In 2015 the company reduced adjusted debt/EBITDA to around 2.1x from around 3.5x on a 2014 pro-forma basis, assuming a full year's contribution from SPTS
. The company currently expects revenues in 2016 to grow across all three divisions and for there to be a slight improvement in gross margins (reported gross margin in 2015: 45%).
The transaction includes sale of all thermal product lines and virtually all worldwide assets of SPTS
's Thermal Product business, and will involve approximately fifty SPTS
employees worldwide, who are currently engaged in the Thermal Products business, becoming employees of SPT
The (P)B1 rating of Orbotech reflects the leading market positions in its niche markets of providing manufacturing solutions for Printed Circuits Boards, for Flat Panel Displays as well as the additional diversification provided by SPTS
, equipment manufacturer for markets such as the micro-electro-mechanical systems and advanced packaging.
Manufactured at SPTS
' Thermal Products Division in San Jose, Calif., the AVP furnace is used for a diverse range of diffusion and low-pressure chemical vapor deposition (LPCVD) applications in the semiconductor, power management, MEMS and compound semiconductor markets.
Attleborough Libs: G Simmons, P Rushton, R Doherty, T Power, J Harper, P Griffiths (Abbey Social); Dave Olner, W Petty, B Kean, J Pritchard (Bed Exs); K Stephenson, J Russell (Bentley Road); D Harris, A Williams, M Day, D Gibbs, T Blurton, M Waters (Bermuda); R Stringer, S Lawrence, B Stringer, G McKeown (Caddy); N Harper, N McLaughlin, D Pipe, R Cox, K Hall (Coton Libs); J Bailey, J Kendall, W Starkey, S Starkey, D Perry (Fife Street A); S Baker, K Baker, C Baker, B Bliss, Fife Street B; R Kirkland, L Kay (Green Bear); B Jephcote, I Fry (RAC Spts
); T Pallett, T Shuttleworth, B Taylor, D Hughes, R Bliss (Windmill B); P Kane, M Johnson, R Treadwell, B Marshall, D Woodward (The Works); J Matts, D Matts, M Hall (Co-op).