YAVNE, Israel, May 16, 2018 /PRNewswire/ -- Orbotech Ltd.,
(NASDAQ: ORBK) a leading global supplier of yield-enhancing and
process-enabling solutions for the manufacture of electronics
products, and A*STAR's Institute of Microelectronics (IME),
announced a joint lab agreement confirming Orbotech as a partner in
IME's FOWLP joint lab and as a member of the IME FOWLP development
line consortium.
Orbotech's Emerald™ UV Laser Drilling solution is one of the key
processes available in the FOWLP joint lab development line. The
Emerald delivers advanced UV drilling performance for today's most
challenging IC substrate and assembly applications, including 3D
packages, stacking and package on package.
The FOWLP development line at IME's facilities at Singapore
Science Park II, and its new facilities at Fusionopolis Two, will
allow IME and its partners to develop technologies that will serve
a wide range of markets including consumer electronics, healthcare
and automotive.
"Orbotech is honored to be part of IME's FOWLP development joint
lab and FOWLP development line consortium," said Dr. Abraham Gross, Corporate Executive Vice
President, Chief Technology Officer and Head of Innovation of
Orbotech. "This collaboration builds on the long-term relationship
that IME has with Orbotech's SPTS Technologies, a leading supplier
of advanced packaging solutions. We are always pleased to
cooperate with technology and process innovation initiatives that
push the electronics packaging industry forward and enable
solutions for complex challenges. The Emerald UV Laser Drilling
system is just one of the building blocks that we, at Orbotech,
provide to enhance the quality and efficiency of the production
process for 3D IC and other complex high density packaging
structures."
About Orbotech Ltd.
Orbotech Ltd. is a leading global
supplier of yield-enhancing and process-enabling solutions for the
manufacture of electronics products. Orbotech provides cutting-edge
solutions for use in the manufacture of printed circuit boards
(PCBs), flat panel displays (FPDs), and semiconductor devices
(SDs), designed to enable the production of innovative,
next-generation electronic products and improve the cost
effectiveness of existing and future electronics production
processes. Orbotech's core business lies in enabling electronic
device manufacturers to inspect and understand PCBs and FPDs and to
verify their quality ('reading'); pattern the desired electronic
circuitry on the relevant substrate and perform three-dimensional
shaping of metalized circuits on multiple surfaces ('writing'); and
utilize advanced vacuum deposition and etching processes in SD and
semiconductor manufacturing ('connecting'). Orbotech refers to this
'reading', 'writing' and 'connecting' as enabling the 'Language of
Electronics'. For more information, visit
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, the previously
announced acquisition of Orbotech by KLA, the manner in which the
parties plan to effect the transaction, including the share
repurchase program, the ability to raise additional capital
necessary to complete the repurchase program within the time frame
expected, the expected benefits, synergies and costs of the
transaction, management plans relating to the transaction,
including with respect to the Company's ownership interest in
Frontline, the expected timing of the completion of the
transaction, the parties' ability to complete the transaction
considering the various closing conditions, including conditions
related to regulatory and Orbotech shareholder approvals, the
plans, strategies and objectives of management for future
operations, product development, product extensions, product
integration, complementary product offerings and growth
opportunities in certain business areas, the potential future
financial impact of the transaction, and any assumptions underlying
any of the foregoing. Actual results may differ materially from
those referred to in the forward-looking statements due to a number
of important factors, including but not limited to the possibility
that expected benefits of the transaction may not materialize as
expected, that the transaction may not be timely completed, if at
all, that KLA-Tencor may not be able to successfully integrate the
solutions and employees of the two companies or ensure the
continued performance or growth of Orbotech's products or
solutions, the risk that the Company may not achieve its revenue
expectations within and for 2018 (including, without limitation,
due to shifting move-in dates); cyclicality in the industries in
which the Company operates, the Company's supply chain management
and production capacity, order cancelation (often without penalty),
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
United Kingdom's prospective
withdrawal from the European Union (known as "Brexit") and
political uncertainty 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 smart mobile
devices, automotive electronics, flexible applications and devices,
augmented reality/virtual reality and wearable devices,
high-performance computing, liquid crystal display and organic
light emitting diode screens and other sophisticated devices, 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 best judgment tax
assessment issued by the Israel Tax Authority with respect to the
audit of tax years 2012-2014 in Israel and the related criminal investigation,
the Company's ability to achieve strategic initiatives, including
related to its acquisition strategy, the Company's debt and
corporate financing activities; the timing, final 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.
The foregoing information should be read in connection with the
Company's Annual Report on Form 20-F for the year ended
December 31, 2017, and subsequent SEC
filings. The Company is subject to the foregoing and other risks
detailed in those reports. 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
VP 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.