Camtek and Orbotech Reach Agreement to Dismiss Lawsuits Between Them

News provided by

Jun 01, 2011, 04:48 ET

MIGDAL HAEMEK, Israel, June 1, 2011 /PRNewswire-FirstCall/ -- Camtek Ltd. (NASDAQ and TASE: CAMT) ("Camtek" or the "Company"), today announced that on May 31, 2011 Camtek and Orbotech Ltd. (NASDAQ: ORBK), together with the other third parties involved, signed an agreement for the dismissal of all three lawsuits between them at the Israeli Jerusalem, Nazareth and Tel Aviv courts.

Camtek and Orbotech Ltd. will now turn to seek courts' approval for the dismissals, so that all three lawsuits will be finally dismissed. Each of the parties will bear their own costs in connection with the lawsuits they filed.

Mr. Roy Porat, Camtek's CEO, commented, "I am pleased that we have finally laid to rest the pending legal law suits between us and Orbotech, which now removes a distraction for management and eliminates related costs. "

ABOUT CAMTEK LTD.

Camtek Ltd provides automated solutions dedicated for enhancing production processes and yield, enabling our customers new technologies in two industries; Semiconductors, Printed Circuit Board (PCB) & IC Substrates.

Camtek addresses the specific needs of these industries with dedicated solutions based on a wide and advanced platform of technologies including intelligent imaging, image processing, ion milling and digital material deposition. Camtek's solutions range from micro-to-nano by applying its technologies to the industry-specific requirements.

This press release is available at http://www.camtek.co.il.

This press release may contain projections or other forward-looking statements regarding future events or the future performance of the Company. These statements are only predictions and may change as time passes. We do not assume any obligation to update that information. Actual events or results may differ materially from those projected, including as a result of changing industry and market trends, reduced demand for our products, the timely development of our new products and their adoption by the market, increased competition in the industry, price reductions as well as due to risks identified in the documents filed by the Company with the SEC.

    CAMTEK LTD.
    Mira Rosenzweig, CFO
    Tel:    +972-4-604-8308
    Mobile: +972-54-9050703
    [email protected]

    IR INTERNATIONAL
    CCG Investor Relations
    Ehud Helft / Kenny Green
    Tel: (US) +1-646-201-9246
    [email protected]

SOURCE Camtek Ltd