GE Amends Complaint in Dispute with Orbotech Ltd.
2009年6月29日 - 8:31PM
ビジネスワイヤ(英語)
ORBOTECH LTD. (NASDAQ/GSM SYMBOL: ORBK) today announced that on
June 18, 2009, GE Healthcare, which describes itself as a unit of
General Electric Company, amended its complaint against Orbotech
Ltd. (the �Company�), originally filed on November 4, 2008,
in the United States District Court for the Eastern District of
Wisconsin. The amended complaint expands the U.S. litigation to
include certain of the breach of contract claims at issue in the
dispute requested to be referred to arbitration in Israel and
requests compensatory, consequential, exemplary and punitive
damages in an unspecified amount. The dispute relates, among other
things, to a claim for damages related to an assertion that
Orbotech Medical Solutions Ltd. (�OMS�) was obligated to
supply GE Medical Systems Israel Ltd. (�GEMSI�) with CZT
modules at a specific price per module pursuant to the terms of an
agreement between the Company and GEMSI from December 2004 (such
agreement was assigned to OMS and expired in December 2007) and a
claim that OMS had an obligation to supply GEMSI with 850 CZT
modules by specific dates. The Company continues to believe it has
good arguments to dismiss the amended complaint as well as good
arguments on the merits should the court determine it will hear the
case and intends to defend the matter vigorously. For more
information about this matter and the related arbitration matter in
Israel, see the Company�s Annual Report on Form 20-F for the year
ended December 31, 2008, filed with the United States Securities
and Exchange Commission.
About Orbotech
Ltd.
Orbotech is principally engaged in the design, development,
manufacture, marketing and service of yield-enhancing and
production solutions for specialized applications in the supply
chain of the electronics industry. Orbotech�s products include
automated optical inspection (AOI), production and process control
systems for printed circuit boards (PCBs) and AOI, test and repair
systems for flat panel displays (FPDs). The Company also markets
computer-aided manufacturing and engineering (CAM) solutions for
PCB production. In addition, through its subsidiary, Orbograph
Ltd., the Company develops and markets character recognition
solutions to banks and other financial institutions, and has
developed a proprietary technology for web-based,
location-independent data entry for check processing and forms
processing; and, through its subsidiaries, Orbotech Medical Denmark
A/S and Orbotech Medical Solutions Ltd., is engaged in the research
and development, manufacture and sale of specialized products for
application in medical nuclear imaging. Of Orbotech�s employees,
more than one quarter are scientists and engineers, who integrate
their multi-disciplinary knowledge, talents and skills to develop
and provide sophisticated solutions and technologies designed to
meet customers� long-term needs. Orbotech maintains its
headquarters and its primary research, development and
manufacturing facilities in Israel, and more than 30 offices
worldwide. Orbotech�s extensive network of marketing, sales and
customer support teams throughout North America, Europe, the
Pacific Rim, China and Japan deliver its knowledge and expertise
directly to customers the world over. For more information visit
www.orbotech.com.
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 cyclicality in the industries in which
the Company operates, a sustained continuation or worsening of the
worldwide economic slowdown, 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 and other risks detailed in the
Company�s SEC reports, including the Company�s Annual Report on
Form 20-F. 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.
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