YAVNE, ISRAEL | ORBOTECH LTD. (NASDAQ: ORBK) today announced that SPTS Technologies, an Orbotech company and supplier of advanced wafer processing solutions for the global semiconductor and related industries, was presented with a Supplier Excellence Award in the ‘Special Achievement’ category at the Analog Devices (NASDAQ: ADI) annual award ceremony held in Hong Kong.
The ADI Supplier Excellence Award goes to suppliers that play a key role in ADI’s successes and collaborate with it on development and improvement of products and manufacturing processes. Winners were required to demonstrate exceptional commitment to excellence in manufacturing, leadership in maintaining quality standards and reliability specifications and on-time delivery of goods and services.
“Our strategic suppliers are vital to ADI’s mission to deliver high-performance analog, mixed-signal, and digital signal processing integrated circuits used in virtually all types of electronic equipment,” said Vince Simonelli, Director of Global Purchasing, Analog Devices. “SPTS was selected for the Special Achievement Award because it consistently demonstrated innovation, responsiveness and exceptional commitment to bringing our new chemical vapor deposition process capability online as specified and on time.”
Kevin Crofton, President of SPTS Technologies and Corporate VP at Orbotech, commented, “We are proud to be recognized as a strategic supplier and partner to ADI, and honored to receive this Special Achievement Award, which underscores the technical excellence of our solutions and the outstanding performance of our support teams across the entire organization.”
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 in the world is produced using Orbotech systems. For more information, visit http://www.orbotech.com/.
About SPTS Technologies
SPTS Technologies, an Orbotech company, designs, manufactures, sells, and supports etch, PVD, CVD and thermal wafer processing solutions for the MEMS, advanced packaging, LEDs, high speed RF on GaAs, and power management device markets. With manufacturing facilities in Newport, Wales, Allentown, Pennsylvania, and San Jose, California, the company operates across 19 countries in Europe, North America and Asia-Pacific. For more information about SPTS Technologies, please visit 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, timing and extent of achieving the anticipated benefits of the acquisition of SPTS; 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' 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, 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, 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, 2014, 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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