Orbotech Lt Solar Receives $10 Million in Orders from Solar Panel Manufacturers
16 Dezembro 2013 - 7:44AM
Business Wire
-- Thin Film Deposition System to Improve
Device Performance and Reduce Production Costs --
ORBOTECH LTD. (NASDAQ/GSM SYMBOL:ORBK), today announced the
receipt of initial purchase orders totaling approximately $10
million by its subsidiary ORBOTECH LT SOLAR, LLC (“OLTS”)
for its Aurora PECVD® thin film deposition system from leading
solar panel manufacturers. Deliveries on these orders are expected
to commence in the first half of 2014, and are subject to customary
terms and conditions including product acceptance.
Commenting on this announcement, Dr. Kam Law, Chief Executive
Officer of OLTS, said: “Conditions in the solar energy industry
appear to be improving. Major suppliers are increasing their
production levels and stepping up their capital spending, making
this a particularly opportune time to introduce our new deposition
tool, the Aurora PECVD®. This product incorporates a highly
innovative system design and superior process flexibility, enabling
the deposition of multiple high quality films with remarkably low
power consumption, and will support our customers in manufacturing
high efficiency solar devices at significantly reduced running
costs.”
Asher Levy, Chief Executive Officer of Orbotech Ltd., added:
“These orders for the Aurora PECVD®, which are expected to
culminate in the first recognition of revenue for OLTS, demonstrate
the substantial added value which we believe OLTS will be able to
provide to major industry suppliers. We also believe these orders
mark the beginning of a major additional area of potential business
for the Company and that this highly innovative technology will
open up further opportunities for the Company in the solar energy
industry.”
About OLTS
OLT Solar, located in the heart of Silicon Valley, has brought
to market a new PECVD deposition system for the crystalline silicon
solar cell manufacturing. By combining a novel concept and
efficient design in its initial product, the Aurora PECVD®, with
Orbotech’s global infrastructure, OLT Solar is uniquely positioned
to support the growth and success of the solar renewable energy
industry. For more information please visit www.oltsolar.com.
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. 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,” “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, the timing, terms
and success of any strategic transaction, the final outcome and
impact of the 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, 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, and subsequent SEC
filings. 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 Ltd.Adrian Auman, +972-8-942-3560Corporate Vice
President Investor Relations and Special ProjectsorOrbotech,
Inc.Michelle Harnish, +1-603-289-7937Marketing Communications
Manager
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