Camtek Announces Appointment of Roy Porat as Chief Executive Officer

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Aug 24, 2010, 01:01 ET

MIGDAL HAEMEK, Israel, August 24, 2010 /PRNewswire-FirstCall/ -- Camtek Ltd. (NASDAQ and TASE: CAMT) ("Camtek" or the "Company"), announced today the approval of changes in senior management. Mr. Roy Porat, who has been with the Company since 2001, serving in various positions in the United States and Asia, and for the past two years as General Manager of the Company, is to succeed Mr. Rafi Amit as the Company's Chief Executive Officer.

Mr. Amit will become Active Chairman of the Board of Directors. Mr. Yotam Stern, who has been Chairman of the Board, will step down from this position and will remain a member of the Board.

Mr. Amit, in his new position, will decrease his scope of work for the Company from 100% to 75% of his time. The scope and level of Mr. Amit's responsibilities in his position as Active Chairman shall be set by the Company's Board of Directors but in general will include responsibility over strategic planning, acquisitions and strategic ventures and alliances, as well as overall direction of the Asian activity of the Company.

Mr. Amit commented on Mr. Porat's appointment: "Since joining the Company ten years ago, Roy has accumulated a very extensive knowledge and expertise in all areas of Camtek's business; and, during his various positions in the Company, he has demonstrated a strong vision and leadership that make him ideally suited to the position of Chief Executive Officer. Roy Porat has my unequivocal support, as well as that of the entire Board of Directors, and we wish him and the Company every success in the future."

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.                          IR INTERNATIONAL
    Mira Rosenzweig, CFO                 CCG Investor Relations
    Tel: +972-4-604-8308                 Ehud Helft / Kenny Green
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SOURCE Camtek Ltd