BOE Signs Major, Multi-Million Dollar Agreement for Orbotech Systems
02 Agosto 2010 - 3:27AM
Business Wire
ORBOTECH LTD. (NASDAQ/GSM SYMBOL: ORBK) today announced that it
has been selected as the ‘vendor of choice’ by Beijing Oriental
Electronics (BOE) Technology Group, with the purchase of multiple
Array Tester and Automated Optical Inspection (AOI) systems valued
at approximately $50 million dollars to be utilized in BOE’s new
Gen-8 LCD panel television fabrication facility in Beijing, China.
Deliveries to this plant are expected to commence towards the end
of 2010.
Commenting on this order, BOE said: “We are strongly committed
to technology development and plan to continue increasing
production capacity with fast ramp-up for high-end LCD products to
meet our customers’ needs. This new generation of Orbotech systems
will help BOE maintain its favorable competitive position and
enable us to continue our current growth path and remain a
first-tier supplier over the coming years.”
Mr. Moshe Ashkenazi, President, Display Asia Pacific, added:
“BOE is a world leader in the display panel industry and an
important strategic customer of Orbotech. They are investing
significantly in new Gen-8 fabrication facilities in China and have
selected Orbotech as an integral part of their production strategy.
We are very proud that they have chosen our new Gen-8 FPD Array
Checker and Gen-8 AOI systems for this plant, reinforcing our
belief that Orbotech has the proven yield management technology and
support capabilities necessary to contribute to BOE’s advancement
in the production of LCD panels on a large scale.”
About Beijing Oriental
Electronics (BOE) Technology Group
Established in 1993 and listed in the Shenzhen Stock exchange
since 1997, BOE TECHNOLOGY GROUP CO., LTD. is a China-based company
primarily engaged in the research, development, manufacture and
sale of thin-film transistor-liquid crystal displays (TFT-LCDs).
The Company provides TFT-LCD products for Information Technology
(IT) and televisions, TFT-LCD products for mobile products and
application products, display light products, display systems and
solutions; other display components and support products. In
addition, the Company is also engaged in the international business
park business. The Company distributes its products in domestic and
overseas markets. Currently, BOE employs more than 12900 employees
around the world and is the largest domestic and the world’s No. 9
largest TFT-LCD manufacturer, with total revenue exceeding 6.249
billion Yuan in 2009. BOE has 6 production bases which are located
in Beijing, Sichuan Chengdu, Hebei Gu’an, Anhui Hefei, Jiangsu
Suzhou and Fujian Xiamen and a global sales and service network
covering European, American as well as Asian areas.
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. The Company’s products include
automated optical inspection (AOI), production and process control
systems for printed circuit boards (PCBs) and AOI, test and repair
systems for flat panel displays (FPDs). The Company also markets
computer-aided manufacturing (CAM) and engineering solutions for
PCB production. In addition, through its subsidiary, Orbograph
Ltd., the Company develops and markets character recognition
solutions to banks and other financial institutions, and has
developed a proprietary technology for use, among other things, in
web-based, location-independent data entry for check 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 Orbotech’s 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 corporate
headquarters, executive and registered offices and principal
research and development, engineering and manufacturing facilities
in Israel. The Company’s extensive network of marketing, sales and
customer support teams, located in over 35 offices throughout North
America, Europe, the Pacific Rim, China and Japan, delivers 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 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
its 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 cyclicality in the industries in which
the Company operates, a sustained continuation or worsening of the
worldwide economic slowdown, 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 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 in the
Company’s SEC reports, including the Company’s Annual Report on
Form 20-F for the year ended December 31, 2009. In addition, as a
result of the foregoing considerations and the other limitations
described herein, investors are cautioned not to place undue
reliance on the preliminary and estimated financial information
included herein. 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.
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