YAVNE, Israel, December 5, 2016 /PRNewswire/ --
ORBOTECH LTD., (NASDAQ: ORBK) a leading provider
of process innovation technologies, solutions and equipment
enabling the transformation of the global electronics manufacturing
industry, today announced that BOE Technology Group Co., Ltd., a
leading Chinese manufacturer of flat panel displays, has selected
Orbotech's advanced inline and offline inspection and testing
solutions for its B9 Gen 10.5 fabrication facility in Hefei, Anhui
Province, China. This
order, totaling approximately $61
million, is for systems designed to enable BOE to achieve
high yield, high throughput, mass production of flat panel displays
for very large size televisions, and will be installed during phase
I of the facility ramp-up. The order was received in September 2016.
Delivery of this order is scheduled to commence during the
second half of 2017. Phase I production is expected to reach 90,000
substrates per month with full-scale production of 120,000
substrates per month projected to be achieved in 2019, during phase
II.
As the demand for large LCD TV screens of 55 inches and above is
growing rapidly, BOE's new Gen 10.5 fab is expected to create
efficiencies that will further improve panel quality. At 2,940 x
3,370 mm, Gen 10.5 is the largest LCD substrate currently
available, enabling high efficiency for 43" to 75" screens.
"We are honored to have been selected to provide BOE with our
field-proven Quantum™ AOI and ArrayChecker™ solutions which will
help ensure that BOE's production is optimized for efficiency,
flexibility and cost," said Mr. Gil
Oron, Corporate Vice President and President of Orbotech's
FPD Division. "This transaction represents the largest yield
management deal in Orbotech's history. It builds on more than a
decade of close and successful cooperation with BOE, and harnesses
our proven track record of over 20 years in providing superior
yield enhancement solutions for mass production to the FPD
industry."
About BOE Technology Group Co., Ltd
BOE Technology Group Co., Ltd., founded in April 1993, is a supplier of internet of things
technologies, products and services. BOE's three core businesses
are Display Device, Smart System and Healthcare Service. BOE's
products are widely used in a broad spectrum of applications such
as mobile phone, tablet, notebook, monitor, TV, vehicle display,
digital information display, healthcare, finance, and wearable
devices.
At present, BOE has 7 production lines in operation, including a
Gen 5 TFT-LCD line and a Gen 8.5 TFT-LCD line in Beijing, a Gen 4.5 TFT-LCD line in
Chengdu, a Gen 6 TFT-LCD line and
a Gen 8.5 TFT-LCD line in Hefei, a
Gen 5.5 AMOLED line in Ordos, and a Gen 8.5 TFT-LCD line in
Chongqing. There is another Gen 6
AMOLED line in Chengdu, a Gen 8.5
TFT-LCD line under construction in Fuzhou and the world's highest generation line
Hefei Gen 10.5 TFT-LCD line under construction.
BOE has manufacturing bases located in Beijing, Chongqing, Chengdu of Sichuan
Province, Hefei of
Anhui Province, Ordos of Inner
Mongolia Autonomous Region, Gu'an of Hebei Province, Suzhou of Jiangsu Province and Xiamen of Fujian
Province. BOE also boasts a global marketing and service
network, which covers the world's major areas including
Europe, America and Asia.
About Orbotech Ltd.
Orbotech Ltd. 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. Virtually every electronic
device is produced using Orbotech technology. 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, cyclicality in the industries in
which the Company operates, the Company's production capacity,
timing and occurrence of product acceptance (the Company defines
'orders', 'bookings' and 'backlog' as purchase arrangements with
customers that are based on mutually agreed terms, which, in some
cases for orders, 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, within and among divisions, 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, including as a
result of the so-called 'Brexit' process, 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 as well as automobiles, the Company's global
operations and its ability to comply with varying legal,
regulatory, exchange, tax and customs regimes, the Company's
ability to achieve strategic initiatives, including related to its
acquisition strategy, the Company's debt and corporate financing
activities; the final timing and outcome (each expected during the
first half of 2017), and impact of the criminal matter and ongoing
investigation in Korea, including any 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 the surrounding areas, 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, 2015, 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 COMPANY CONTACTS:
Tally Kaplan Porat
Director of Corporate Marketing
Tel: +972-8-942-3603
Tally-Ka@orbotech.com
Rami Rozen
Director of Investor Relations
Tel: +972-8-942-3582
Investor.relations@orbotech.com
SOURCE ORBOTECH LTD.