Cree signs Huizhou expansion agreement first chip production base outside North America

[table] Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, has signed an agreement to purchase a 55,000-square-meter facility in Huizhou, Guangdong Province, China. The plant will be Cree's first chip production base outside of North America, designed to expand future component manufacturing capabilities.
Cree Chairman and CEO Chuck Swoboda came to China during his busy schedule, he said; “This investment will expand Cree's presence in China and demonstrate Cree's commitment to meeting the growing needs of global and local LED customers. Thanks to its strong local presence With a management team and extraordinary production history, we have laid a solid foundation in Huizhou. As we continue to advance the LED lighting revolution, we will continue to write a successful chapter in China."
More than half of Cree's global team work in China, and most of them work in the current Huizhou factory. Cree expressed sincere gratitude to Huizhou Municipal Party Committee Secretary Huang Yebin and Mayor Li Yuqiu for their support and assistance during the site selection process.
Huang Yebin, secretary of Huizhou Municipal Party Committee, said: "We are very pleased with Cree's investment in this city. Solid-state lighting is a strategic key green industry for China. From the government's point of view, we will fully support Cree through government projects and government policies. We believe this investment is a win-win project for Cree and China's solid-state lighting industry."

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