Cree Signs Agreement for Expansion in Huizhou, China
Business Wire, Nov 09, 2009
New Chip Production Facility to Help Accelerate LED Lighting
Revolution
HUIZHOU, China — Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces an
agreement to purchase a 592,000 square foot facility in Huizhou,
Guangdong Province, China. The facility will be Crees first chip
production facility outside of North America and is targeted to also
house future components manufacturing expansion.
This investment enables us to expand our presence in China and
demonstrates our commitment to serving the growing demands of both our
local and global LED customers, said Chuck Swoboda, Cree chairman and
CEO. We are building on a solid foundation in Huizhou with a strong
local management team and a history of manufacturing excellence. We look
forward to continued success in China as we drive the LED lighting atlanta real estate
revolution.
More than half of Crees employees work in China, mostly at the current
Huizhou factory. Cree recognizes the support of Party Secretary YeBin
Huang and Mayor RuQiu Li during the site selection process.
We are very excited to have Crees investment in our city. Solid state
lighting is a key strategic green industry for China. From the
governments perspective, we will do our best to support Cree through
government projects as well as government policies