Cree (CREE) Expanding In China With New Plant

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10:47:59 am on November 9, 2009

Cree just announced that the company will be expanding its presence in China with a new manufacturing plant. Cree is purchasing a new 592,000 square foot facility in Huizhou, Guangdong Province, China. The facility will be used to produce chips (the first time Cree has produced chips overseas) and as a cornerstone for future expansion inside China.

In a press release, Chuck Swoboda, Cree chairman and CEO, commented on the company’s plans:

“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. 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.”

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