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SMT & Inspection | November 18, 2008

Orbotech negotiates sale of electronics assembly business to Fin.Pro S.p.A

Orbotech has clarified yesterday's press release and offers additional information about the company's decision concerning its electronics assembly business activities. Orbotech is actively engaged in negotiations with the Italian holding company Fin.Pro S.p.A, for the sale of its European and American electronics assembly business.
Expanding on the information provided in Orbotech’s third quarter 2008 results press release today, Rani Cohen, Chief Executive Officer of Orbotech Ltd., explained: “Our decision to divest our activities in the assembled PCB market is part of the series of steps that we are taking to re-focus our strategic plan and align ourselves properly to address current economic conditions, while also preparing for future growth. We hope that a successful agreement can be reached for the sale of this business so as to minimize disruption to our existing client base, while providing a clear path for our customers to continue to receive best-in-class solutions and professional service in the future.”

Orbotech is actively engaged in negotiations with the Italian holding company Fin.Pro S.p.A, for the sale of its European and American electronics assembly business, which will include R&D, manufacturing, sales and service of the Company’s automated optical inspection (AOI) and related process control solutions. Fin.Pro S.p.A is the parent company of Prodelec S.p.A. Prodelectronic,s.a.r.l, Neutec Electronic A.G and Prodelec North Africa. a long-time business partners of Orbotech in the printed circuit board market in Europe.

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