YAVNE, Israel, Aug. 28, 2017 /PRNewswire/ --
Orbotech Ltd., (NASDAQ: ORBK) a leading global supplier of
yield-enhancing and process-enabling solutions for the manufacture
of electronics products, today announced a multi-million-dollar
agreement with Unimicron Germany GmbH (formerly RUWEL
International) for the purchase of Orbotech's direct imaging (DI),
automated optical inspection (AOI) and automated optical shaping
(AOS) PCB production solutions. Unimicron Germany is in the process
of rebuilding its inner layer fab as a fully automated Industry
4.0, state-of-the-art facility, and upgrading its Outerlayer and
Solder Mask capacity and capabilities.
Unimicron Germany GmbH specializes in high-end, high-reliability
manufacturing for automotive electronics, renewable energy and
industrial markets. The site is expected to be fully functional in
the first half of 2018.
Among the Orbotech solutions Unimicron Germany has ordered are
the latest members of the Nuvogo™ family for direct imaging;
Orbotech Diamond™ 8 for high throughput solder mask direct imaging;
Fusion™ 22 AOI with 2D metrology in process quality control (IPQC);
Precise™ 800 AOS system for 3D shaping of any layer HDI and complex
multi-layer boards; and Orbotech Smart Factory for Industry
4.0-compliant, integrated PCB production.
"Following the fire which devastated our facility last year, we
have a unique opportunity to rebuild and improve on our past
successes," said Mr. Gerard van
Dierendonck, CEO of Unimicron Germany. "We are committed to
making the facility more environmentally and energy friendly, as
well as ensuring the highest level of flexibility with the lowest
total cost of ownership. We selected Orbotech's solutions because
they enable us to achieve our goals and are the best fit for our
customers' present and anticipated production and technology
needs."
"We are delighted to be able to provide a wide range of PCB
production solutions as part of Unimicron Germany's rebuilding
project and to further deepen our relationship," stated Mr.
Sharon Cohen, President of Orbotech
West. "Our Industry 4.0-compliant solutions meet Unimicron's
specific advanced technology and reliability needs and enable and
ensures traceability, which is critical for automotive and other
high-reliability PCB applications. In addition, our comprehensive
customer service offering, with our one-stop monitoring center, is
designed to provide pro-active, preventative measures which can
troubleshoot any potential issues, such as downtime, before they
even occur."
"Orbotech's solutions are a perfect fit for our strategy moving
forward and our aim of building the most modern inner layer factory
possible," said Mr. Rico Schlüter,
CTO of Unimicron Germany. "As the European PCB industry continues
to make significant changes, we are determined to invest in
state-of-the-art equipment that will grow with us."
About Unimicron Germany GmbH
Unimicron Germany (formerly known as RUWEL International GmbH) is
part of the Unimicron Technology Corporation, and is one of the
most important producers of circuit boards in Europe. Unimicron Germany has production
capacity in both Europe and
Asia managed by one team of highly
dedicated professionals based in Germany. Unimicron Germany's maxim is to be a
technology trendsetter with innovations to set the pace for
technical progress. The company aims to help clients to optimize
their PCB designs, provide rapid prototyping and sample production
and place particular focus on producing small to medium volumes of
highly complex PCBs. By continuously transferring process know-how
and technology within the High Reliability Business Unit (HRBU),
high volume clients are served equally well, while getting great
value from the lower cost base in Asia. For more information,
visit http://www.unimicron-germany.de.
About Orbotech Ltd
Orbotech Ltd. is a leading global supplier of yield-enhancing and
process-enabling solutions for the manufacture of electronics
products. Orbotech provides cutting-edge solutions for use in the
manufacture of printed circuit boards (PCBs), flat panel displays
(FPDs), and semiconductor devices (SDs), designed to enable the
production of innovative, next-generation electronic products and
improve the cost effectiveness of existing and future electronics
production processes. Orbotech's core business lies in enabling
electronic device manufacturers to inspect and understand PCBs and
FPDs and to verify their quality ('reading'); pattern the desired
electronic circuitry on the relevant substrate and perform three
dimensional shaping of metalized circuits on multiple surfaces
('writing'); and utilize advanced vacuum deposition and etching
processes in SD and semiconductor manufacturing ('connecting').
