Orbotech seek new Growth Opportunities
14 July, 2013
Orbotech from Yavne, Israel, has announced the creation of two new corporate units: “Strategy and Business Development” and “Global Product Organization”. These changes will become effective on September 1, 2013
Orbotech from Yavne, Israel, has announced the creation of two new corporate units: “Strategy and Business Development” and “Global Product Organization”. These changes will become effective on September 1, 2013.
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 the production of PCBs, FPDs and other electronic components. This is intended to leverage Orbotech’s core technologies to expand into new growth areas. The unit will be managed by Mr. Richard Klapholz. He will have overall responsibility for the Company’s business development activities and for its strategic plan. Mr. Klapholz has been with Orbotech for 15 years, serving in senior management positions, including most recently as Executive Vice President Electronics Business.
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 of pursuing new business opportunities. The unit will be managed by Mr. Yovav Sameah who will assume the position of Corporate Vice President and Chief Product Officer. Mr. Sameah has been with Orbotech for 14 years, serving most recently as Vice President for the Electronic Component Manufacturing Business.
Orbotech Ltd. (NASDAQ/GSM: ORBK) provides of yield-enhancing and production solutions for manufacturers of printed circuit boards, flat panel displays and other electronic components. Revenues for the year ended December 31, 2012 totaled $400.7 million, compared to $565.3 million in 2011. GAAP net loss for the year endedDecember 31, 2012 was $45.6 million, or $1.05 per share, compared to a GAAP net income of $47.3 million, or $1.16 per share (diluted), in 2011.