Orbotech Lt Solar Receives $10 Million in Orders from Solar Panel Manufacturers

  Orbotech Lt Solar Receives $10 Million in Orders from Solar Panel
  Manufacturers

   -- Thin Film Deposition System to Improve Device Performance and Reduce
                             Production Costs --

Business Wire

YAVNE, Israel -- December 16, 2013

ORBOTECH LTD. (NASDAQ/GSM SYMBOL:ORBK), today announced the receipt of initial
purchase orders totaling approximately $10 million by its subsidiary ORBOTECH
LT SOLAR, LLC (“OLTS”) for its Aurora PECVD^® thin film deposition system from
leading solar panel manufacturers. Deliveries on these orders are expected to
commence in the first half of 2014, and are subject to customary terms and
conditions including product acceptance.

Commenting on this announcement, Dr. Kam Law, Chief Executive Officer of OLTS,
said: “Conditions in the solar energy industry appear to be improving. Major
suppliers are increasing their production levels and stepping up their capital
spending, making this a particularly opportune time to introduce our new
deposition tool, the Aurora PECVD^®. This product incorporates a highly
innovative system design and superior process flexibility, enabling the
deposition of multiple high quality films with remarkably low power
consumption, and will support our customers in manufacturing high efficiency
solar devices at significantly reduced running costs.”

Asher Levy, Chief Executive Officer of Orbotech Ltd., added: “These orders for
the Aurora PECVD^®, which are expected to culminate in the first recognition
of revenue for OLTS, demonstrate the substantial added value which we believe
OLTS will be able to provide to major industry suppliers. We also believe
these orders mark the beginning of a major additional area of potential
business for the Company and that this highly innovative technology will open
up further opportunities for the Company in the solar energy industry.”

About OLTS

OLT Solar, located in the heart of Silicon Valley, has brought to market a new
PECVD deposition system for the crystalline silicon solar cell manufacturing.
By combining a novel concept and efficient design in its initial product, the
Aurora PECVD^®, with Orbotech’s global infrastructure, OLT Solar is uniquely
positioned to support the growth and success of the solar renewable energy
industry. For more information please visit www.oltsolar.com.

About Orbotech Ltd.

Orbotech Ltd. (NASDAQ/GSM:ORBK) has been at the cutting edge of the
electronics industry supply chain, as an innovator of enabling technologies
used in the manufacture of the world’s most sophisticated consumer and
industrial products, for over 30 years. The Company is a leading provider of
yield-enhancing and production solutions, primarily for manufacturers of
printed circuit boards, flat panel displays and other electronic components.
Today, virtually every electronic device is produced using Orbotech
technology. The Company also applies its core expertise and resources in other
advanced technology areas, including character recognition for check and forms
processing and solar photovoltaic manufacturing. Headquartered in Israel and
operating from multiple locations internationally, Orbotech’s highly talented
and inter-disciplinary professionals design, manufacture, sell and service the
Company’s end-to-end portfolio of solutions for the benefit of customers the
world over. For more information please see the Company’s filings with the
U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov. and visit
the Company’s corporate website at www.orbotech.com. The corporate website is
not incorporated herein by reference and is included as an inactive textual
reference only.

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
its 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, the timing, terms and success of any strategic
transaction, the final outcome and impact of the criminal matter and ongoing
investigation in Korea, 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, cyclicality in the industries in which the Company operates,
the Company’s production capacity, timing and occurrence of product
acceptance, 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 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 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, 2012, 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.

Contact:

Orbotech Ltd.
Adrian Auman, +972-8-942-3560
Corporate Vice President Investor Relations and Special Projects
or
Orbotech, Inc.
Michelle Harnish, +1-603-289-7937
Marketing Communications Manager
 
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