Israeli company Orbotech Ltd. (Nasdaq: ORBK), led by CEO Asher Levy, is expanding its business in printed circuits for the auto industry. The company today reported an agreement with German company Unimicron in which the Israeli company will supply Unimicron, which is currently both building a new plant and upgrading its existing plant, with imaging, scanning, and testing systems for printed circuits. The deal is estimated at $10 million. Unimicron's new plant is designed to replace a plant severely damaged by fire last year.
The new plant, which will produce electronic systems for the auto and renewable energy industries, is scheduled to begin operating in the first half of 2018.
Strong quarter for Orbotech
Orbotech, which develops technologies for use in the production processes of advanced electronics products (printed circuits, flat screens, and semiconductors), early this month reported strong results for the second quarter and the first half of the year. Orbotech's share price has climbed 30% over the past year, boosting the company's market cap to $1.8 billion. Orbotech reported another deal early this month for flat screen optical testing systems in China, in which CEC Panda selected Orbotech's systems for its new production facility. The estimated $40 million deal is for the first stage. Orbotech also reported flat screen deals last December and last May with an aggregate value of $85 million.
Published by Globes [online], Israel Business News - www.globes-online.com - on August 28, 2017
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