STMicroelectronics : Cree and STMicroelectronics Announce Multi-Year Silicon Carbide Wafer Supply Agreement
January 07 2019 - 04:30PM
PR N°. C2868C
PRESS RELEASE
Cree and
STMicroelectronics Announce Multi-Year
Silicon Carbide Wafer Supply Agreement
Agreement to boost
commercial expansion of SiC in automotive and industrial
applications
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.
About
STMicroelectronics
ST is a global semiconductor leader delivering intelligent and
energy-efficient products and solutions that power the electronics
at the heart of everyday life. ST's products are found everywhere
today, and together with our customers, we are enabling smarter
driving and smarter factories, cities and homes, along with the
next generation of mobile and Internet of Things devices. By
getting more from technology to get more from life, ST stands for
life.augmented.
In 2017, the Company's net revenues were $8.35 billion, serving
more than 100,000 customers worldwide. Further information can be
found at www.st.com.
About Cree, Inc.
Cree is an innovator of Wolfspeed® power and radio frequency (RF)
semiconductors, lighting class LEDs and lighting products. Cree's
Wolfspeed product families include silicon carbide materials,
power-switching devices and RF devices targeted for applications
such as electric vehicles, fast charging, inverters, power
supplies, telecom and military and aerospace. Cree's LED product
families include blue and green LED chips, high-brightness LEDs and
lighting-class power LEDs targeted for indoor and outdoor lighting,
video displays, transportation and specialty lighting applications.
Cree's LED lighting systems and lamps serve indoor and outdoor
applications.
For additional product and Company information, please refer
to www.cree.com.
Forward Looking Statements:
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
the risk that we may be unable to manufacture these new products
with sufficiently low cost to offer them at competitive prices or
with acceptable margins; the risk we may encounter delays or other
difficulties in ramping up production of our capacity to supply
these products; customer acceptance of our 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 24, 2018, and subsequent filings.
Cree® and Wolfspeed® are registered trademarks of
Cree, Inc.
For further information, please contact:
STMicroelectronics
INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel : +41.22.929.58.12
celine.berthier@st.com
MEDIA RELATIONS:
Alexis Breton
Director, PR & Media Operations
Tel: + 33 6 59 16 79 08
alexis.breton@st.com
Cree, Inc.
MEDIA RELATIONS:
Claire Simmons
Corporate Marketing
Tel: +1 919-407-7844
csimmons@cree.com
ST- Cree - Wafer Supply
Agreement-VA
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: STMicroelectronics via Globenewswire
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