Wednesday December 9, 7:05 am Eastern Time
Company Press Release
ORBOTECH Makes Announcement
YAVNE, Israel--(BUSINESS WIRE)--Dec. 9, 1998--ORBOTECH LTD. (NASDAQ/NM SYMBOL: ORBKF - news)
today confirmed that it has reached a preliminary understanding with Japan Energy Corporation with respect to the purchase of all of Japan Energy's shares of KLA
Acrotec Co. Ltd., a Japanese company engaged in the design, development, manufacture and marketing of automated optical inspection (''AOI'') systems for use in
the production of flat panel displays (''FPD''s). Final agreement is dependent, inter alia, on approval by Orbotech's Board of Directors and reaching an agreement
with the remaining shareholder with respect to the purchase of its shares of KLA Acrotec Co. Ltd. and certain other matters, which are currently being negotiated.
The acquisition, should it be consummated, is anticipated to strengthen Orbotech's presence in the FPD industry, and to enable optimum deployment of the
combined research and development resources of Orbotech and KLA Acrotec Co. Ltd., as well as the focussing of their respective management attention, towards
development of the increasingly sophisticated FPD AOI systems required to meet the ongoing challenges presented by the inspection requirements of the FPD
industry.
Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties and
there can be no assurance that an agreement with respect to the above will be signed or that the transactions will be consummated.
ORBOTECH LTD. (NASDAQ: ORBKF - news) is the world leader in the design, development, manufacture and marketing of AOI systems for use in the
manufacture of printed circuit boards (''PCB''s), and is a leading manufacturer of computer-aided manufacturing (''CAM'') systems and laser plotters for PCB
production. In addition, the Company is a leading manufacturer of AOI systems for use in the production of FPDs and for use in the electronics assembly industry,
and is applying its proprietary technologies to other applications both within and outside the electronics industry. |
