Orbotech Announces the Receipt of First Order for Photovoltaic Systems
08 Março 2011 - 7:20AM
Business Wire
ORBOTECH LTD. (NASDAQ/GSM SYMBOL: ORBK) today announced receipt
by its subsidiary, Orbotech LT Solar, LLC, of the first order for
its newly-developed product for the deposition of anti-reflective
coating on crystalline silicon photovoltaic wafers for solar energy
panels. Following successful initial testing of this product, this
beta site order is expected to be delivered during the second
quarter of 2011. Product acceptance by the customer is subject to
the achievement of certain technical and
performance-to-specification approvals by the customer. Because
this is a beta site order, the Company will not recognize any
revenue from this sale until broader commercialization.
Commenting on the receipt of this order, Rani Cohen, President
and Chief Executive Officer, said: “We are very pleased to be able
to announce this milestone in the Company’s history. Although still
at the beta site stage, this order marks the initial
commercialization of a new business area for Orbotech and an
important expansion, beyond our traditional yield-enhancing and
production solutions for PCB and FPD customers, into the area of
solar energy manufacturing. It also highlights the critical
importance of our continuing emphasis on judicious, long-term
investments in research and development and the benefits to the
Company of pursuing our strategy of growth through both organic and
inorganic means.”
About Orbotech Ltd.
Orbotech is a leading global provider of yield-enhancing and
production solutions for printed circuit boards (PCBs), which are
used in various electronic devices, including smartphones and
tablets, and yield-enhancing solutions for liquid crystal displays
(LCDs) and touch screens. The Company’s extensive network of
marketing, sales and customer support teams, located in over 40
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, without limitation, cyclicality in the
industries in which the Company operates, the Company’s production
capacity, timing and occurrence of product acceptance, 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 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, the ability to sell OMD in the timeframe
anticipated, if at all, 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, 2010. 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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