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Charles & Colvard Signs New Agreement With Cree

By Stephanie Schaefer, Editorial Assistant
Posted on February 20, 2013
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Moissanite manufacturer Charles & Colvard has entered into an amended letter agreement with its supplier, Cree, that provides for the production of new silicon carbide raw material to be delivered quarterly until July 2015.

“Charles & Colvard’s growth in sales, expansion into consumer-direct initiatives and accelerated demand for a number of our most popular moissanite gemstones has resulted in the need to acquire new moissanite raw material,” Randy N. McCullough, chief executive officer of Charles & Colvard, said in a statement. “The production of new material also provides the opportunity for continued enhancements in our manufacturing processes and for our team to work closely with a designated team at Cree in a collaborative effort.”

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