Cree and STMicroelectronics Announce Multi-Year Silicon Carbide Wafer Supply Agreement
Cree, Inc. (CREE)
Last cree, inc. earnings: 4/29 04:01 pm
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US:NASDAQ Investor Relations:
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Source: Business Wire
Agreement to boost commercial expansion of SiC in automotive and industrial applications DURHAM, N.C. & GENEVA--(BUSINESS WIRE)-- 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
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