Orbotech refers to this 'reading', 'writing' and 'connecting'
as enabling the 'Language of Electronics'. For more information,
visit http://www.orbotech.com and http://www.spts.com.
Cautionary Statement Regarding Forward-Looking
Statements
Except for historical information, the matters discussed in this
press release are forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995.
These statements relate to, among other things, future
prospects, developments and business strategies and involve certain
risks and uncertainties. The words "anticipate," "believe,"
"could," "will," "plan," "expect" and "would" and similar terms and
phrases, including references to assumptions, have been used in
this press release to identify forward-looking statements.
These forward-looking statements are made based on
management's expectations and beliefs concerning future events
affecting Orbotech and are subject to uncertainties and factors
relating to Orbotech's operations and business environment, all of
which are difficult to predict and many of which are beyond the
Company's control. Many factors could cause the actual
results to differ materially from those projected including,
without limitation, cyclicality in the industries in which the
Company operates, the Company's production capacity, timing and
occurrence of product acceptance (the Company defines 'bookings'
and 'backlog' as purchase arrangements with customers that are
based on mutually agreed terms, which, in some cases for bookings
and backlog, may still be subject to completion of written
documentation and may be changed or cancelled by the customer,
often without penalty), fluctuations in product mix, within and
among divisions, worldwide economic conditions generally,
especially in the industries in which the Company operates, the
timing and strength of product and service offerings by the Company
and its competitors, changes in business or pricing strategies,
changes in the prevailing political and regulatory framework in
which the relevant parties operate, including as a result of the
'Brexit' process and administration change in the United States, or in economic or
technological trends or conditions, including currency
fluctuations, inflation and consumer confidence, on a global,
regional or national basis, the level of consumer demand for
sophisticated devices such as smartphones, tablets and other
electronic devices as well as automobiles, the Company's global
operations and its ability to comply with varying legal,
regulatory, exchange, tax and customs regimes, the timing and
outcome of tax audits, including the ongoing audit of tax years
2012-2014 in Israel (see below),
the Company's ability to achieve strategic initiatives, including
related to its acquisition strategy, the Company's debt and
corporate financing activities; the final timing and outcome, and
impact of the criminal matter and ongoing investigation in Korea,
including any impact on existing or future business opportunities
in Korea and elsewhere, any civil actions related to the Korean
matter brought by third parties, including the Company's customers,
which may result in monetary judgments or settlements, expenses
associated with the Korean matter, and ongoing or increased
hostilities in Israel and the
surrounding areas. In addition, in May
2017 the Company received a $58
million assessment from the Israel Tax Authority with
respect to the ongoing tax audit in Israel. The Company believes that it has
provided adequately for any reasonably foreseeable outcomes related
to the tax audit; however, future results may include unfavorable
material adjustments to estimated tax liabilities in the period
when the assessment is resolved or the audit is closed. In
addition, the Israel Tax Authority is investigating the Company's
tax positions. Given that the process is in its preliminary
stages, the Company cannot assure the outcome or timing of
completion of the assessment process or investigation, including
the amount of tax ultimately payable, and additional penalties,
criminal sanctions, fines and other amounts that may be imposed as
a result of the assessment and investigation, which may be material
in amount or in adverse impact on the Company's results of
operations, financial position and reputation. The outcome
may also impact the Company's results of operations as a result of
tax positions taken for subsequent fiscal years. Furthermore,
during the second quarter of 2017, the Company elected to implement
certain provisions of the Israeli Law for the Encouragement of
Capital Investments related to preferred enterprises in
Israel. Although the Company
is unable to predict the precise impact of this tax election, it
believes the tax election will be beneficial over the long term and
it does not expect that the tax election will result in a material
increase in its effective tax rate for 2017. The foregoing
information should be read in connection with the Company's Annual
Report on Form 20-F for the year ended December 31, 2016, and subsequent SEC filings.
The Company is subject to the foregoing and other risks
detailed in those reports. The Company assumes no obligation
to update the information in this press release to reflect new
information, future events or otherwise, except as required by
law.
ORBOTECH COMPANY CONTACTS:
Rami Rozen
Director of Investor Relations
Tel: +972-8-942-3582
Investor.relations@orbotech.com
Tally Kaplan Porat
Director of Corporate Marketing
Tel: +972-8-942-3603
Tally-Ka@orbotech.com
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SOURCE Orbotech Ltd.