YAVNE, Israel, April 30, 2015 /PRNewswire/ -- Orbotech Ltd.
(NASDAQ: ORBK) today announced that Doron
Abramovitch, Chief Financial Officer, has decided to leave
the Company in the coming months to pursue other interests.
Asher Levy, Chief Executive
Officer, stated: "On behalf of the Company, and personally, I would
like to wish Doron well for the future and to thank him for his
contribution over the last four years, during which he played an
instrumental role in the growth of the Company and its operational
and profitability profile."
Mr. Abramovitch will continue to serve in his role at the
Company to support an orderly transition until his successor has
been appointed and is fully on board.
About Orbotech Ltd.
Orbotech Ltd. (NASDAQ:ORBK) is a global innovator of enabling
technologies used in the manufacture of the world's most
sophisticated consumer and industrial products throughout the
electronics and adjacent industries. The Company is a leading
provider of yield enhancement and production solutions for
electronics reading, writing and connecting, used by manufacturers
of printed circuit boards, flat panel displays, advanced packaging,
micro-electro-mechanical systems and other electronic components.
Today, virtually every electronic device in the world is produced
using Orbotech systems. For more information, visit
http://www.orbotech.com/.
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 Orbotech's 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, timing and extent of achieving the anticipated
benefits of the acquisition of SPTS; Orbotech's ability to
effectively integrate and operate SPTS's business, the timing,
terms and success of any strategic or other transaction,
cyclicality in the industries in which the Company operates, the
Company's production capacity, timing and occurrence of product
acceptance (the Company defines 'bookings' and 'backlog' as
purchase arrangements with customers that are based on mutually
agreed terms, which, in some cases for bookings and backlog, may
still be subject to completion of written documentation and may be
changed or cancelled by the customer, often without penalty),
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 each of 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 timing for a verdict in the ongoing appeal
of the criminal matter and ongoing investigation in Korea, the
final outcome and impact of this matter, 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, ongoing or increased hostilities in Israel 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,
2014, 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.
COMPANY CONTACTS:
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Anat Earon-Heilborn
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Ann
Michael
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Director of Investor Relations
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Senior Corporate
Marketing
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Orbotech Ltd.
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Communications
Manager
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Tel: +972-8-942-3582
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Orbotech
Ltd.
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Tel: +972-8-942-3148
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visit:http://www.prnewswire.com/news-releases/orbotech-announces-that-chief-financial-officer-doron-abramovitch-will-be-leaving-the-company-300074985.html
SOURCE Orbotech Ltd.