YAVNE, Israel, Aug. 28, 2017 /PRNewswire/ --
Orbotech Ltd., (NASDAQ: ORBK) a leading global supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products, today announced a multi-million-dollar agreement with Unimicron Germany GmbH (formerly RUWEL International) for the purchase of Orbotech's direct imaging (DI), automated optical inspection (AOI) and automated optical shaping (AOS) PCB production solutions. Unimicron Germany is in the process of rebuilding its inner layer fab as a fully automated Industry 4.0, state-of-the-art facility, and upgrading its Outerlayer and Solder Mask capacity and capabilities.
Unimicron Germany GmbH specializes in high-end, high-reliability manufacturing for automotive electronics, renewable energy and industrial markets. The site is expected to be fully functional in the first half of 2018.
Among the Orbotech solutions Unimicron Germany has ordered are the latest members of the Nuvogo™ family for direct imaging; Orbotech Diamond™ 8 for high throughput solder mask direct imaging; Fusion™ 22 AOI with 2D metrology in process quality control (IPQC); Precise™ 800 AOS system for 3D shaping of any layer HDI and complex multi-layer boards; and Orbotech Smart Factory for Industry 4.0-compliant, integrated PCB production.
"Following the fire which devastated our facility last year, we have a unique opportunity to rebuild and improve on our past successes," said Mr. Gerard van Dierendonck, CEO of Unimicron Germany. "We are committed to making the facility more environmentally and energy friendly, as well as ensuring the highest level of flexibility with the lowest total cost of ownership. We selected Orbotech's solutions because they enable us to achieve our goals and are the best fit for our customers' present and anticipated production and technology needs."
"We are delighted to be able to provide a wide range of PCB production solutions as part of Unimicron Germany's rebuilding project and to further deepen our relationship," stated Mr. Sharon Cohen, President of Orbotech West. "Our Industry 4.0-compliant solutions meet Unimicron's specific advanced technology and reliability needs and enable and ensures traceability, which is critical for automotive and other high-reliability PCB applications. In addition, our comprehensive customer service offering, with our one-stop monitoring center, is designed to provide pro-active, preventative measures which can troubleshoot any potential issues, such as downtime, before they even occur."
"Orbotech's solutions are a perfect fit for our strategy moving forward and our aim of building the most modern inner layer factory possible," said Mr. Rico Schlüter, CTO of Unimicron Germany. "As the European PCB industry continues to make significant changes, we are determined to invest in state-of-the-art equipment that will grow with us."
About Unimicron Germany GmbH
Unimicron Germany (formerly known as RUWEL International GmbH) is part of the Unimicron Technology Corporation, and is one of the most important producers of circuit boards in Europe. Unimicron Germany has production capacity in both Europe and Asia managed by one team of highly dedicated professionals based in Germany. Unimicron Germany's maxim is to be a technology trendsetter with innovations to set the pace for technical progress. The company aims to help clients to optimize their PCB designs, provide rapid prototyping and sample production and place particular focus on producing small to medium volumes of highly complex PCBs. By continuously transferring process know-how and technology within the High Reliability Business Unit (HRBU), high volume clients are served equally well, while getting great value from the lower cost base in Asia. For more information, visit http://www.unimicron-germany.de.
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.
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 (see below), 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, in May 2017 the Company received a $58 million assessment from the Israel Tax Authority with respect to the ongoing tax audit in Israel. The Company believes that it has provided adequately for any reasonably foreseeable outcomes related to the tax audit; however, future results may include unfavorable material adjustments to estimated tax liabilities in the period when the assessment is resolved or the audit is closed. In addition, the Israel Tax Authority is investigating the Company's tax positions. Given that the process is in its preliminary stages, the Company cannot assure the outcome or timing of completion of the assessment process or investigation, including the amount of tax ultimately payable, and additional penalties, criminal sanctions, fines and other amounts that may be imposed as a result of the assessment and investigation, which may be material in amount or in adverse impact on the Company's results of operations, financial position and reputation. The outcome may also impact the Company's results of operations as a result of tax positions taken for subsequent fiscal years. Furthermore, during the second quarter of 2017, the Company elected to implement certain provisions of the Israeli Law for the Encouragement of Capital Investments related to preferred enterprises in Israel. Although the Company is unable to predict the precise impact of this tax election, it believes the tax election will be beneficial over the long term and it does not expect that the tax election will result in a material increase in its effective tax rate for 2017. The foregoing information should be read in connection with the Company's Annual Report on Form 20-F for the year ended December 31, 2016, 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:
Director of Investor Relations
Tally Kaplan Porat
Director of Corporate Marketing
SOURCE Orbotech Ltd.