- Report of Foreign Issuer (6-K)
09 Dezembro 2008 - 10:29AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
For the month of
December 2008
Commission File Number 000-12790
ORBOTECH LTD.
(Translation of Registrants name into English)
SANHEDRIN BOULEVARD, NORTH INDUSTRIAL ZONE, YAVNE 81101, ISRAEL
(Address of principal executive
offices)
Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form
20-F
X
Form
40-F
Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
No
X
Attached hereto and incorporated by reference herein is the following document:
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Press release issued by the Registrant on, and dated, December 8, 2008, and entitled Orbotech Ltd.: Dispute Reference to Arbitration.
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This report on Form 6-K is incorporated by reference into the Registration Statements on Form S-8 (Registration No. 33-25782, Registration No. 33-78196,
Registration No. 333-05440, Registration No. 333-06542, Registration No. 333-08404, Registration No. 333-09342, Registration No. 333-11124, Registration No. 333-12692, Registration No. 333-127979 and Registration
No. 333-154394) of Orbotech Ltd. previously filed with the Securities and Exchange Commission.
FOR IMMEDIATE RELEASE
ORBOTECH LTD.: DISPUTE REFERENCE TO ARBITRATION
YAVNE, ISRAEL December 8, 2008
ORBOTECH LTD. (NASDAQ/GSM SYMBOL: ORBK) today announced that on December 4, 2008, the Company was notified by GE Healthcare, a unit of General Electric Company (GE), and its division GE Healthcare Systems Israel Ltd.
(GEMSI), that it is referring a dispute with the Company and its subsidiary, Orbotech Medical Solutions Ltd. (OMS) to arbitration in Israel in accordance with the terms of an agreement between the Company and GEMSI from
December 2004 (the Agreement) which had been assigned to OMS and which expired in December 2007. The dispute relates, among other things, to a claim by GEMSI that OMS has an obligation to supply it with CZT modules at a specific
price per module. OMS believes it is under no obligation to supply these modules. The proceeding is at an early stage, an arbitrator has yet to be appointed and the Company and OMS have not yet received a statement of claim. Based on the information
currently available to them, the Company and OMS believe they have good defenses against any such claim, which they intend to defend vigorously.
In addition, a separate dispute which is not under the Agreement is currently the subject of litigation between the Company and GE in the United States District Court for the Central District of California. On November 4, 2008, GE
filed a complaint against the Company claiming breach of contract and requesting specific performance, injunctive relief, declaratory relief and damages. GE also filed a motion for a preliminary injunction. The dispute at issue in that matter
relates to GEs claim that OMS has an obligation to supply GEMSI with 850 CZT modules. The suit is in preliminary stages and the Company will be filing a motion to dismiss GEs complaint for lack of personal jurisdiction, improper service
and inconvenient forum and to continue GEs motion for a preliminary injunction until after the courts ruling on the Companys motion to dismiss. The Company believes it has good arguments to dismiss GEs complaint as well as
good arguments on the merits should the court determine it will hear the case and intends to defend it vigorously.
About Orbotech
Ltd.
Orbotech is principally engaged in the design, development, manufacture, marketing and service of yield-enhancing and
production solutions for specialized applications in the supply chain of the electronics industry. Orbotechs products include automated optical inspection (AOI) and process control systems for bare and assembled printed circuit
boards (PCBs), imaging solutions for PCB production and AOI, test and repair systems for flat panel displays (FPDs). Orbotech also markets computer-aided manufacturing and engineering (CAM) solutions for PCB
production. In addition, through its subsidiary, Orbograph Ltd., Orbotech develops and markets automatic check reading solutions to banks and other financial institutions, and has developed a proprietary technology for web-based,
location-independent data entry for check processing and forms processing; and, through its subsidiaries, Orbotech Medical Denmark A/S and Orbotech Medical Solutions Ltd., is engaged in the research and development, manufacture and sale of
specialized products for application in medical nuclear imaging. Of Orbotechs employees, more than one quarter are scientists and engineers, who integrate their multi-disciplinary knowledge, talents and skills to develop and provide
sophisticated solutions and technologies designed to meet customers long-term needs. Orbotech maintains its headquarters and its primary research, development and manufacturing facilities in Israel, and more than 30 offices worldwide.
Orbotechs extensive network of marketing, sales and customer support teams throughout North America, Europe, the Pacific Rim, China and Japan deliver its knowledge and expertise directly to customers the world over. For more information visit
www.orbotech.com.
Except for historical information, the matters discussed in this press release are forward-looking
statements that are subject to certain risks and uncertainties which could cause the actual results to differ materially from those projected, including industry trends, the timing and strength of product and service offerings, changes in business
or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a
global, regional or national basis and other risks detailed from time to time in the Companys SEC reports. The Company assumes no obligation to update the information in this press release.
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COMPANY CONTACTS:
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Adrian Auman
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Michelle Harnish
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Corporate Vice President of
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Marketing Communications Manager
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Finance and Investor Relations
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Orbotech, Inc.
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Orbotech Ltd.
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+1-978-901-5120
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+972-8-942-3560
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ORBOTECH LTD.
(Registrant)
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By:
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/s/ Amichai Steimberg
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Amichai Steimberg
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Executive Vice President
and Chief Financial Officer
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Date: December 9, 2008
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