Cree and Sumitomo Expand Distribution Agreement

Daniel S. Burgess

LED manufacturer Cree Inc. of Durham, N.C., has announced that Sumitomo Corp. of Tokyo will purchase $200 million of its products during Cree’s fiscal year ending June 2006.

The distribution agreement, which is subject to the demands of Sumitomo’s customers and to other terms and conditions, is in addition to an existing arrangement that runs through June 2007.

The expanded agreement reflects predicted growth in the LED market for applications such as backlighting for liquid crystal displays. The companies expect purchases across Cree’s line of offerings, including its MegaBright, XBright and XThin UV, blue and green emitters.