DURHAM, N.C., OCTOBER 8, 2009 — Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, announces the expansion of its North Carolina manufacturing capacity and the addition of North Carolina-based green jobs as the market for energy-efficient LED lighting continues to expand.
Cree expects to add 275 North Carolina jobs during 2009 to serve the expansion of LED manufacturing capacity and other staffing needs at its Durham, N.C., facility. Cree anticipates creating an additional 300 jobs by the end of 2012.
“Green jobs are a cornerstone of my vision for building a 21st century global economy in North Carolina,” Gov. Bev Perdue said. “This job announcement fits perfectly with my plan to grow a world-leading green economy in North Carolina that turns green into gold for decades to come.”
Cree has also begun manufacturing and assembling LED lighting products with Flextronics in Mecklenburg County, N.C. Initial products made in this facility are the ENERGY STAR®-qualified LR6 recessed LED downlight and award-winning LR24 LED troffer replacement.
“We are seeing tremendous growth for LED lighting,” said Cree CEO Chuck Swoboda. “Energy-efficient lighting has its roots right here in North Carolina, and Cree is proud to be bringing more green jobs to our state.”
Cree’s industry-leading line of LED lights, including recessed downlights and troffer replacements, began North Carolina production in August 2009.
Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor solutions for backlighting, wireless and power applications.
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 solutions are driving improvements in applications such as general illumination, electronic signs and signals, variable-speed motors and wireless communications.
For additional product and company information, please refer to www.CreeLEDLighting.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, including customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; 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 28, 2009, and subsequent filings.
Cree is a trademark of Cree, Inc.
ENERGY STAR is a trademark of the U.S. Environmental Protection Agency.