as its latest acquisition here, the Mitsui Chemicals Group is looking to enhance its offering of coating solutions for the ophthalmic lens market.
The Mitsui Chemicals Group intends to continue expanding the portfolio of its Vision Care Materials Division and, based on the concept of Quality of View (QoV),* will continue to pursue its commitment to product development aimed at vision correction and improving the health and comfort of the eyes. It is all part of the Mitsui Chemicals Group's effort to bring people a better view of the world.
*QoV: A measure of quality and satisfaction in all areas related to eyes and eyesight in our lives. The term encompasses vision optimization and comfort, ocular health and measures to prevent optical diseases.
Composition of shares
Mitsui Chemicals, Inc. (Mitsui Chemicals America, Inc.): 100%
SDC Technologies, Inc.: 100%
Manufacture, sale and research of hard coatings, anti-fog coatings and coating equipment
Manufacture, sale and research of hydrophobic coatings, anti-reflective coatings and process technology
Eyewear, automotive displays, precision optics
U.S., Singapore, U.K., China
"Together we can provide coating materials for all layers of a complete eyewear lens coating stack," said Antonios Grigoriou, CEO and President of SDC. "From Mitsui Chemicals' innovative MR series of high refractive index optical lens materials, to SDC's CrystalCoat top layer best-in-class abrasion resistant hard coats, to COTEC's anti-reflective coating materials and DURALON brand family of nanocoatings offering easy-to-clean finger-print, and anti-smudge and oil/ water repellency."
"We are honored to incorporate this knowhow into the SDC organization," said Michael Fliedner, CEO of COTEC. "Through the partnership with SDC, the expertise of both companies in polymer chemistry and thin film coating technology is being combined. This will strengthen the innovative power of both companies. SDC's existing distribution channels and application facilities will enable COTEC to strengthen its presence in Asia and the Americas."
SDC news release:
Mitsui Chemicals, Inc.