Orbotech Announces Organizational Changes to Promote New Growth Opportunities
11 Julho 2013 - 6:58AM
Business Wire
ORBOTECH LTD. (NASDAQ/GSM SYMBOL: ORBK) today announced the
creation of two new corporate units: “Strategy and Business
Development” and “Global Product Organization”.
The new Strategy and Business Development unit will be focused
towards capitalizing on growth opportunities in new areas that are
complementary to the Company’s strength as a leader in digital
production and yield-enhancing solutions for manufacturers of PCBs,
FPDs and other electronic components. This is intended to enable
Orbotech to leverage its core technological competencies and its
global infrastructure to expand into new growth areas. This unit,
which will be managed by Mr. Richard Klapholz, Executive Vice
President for Strategy and Business Development, will have overall
responsibility for the Company’s business development activities
and for its strategic plan. Mr. Klapholz has been with Orbotech for
15 years, serving in senior management positions, including most
recently as Executive Vice President Electronics Business and,
prior to that, as Corporate Vice President and President of the PCB
Division at Orbotech Ltd. and earlier as President of Orbotech
Pacific Ltd.
The Company’s research and development activities will be
reorganized under the umbrella of the Global Product Organization
unit. This unit will focus on developing and implementing the
Company’s short and long term research and development strategy and
on better positioning Orbotech to pursue new business
opportunities. This organizational change is designed ultimately to
benefit customers by improving the time to market for new and
innovative products that will enable them to meet increasingly
difficult challenges in the manufacture of sophisticated electronic
components and devices. This unit will be managed by Mr. Yovav
Sameah who will assume the position of Corporate Vice President and
Chief Product Officer. Mr. Sameah has been with Orbotech for 14
years, serving most recently as Vice President for the Electronic
Component Manufacturing Business and, prior to that, as Vice
President for the Automated Optical Inspection Product Line.
Commenting on these organizational changes, which will become
effective on September 1, 2013, Mr. Asher Levy, Chief Executive
Officer at Orbotech Ltd., said: “These organizational changes are
designed to establish growth as a top priority in the years to
come. They will further leverage our core assets throughout the
Company, enhance our agility and provide accelerated time-to-market
capabilities, which will be needed to capitalize on the many
emerging high growth areas in the electronics industry and adjacent
sectors. We expect this to translate into new business for Orbotech
in 2014 and beyond.” Mr. Levy added: “Orbotech will continue to
provide innovative solutions through research and development
throughout various economic cycles, anticipate technological trends
and invest in preserving its technological leadership.”
About Orbotech Ltd.
Orbotech Ltd. (NASDAQ/GSM: ORBK) has been at the cutting edge of
the electronics industry supply chain, as an innovator of enabling
technologies used in the manufacture of the world’s most
sophisticated consumer and industrial products, for over 30 years.
The Company is a leading provider of yield-enhancing and production
solutions, primarily for manufacturers of printed circuit boards,
flat panel displays and other electronic components; and today,
virtually every electronic device is produced using Orbotech
technology. The Company also applies its core expertise and
resources in other advanced technology areas, including character
recognition for check and forms processing and solar photovoltaic
manufacturing. Headquartered in Israel and operating from multiple
locations internationally, Orbotech’s highly talented and
inter-disciplinary professionals design, manufacture, sell and
service the Company’s end-to-end portfolio of solutions for the
benefit of customers the world over. For more information please
see the Company’s filings with the U.S. Securities and Exchange
Commission (the “SEC”) at www.sec.gov. and visit the
Company’s corporate website at www.orbotech.com. The corporate
website is not incorporated herein by reference and is included as
an inactive textual reference only.
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,”,
“design,” “will,” “plan,” “provide,” “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, the
timing, terms and success of any strategic transaction, the outcome
and impact of the pending criminal matter and ongoing investigation
in Korea, including its 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, cyclicality in the
industries in which the Company operates, the Company’s production
capacity, timing and occurrence of product acceptance, fluctuations
in product mix, 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, the timing, terms and success of any new business
development activities, including any strategic transaction, our
ability to implement and deliver on the goals of the internal
reorganization, our ability to develop innovative products, 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 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, 2012. 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.
COMPANY:Orbotech Ltd.Adrian Auman, +972-8-942-3560Corporate Vice
President Investor Relationsand Special ProjectsorMichelle Harnish,
+1-603-289-7937Marketing Communications Manager
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