STMicroelectronics : Cree and STMicroelectronics Announce Multi-Year Silicon Carbide Wafer Supply Agreement
January 07 2019 - 4:31PM
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 STMicroelectronicsST 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:STMicroelectronicsINVESTOR RELATIONS:Céline
BerthierGroup VP, Investor RelationsTel :
+41.22.929.58.12celine.berthier@st.com
MEDIA RELATIONS:Alexis Breton Director, PR &
Media OperationsTel: + 33 6 59 16 79 08alexis.breton@st.com
Cree, Inc.MEDIA RELATIONS:Claire SimmonsCorporate
MarketingTel: +1 919-407-7844csimmons@cree.com
- ST- Cree - Wafer Supply Agreement-VA.pdf
STMicroelectronics NV (NYSE:STM)
Historical Stock Chart
From Aug 2024 to Sep 2024
STMicroelectronics NV (NYSE:STM)
Historical Stock Chart
From Sep 2023 to Sep 2024