Cree, Inc. (Nasdaq: CREE), a leader in LED lighting, announced an agreement to purchase a 592,000-square-foot facility in Huizhou, Guangdong Province, China. The facility will be Cree’s 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 revolution.”
More than half of Cree’s employees work in China, mostly at its existing Huizhou factory.
“We are very excited to have Cree’s investment in our city. Solid state lighting is a key strategic green industry for China. From the government’s perspective, we will do our best to support Cree through government projects as well as government policies. We believe this investment will be a win-win project for Cree and China’s SSL industry,” said Mr. YeBin Huang, Huizhou’s Party Secretary.
Cree also announced that Huizhou is joining the Cree LED City® program, an international initiative aimed at promoting the deployment of energy-efficient LED lighting. Huizhou has completed several LED streetlight trials and is in the process of deploying LED streetlights in the ZhongKai Hightech Industrial Zone.
Cree’s product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and radio-frequency/wireless devices. Cree products are used in applications such as general illumination, backlighting, electronic signs and signals, variable-speed motors, and wireless communications.
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