Orbotech Establishes an Advisory Board

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Printer-friendly versionPrinter-friendly versionYAVNE, ISRAEL -- November 6, 2014 -- Orbotech Ltd. (NASDAQ: ORBK) today announced the recent establishment of an Advisory Board, comprised of leading experts and strategic thinkers from throughout the electronics industry and related fields. The Advisory Board will provide practical guidance, insights and validation regarding the strategic plans and business development priorities of the Company. “We are honored to welcome this prestigious group of industry professionals as inaugural members of our Advisory Board”, stated Mr. Asher Levy, Chief Executive Officer of Orbotech Ltd. He added: “The Advisory Board will serve as a key pillar in supporting Orbotech’s strategic planning; and the members’ highly impressive collective knowledge and experience will be invaluable in assisting us to gain a deeper, multi-faceted understanding of the unique opportunities and challenges of the electronics industry value chain and in determining how best to leverage Orbotech’s global capabilities to address these for continued success.” As one of the foremost innovators of enabling technologies used in the manufacture of the world’s most sophisticated consumer and industrial products, Orbotech is intently focused on further strengthening its leadership position as the industry’s most sought-after provider of essential micro manufacturing solutions for electronics reading, writing and connecting. Bringing external perspectives to complement Orbotech’s own vision and views on its environment and key issues, the Advisory Board will help to facilitate the Company’s next stage of growth following its recent major acquisition of SPTS Technologies Group Ltd. Orbotech’s Advisory Board members: · Dr. Alain Harrus - CEO of Kateeva; former CTO of Novellus Systems and Partner at Crosslink Capital · Dr. Choon Heung Lee - Executive Vice President and Chief Technology Officer of Amkor Technology · Dr. Davor Sutija - CEO of Thin Film Electronics ASA · Dr. Irving Wladawsky-Berger - Executive Emeritus, IBM and presently affiliated with MIT · Mr. Jean-Christophe Eloy - CEO of Yole Développement · Dr. Peter R. Hanley - FormerPresident of Novellus Systems · Prof. Rao R. Tummala - Director, 3D Systems Packaging Research Center, Georgia Institute of Technology · Prof. Ryoichi Ishihara - Associate Professor, Delft University of Technology 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 and other electronic components. Today, virtually every electronic device is produced using Orbotech technology. 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 (which includes the Semi IC and Systems business) 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, timing and extent of achieving the anticipated benefits of the acquisition of SPTS, the timing and impact of conversion of SPTS’s financial statements from U.K. GAAP to U.S. GAAP and the Company’s ability to convert SPTS to a U.S. GAAP reporting regime, including its internal control over financial reporting; Orbotech’s ability to effectively integrate and operate SPTS’s business, the timing, terms and success of any strategic or other transaction, cyclicality in the industries in which the Company operates, the Company’s production capacity, timing and occurrence of product acceptance (the Company defines ‘bookings’ as purchase arrangements with customers that are based on mutually agreed terms which, in some cases, 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, 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 each of its competitors, changes in business or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate 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, the timing for a verdict in the ongoing appeal of the criminal matter and ongoing investigation in Korea (which may be in 2014 or early 2015), the final outcome and impact of this matter, including its 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 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, 2013, 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.
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