With its 12 sites and 12,500 employees in Hungary, it's the largest American employer and investor in the country. This is the short story of GE Hungary.
The Tungsram Co. was established in 1896 in Budapest. The company produced lamp with tungsten heater, its name came from tungsten + the German name of tungsten (Wolfram) = Tungsram. Before the 2nd World War, Tungsram was the global leader in lamp manufacturing.
|Tungsram poster from 1910. Source: Wikipedia|
At the end of Communism, in 1989, as one of the first investors in Hungary and in Central- and Eastern Europe, General Electric Lighting bought the 51% of Tungsram. Later got the 100% of the company (plus bought Budapest Bank, a leading commercial bank in Hungary). Based on the positiv experiences, GE continuously was developing its presence in the country, and today all the 5 business units are present here. GE is not just the largest American company in Hungary, but one of the largest employers and exporters. GE has 2,000 key suppliers in Hungary, and the social responsibility of GE involves more scolarship programmes, talent management programmes, GE Volunteers' programmes and the charity programmes of GE Foundation.
GE's largest sites are still in lighting industry. Ivan Hutter, member of top management talked in Amcham Hungary's Voice Magazine (June 2013) about one of these manufacturing sites: Hajduboszormeny.
Ivan Hutter,GE Lighting EMEA
GE is satisfiied with the Hungarian business environment, and signed a strategic agreement with the Hungarian government. The future of the company is impacted by the global economic situation, but there is no doubt: positive market trends will mean more investments in Hungary.
Finally, a 2-minutes video about the Opening of GE European Lighting Experience Centre:
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