YAVNE, Israel, May 8, 2017 /PRNewswire/ -- Orbotech Ltd., a
leading provider of process innovation technologies, solutions and
equipment that are enabling the transformation of the global
electronics manufacturing industry, announced today that Tianma
Micro-electronics Co. Ltd. ("Tianma"), a producer of display
solutions with over three decades of experience in the Flat Panel
Display (FPD) field, has selected Orbotech's ArrayChecker™ and
Automated Optical Inspection (AOI) solutions for its production
line upgrade to flexible AMOLED technology.
Tianma has invested approximately $1.8
billion to extend its Gen 6 AMOLED fab in Wuhan, China. The Wuhan fab is designed for the production of
flexible AMOLED display panels which are rapidly gaining popularity
in consumer electronics devices. When the new line ramps up
to mass production during the second half of 2017, Tianma expects
to achieve capacity of 30,000 panels per month, with an additional
30,000 per month capacity increase in 2018.
According to the IHS Display Long-Term Demand Forecast Tracker
Q4 2016, "AMOLED's share of overall FPD revenue will increase to
almost 30% in 2023. Revenue from AMOLED displays is expected to
grow from $15 billion in 2016 to
$36 billion in 2023 for a CAGR of
17%."
"We are delighted that Tianma has selected our solutions for
their flex AMOLED fabrication line," stated Mr. Edu Meytal,
President of Orbotech Pacific Display. "These solutions,
which were designed to enable the new manufacturing processes
required to produce flex AMOLED displays, will enable our customers
to produce the most advanced FPD products available with high
yields. This deal builds upon past successful implementations
of Orbotech's inspection, testing and repair solutions."
About FPD Automated Optical Inspection (AOI)
Orbotech's FPD AOI systems offer display manufacturers cutting
edge automated inspection solutions for all types of display
technologies including Flexible AMOLED. Orbotech FPD AOI systems
increase production yields using advanced optics for image
acquisition, unique image processing technologies, algorithms and
data processing capabilities, microscopic video imaging, CD/Overlay
measurements and automated macro (Mura) inspection to enable
high-sensitivity defect detection and extremely accurate
classification.
About Orbotech ArrayChecker™
The Orbotech ArrayChecker™ test system determines whether
individual pixels or lines of pixels are functional. It also finds
more subtle process defects such as variations in individual pixel
voltage. Defect data are used for repair and statistical process
control to decrease material costs and improve throughput.
About Tianma Micro-electronics Co.
Tianma Micro-electronics Co. was founded in 1983 and is publicly
traded on the Shenzhen Stock Exchange (SZ.000050) since 1995.
The company specializes in the design, manufacturing, and supply of
high quality LCD and LCM products. Affiliated companies
within the Tianma Group, include Shenzhen Tianma, Shanghai Tianma,
Shanghai AVIC, Chengdu Tianma, and Wuhan Tianma; combined to make
up our state-of-the-art STN-LCD, CSTN-LCD, TFT-LCD, AMOLED, and CF
production lines.
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 (MEMS), LED, high speed RF on
GaAs, power management device and other electronic components.
Today, virtually every electronic device in the world is produced
using Orbotech systems. For more information,
visit www.orbotech.com/ and www.spts.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 '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, 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 'Brexit' process and administration
change in the United States, 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 timing and
outcome of tax audits, including the ongoing audit of tax years
2012-2014 in Israel, 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, 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, and ongoing or increased hostilities in
Israel and the surrounding
areas. In addition, the Company expects to receive an
assessment from the Israel Tax Authority in the coming months with
respect to the ongoing tax audit in Israel, which assessment may be with respect
to a material amount of taxable income and for a material amount of
tax and, while the Company believes that it has provided adequately
for any reasonably foreseeable outcomes related to the tax audit,
future results may include unfavorable material adjustments to
estimated tax liabilities in the period when the assessment is
received or resolved or the audit is closed. The Company is
subject to the foregoing 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, 2016, 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:
Rami Rozen
Director of Investor Relations
Tel: +972-8-942-3582
Investor.relations@orbotech.com
Tally Kaplan Porat
Director of Corporate Marketing
Tel: +972-8-942-3603
Tally-Ka@orbotech.com
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SOURCE ORBOTECH LTD.