YAVNE, Israel, April 12, 2018 /PRNewswire/ --
ORBOTECH LTD. (NASDAQ: ORBK) today announced that SPTS
Technologies, an Orbotech company and a supplier of advanced wafer
processing solutions for the global semiconductor and related
industries, has been awarded 'Supplier of the Year - Customized
Frontend Equipment' at the Infineon Supplier Day held in
Singapore. The prestigious award
was given to SPTS for its outstanding support and the performance
of its plasma etch and physical vapor deposition (PVD)
equipment.
Infineon's global operational and management teams rated and
ranked suppliers against stringent criteria, and SPTS was selected
for excellent support of Infineon's Power and MEMS business with
its etch and deposition solutions. The award was presented to
Kevin Crofton, Corporate Executive
Vice President at Orbotech and President of SPTS Technologies, by
Pantelis Haidas, Senior Vice President Operations, and Achim
Janker, Senior Director - Head of Purchasing Frontend. SPTS was
specifically recognized for being an excellent long term and
reliable partner to Infineon, highlighting the important
collaborative development of special process and hardware solutions
to meet Infineon's current and future needs.
Kevin Crofton commented, "We are
very proud to be a valued partner to Infineon and extremely honored
to have earned this prestigious award. We continually strive to
achieve a high level of customer satisfaction, and receiving this
third Supplier Excellence Award is a real testament of the quality
and performance of our engineering, operations and support teams
across the company. As a long time trusted partner of Infineon's
Power and MEMS businesses, we look forward to many more years of
innovating together and helping to drive mutual success."
Infineon Technologies is the global market leader in power
semiconductors, retaining the top spot for both discrete power
semiconductors and power modules, according to a
study[1] carried out by IHS Inc, a business
information provider. SPTS Technologies is a preferred supplier and
partner to Infineon, and provides etch, deposition and thermal
wafer processing equipment to Infineon's Villach, Dresden,
Regensburg and Kulim fabs.
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 http://www.orbotech.com and http://www.spts.com.
[1] Annual Power Semiconductor Market Share
Report 2017, IHS (August 2017)
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 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, 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 foregoing
matters and 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 and margin 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
SOURCE ORBOTECH LTD.