CAMTEK REPORTS ADDITIONAL COST REDUCTION MEASURES
February 17, 2009
MIGDAL HA’EMEK, Israel, February 17, 2009 – Camtek Ltd. (Nasdaq: CAMT; TASE: CAMT) announced today that it is implementing additional reduction of its global work force by 68 employees. This reduction represents about 14% of the Company’s current
total workforce of 480.
"We believe that the continuing severe global slowdown requires us to be more conservative and monitor our business expenses and cash resources”, said Rafi Amit, Camtek’s CEO. “While implementing this reduction plan, we remained focused on preserving our R&D capabilities in order to position ourselves for the future recovery of our markets.”
ABOUT CAMTEK LTD.
With headquarters in Migdal Ha’Emek Israel, Camtek Ltd., designs, develops, manufactures, and markets automatic optical
inspection systems and related products. Camtek’s automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry. This press release is available at www.camtek.co.il.
This press release may contain projections or other forward-looking [state]ments regarding future events or the future
performance of the Company. These [state]ments 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.
Mira Rosenzweig, CFO
Ehud Helft/Kenny Green
GK Investor Relations
Tel: (US) 1 646 201 9246 firstname.lastname@example.org