How much does Cree (Nasdaq: CREE) like China as a market for its energy-saving light-emitting diode technology?
“Cree chip, China heart,” Cree’s Chairman and Chief Executive Officer Chuck Swoboda said after Cree opened its first production plant in China last week.
Swoboda has stressed growth of the company both at its U.S. home and overseas. But according to LEDs Magazine, Swoboda made clear Cree is sold on China as a home for sales and production.
“We will continue to invest here for both human talent and the most state-of-the-art technologies,” Swoboda said. “We have committed that in the coming 3-5 years, we will continue to expand our operation in Huizhou.”
Cree opened the plant in Huizhou City on Dec. 8, and Swoboda made the trip. Cree announced plans for the plant a year ago.
“Cree management never runs this company as a U.S. company,” the magazine quoted Swoboda as saying. “We consider Cree to be a global company with local wisdoms.”
However, the company is careful in some respects about doing business in China.
Read the full LEDs Magazine report here.
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