YAVNE, ISRAEL -- Orbotech Ltd. today released a statement saying the company is "actively engaged in negotiations" with Fin.Pro S.p.A over the sale of its European and American assembly AOI business.

Orbotech's chief executive said the company hopes a sale can be reached quickly "to minimize disruption to our existing client base, while providing a clear path for our customers to continue to receive best-in-class solutions and professional service in the future.”

Italy-based Fin.Pro is the parent company of Prodele, Prodelectronic, Neutec Electronic and Prodelec North Africa. The companies are longtime partners of Orbotech, the latter said in a statement.