MIGDAL HAEMEK, ISRAEL -- Camtek today announced it would reorganize its functional inkjet technology operations, a move that includes ending support for its installed Gryphon systems.

Instead, the firm plans to concentrate on development of a next-generation printer, which the company expects will take approximately 18 months. Camtek will take third-quarter charges of $300,000 to $400,000 related to the decision, which will cut Camtek's overhead to approximately $2.5 million annually from its current $5.5 million.

 Camtek said there are currently four Gryphon systems installed at customer sites,

"Based on feedback we gathered from the four customers that have been evaluating the Gryphon system and in order to increase the addressable market, we have decided that there is a need for a significant redesign of the system, the process and the ink," Camtek chairman and CEO Rafi Amit. "This will enable us to better gear the technology to market requirements. Our contacts with customers and potential customers over the past few years, underscore that there is a huge market opportunity, and we continue to believe that the digital printing technology is superior to the current processes used by the PCB industry, and that it is ultimately the future for this industry. At the same time, we realize that the penetration process and market education will take longer than previously anticipated."

"Our decision to cease supporting our four current Gryphon systems and focus on the development of the next generation of digital printer will allow us, once the development is completed, to return to the market more effectively," Amit said. "Additionally, our FIT team will operate much more efficiently, as their efforts will focus solely on pure R&D activities without the need to support systems at distant customer sites. During this period, we will also continue our efforts to seek a strategic investor and build alliances with leading ink manufacturers."

Register now for PCB West, the Silicon Valley's largest trade show for the printed circuit industry, taking place Sept. 13-15 in Santa Clara: pcbwest.com

• Prev
• Next