Cree Inc. (CREE) to Produce Next-Generation LED Wafers

Cree, Inc. (CREE) announced after-hours a new 150mm LED wafer production facility in Research Triangle Park [RTP] that is targeted to create hundreds of green jobs in North Carolina.

The Durham, North Carolina- based Cree said the new LED wafer production line will be located in the co.’s existing RTP production facility, and will allow Cree to produce 150mm LED wafers that are more than double the size of current ones, increasing the number of LEDs from a single wafer, helping to make LED lighting more cost-effective.

The new production line is scheduled to be installed over the next several quarters with a target of having the first products qualified on this line by June 2011.

Shares of Cree Inc. are lower in Monday’s AH session by 0.10%, currently trading at $50.48. The stock has traded as high as $83.38 this year.

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