SHANGHAI, China, Aug. 23, 2007 (PRIME NEWSWIRE) -- Cree, Inc. (Nasdaq:CREE) today unveiled plans to significantly increase white XLamp(r) LED manufacturing capacity at its COTCO subsidiary in HuiZhou - tripling current capacity of lighting-class LEDs. Speaking at the 4th China International Forum & Exhibition on Solid State Lighting in Shanghai, Chris James, vice president - marketing and business development, characterized the planned expansion as part of Cree's multi-faceted efforts to both accelerate the adoption of LED lighting in China and to build momentum for the LED lighting revolution worldwide.
"China is a critical growth market for LEDs in general illumination applications and represents an unmatched opportunity due to the early-stage development of a national lighting infrastructure, explosive economic growth, the need for energy-efficient technologies and a growing concern over air and ground pollution," stated James. "The acquisition of COTCO Luminant Device Limited was the first step and gave Cree significant local manufacturing and sales capability in China. This expansion of white LED capacity is the next step, and we continue to develop plans to extend our capabilities and drive the LED lighting market."
About Cree, Inc.
Cree is a market-leading innovator and manufacturer of semiconductors and devices that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree's market advantage is its world-class materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products.
Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current, switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixture makers to defense-related federal agencies.
Cree's product families include blue and green LED chips, lighting LEDs, LED backlighting solutions, power-switching devices and radio-frequency/wireless devices. For additional product specifications please refer to www.cree.com.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as the risk we may encounter delays or other difficulties in ramping up production at our new facility; the risk we may be unable to manufacture products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for the products; variations in demand for Cree's products and its customers' products; and other factors discussed in Cree's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 25, 2006, and subsequent filings.
Cree and XLamp are registered trademarks of Cree, Inc. COTCO is a trademark of COTCO Luminant Device Limited.
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