Leading Japanese Electronics Manufacturer Orders Orbotech Direct Imaging Solutions Totaling $5 Million

YAVNE, Israel, March 14, 2017 /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 a major Japanese electronics manufacturer with worldwide facilities, placed a $5 million order of multiple direct imaging (DI) solutions for solder mask and other solutions.  The Orbotech solutions were adapted to meet the customer's specific manufacturing requirements for smart mobile devices.

Following extensive testing in late 2016 and strong collaboration between Orbotech and its customer, Orbotech received an order for multiple direct imaging solutions to address the technological challenges involved in manufacturing next generation smart mobile devices. Orbotech installed the Paragon™ Ultra delivering superior imaging accuracy and yields for the industry's most complex IC substrates. In addition, the Nuvogo 1000R, Orbotech's large-format DI solution, was also installed enabling consistent high-quality DI for both patterning and solder mask at unmatched speed and yield.

"Our customer had specific demands regarding production standards and specifications that presented unique challenges," stated Mr. Yair Alcobi, President of Orbotech Asia East. "In addition to our systems' high throughput and extreme accuracy, Orbotech succeeded in customizing features to satisfy the specific requirements of a number of advanced applications."

About Paragon™ Ultra
Featuring the leading-edge performance of Orbotech's Large Scan Optics (LSO) Technology™, Paragon™ Ultra Laser Direct Imaging (LDI) systems deliver the highest imaging accuracy and yields for today's most complex IC substrate applications including Flip-Chip BGA, Flip-Chip CSP, BGA/CSP and modules manufacturing. The Paragon™ Ultra line provides fast throughput using enhanced electronics and a powerful laser system and provides exceptional results on both conventional UV and LDI resists.

About Nuvogo 1000R
Nuvogo™ 1000R is a member of the Orbotech Nuvogo™ family of industry-leading Direct Imaging (DI) solutions. Utilizing a high-power laser and unique MultiWave Laser Technology™, the Nuvogo™ 1000R provides maximum flexibility on a wide range of materials and applications. Incorporating Orbotech's field-proven Large Scan Optics (LSO) Technology™ with its high depth-of-focus, the Nuvogo™ 1000R is a perfect match for flex patterning and solder mask applications that demand fine structures on variating topography. This powerful system is designed for fast throughput while maintaining optimal quality.

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

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 in Israel (the amount of taxable income is subject to ongoing audit by the Israel tax authority and such audits often result in proposed assessments and any estimation of the potential outcome of an uncertain tax issue is a matter for judgment, which can be subjective and highly complex; however, the Company believes that it has provided adequately for any reasonably foreseeable outcomes related to the tax audit, but future results may include favorable or unfavorable material adjustments to estimated tax liabilities in the periods when the assessments are made or resolved or the audit is closed), 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 the 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, 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.

SOURCE ORBOTECH LTD.

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