Orbotech wins $55m Chinese order

Orbotech will provide equipment for Nanjing CEC Panda's fab.

Flat panel display solutions company Orbotech Ltd. (Nasdaq: ORBK) announced today that TFT LCD panel maker Nanjing CEC Panda LCD Technology Co., Ltd. (a China Electronics Corp. company) has selected Orbotech as the inspection, testing and repair equipment vendor for its new Gen 8.5 fab in Nanjing, China. During the first and second quarters of 2014, Nanjing CEC Panda placed orders for $55 million for Orbotechs systems. Installation will start in the fourth quarter of 2014 and to continue through the first half of 2015.

Nanjing CEC Panda has selected Orbotech as its vendor-of-choice and has opted for three of Orbotechs most innovative products in AOI, test and repair, said Orbotech FPD Division President Gil Oron. Through intense development, these powerful new products have been optimized to support the future requirements of this rapidly evolving industry and should vastly improve yield while reducing cost-of-ownership.

Published by Globes [online], Israel business news - www.globes-online.com - on July 24, 2014

Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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