Cree Gets $70 Million in New Orders

DURHAM, N.C., Aug. 7 -- Cree Inc., developer and marketer of electronic devices made from silicon carbide, has received $70 million worth of orders from Asian and European customers. One of the customers was Osram Opto Semiconductors GmbH & Co., which signed a one-year purchase agreement with Cree for standard brightness, high brightness, and small chip silicon carbide LEDs and wafer products. Osram's is the largest product contract to date, said Cree.
With a record backlog, we are well positioned to meet our goals with robust demand for our LEDs in high volume applications, said F. Neal Hunter, chairman and CEO of Cree. The company continues to focus on providing enabling component technology to markets that require cost-effective solutions.