Orbotech creates new business units

The new Strategy and Business Development unit will be focused towards capitalizing on growth opportunities in new areas that are complementary to the Company’s strength in digital production and yield-enhancing solutions for manufacturers of PCBs, FPDs and other electronic components. This unit, which will be managed by Mr. Richard Klapholz, Executive Vice President for Strategy and Business Development, will have overall responsibility for the Company’s business development activities and for its strategic plan. The Company’s research and development activities will be reorganized under the umbrella of the Global Product Organization unit. This unit will focus on developing and implementing the Company’s short and long term research and development strategy and on better positioning Orbotech to pursue new business opportunities. This unit will be managed by Mr. Yovav Sameah who will assume the position of Corporate Vice President and Chief Product Officer. Commenting on these organizational changes, which will become effective on September 1, 2013, Mr. Asher Levy, Chief Executive Officer at Orbotech, said: “These organizational changes are designed to establish growth as a top priority in the years to come. They will further leverage our core assets throughout the Company, enhance our agility and provide accelerated time-to-market capabilities, which will be needed to capitalize on the many emerging high growth areas in the electronics industry and adjacent sectors. We expect this to translate into new business for Orbotech in 2014 and beyond.” Mr. Levy added: “Orbotech will continue to provide innovative solutions through research and development throughout various economic cycles, anticipate technological trends and invest in preserving its technological leadership.”