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Cree Signs $160M Deal With Sumitomo

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DURHAM, N.C., May 18 -- Sumitomo Corp. has agreed to purchase $160 million of Cree Inc.’s LED products during Cree’s fiscal year ending June 2005. Chuck Swoboda, Cree's president and CEO, said the agreement is the largest purchase commitment in Cree's history. Cree and Sumitomo also announced the extension of the current distributorship relationship through Cree’s fiscal year ending June 2007. The companies anticipate that the purchases will cover Cree’s full line of LED products representing its standard-brightness, mid-brightness and high-brightness devices, including MegaBright, XBright...Read full article

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    Published: May 2004
    chemicalsCreelight-emitting diodesMegaBrightNews & FeaturesSumitomoSumitomo Electric LightwaveXBrightXThinLEDs

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