YAVNE, ISRAEL -- Orbotech has restructured into two new corporate units aimed at better recognizing new opportunities and leveraging its existing technology.

The company's Strategy and Business Development unit will focused on capitalizing on growth opportunities in new areas that are complementary to the company’s manufacturing equipment for printed circuit board, flat panel display and other electronic components. This unit will be managed by Richard Klapholz, executive vice president for Strategy and Business Development. Klapholz has been with Orbotech for 15 years, serving in senior management positions, including most recently as executive vice president Electronics Business and prior to that as president of the PCB division.

The company’s research and development activities will be reorganized under its Global Product Organization unit. This unit will focus on developing and implementing short- and long-term R&D strategy and on better positioning Orbotech to pursue new business opportunities. Yovav Sameah has been named to manage the unit, as corporate vice president and chief product officer. He has been with Orbotech for 14 years on the company's AOI side.