SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Cree Inc.
CREE 85.70-2.9%Sep 17 4:00 PM EDT

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
Recommended by:
OldAIMGuy
richardred
From: slacker7111/7/2019 5:31:08 PM
2 Recommendations  Read Replies (2) of 10450
 
Cree and STMicroelectronics Announce Multi-Year Silicon Carbide Wafer Supply Agreement
1/7/2019
DURHAM, N.C. and GENEVA, Jan. 7, 2019 — Cree, Inc. (Nasdaq: CREE) announces that it signed a multi-year agreement to produce and supply its Wolfspeed® silicon carbide (SiC) wafers to STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications. The agreement governs the supply of a quarter billion dollars of Cree’s advanced 150mm silicon carbide bare and epitaxial wafers to STMicroelectronics during this period of extraordinary growth and demand for silicon carbide power devices.

“ST is the only semiconductor company with automotive-grade silicon carbide in mass production today, and we want to press forward to grow our SiC business both in terms of volume and breadth of applications served, targeting leadership in a market estimated at more than $3B in 2025,” said Jean-Marc Chery, president and CEO of STMicroelectronics. “This agreement with Cree will improve our flexibility, sustain our ambition and plans, and contribute to boosting the pervasion of SiC in automotive and industrial applications.”

“We remain focused on increasing the adoption of silicon carbide-based solutions, and this agreement is a testament to our mission,” said Gregg Lowe, CEO of Cree. “This is the third multi-year agreement that we have signed this past year in support of the industry’s transition from silicon to silicon carbide. As the world leader in silicon carbide, Cree continues to expand capacity to meet the growing market needs, particularly in industrial and automotive applications. We are extremely pleased to continue to support STMicroelectronics as we both invest to accelerate this market.”

Wolfspeed, A Cree Company, is the global leader in the manufacture of silicon carbide wafers and epitaxial wafers. The supply agreement enables silicon carbide applications in the broad automotive and industrial markets.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext