September 19, 2013

Company profile: GE Hungary

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.

History

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.

Manufacturing

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.

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„GE has a large Lighting technology production facility in the city of Hajdúböszörmény. It is a global Center of Excellence for state-of-the art green lighting technologies and our measures of productivity, innovation and cost are all globally competitive. The municipal leadership is pro-business and we have an outstanding overall experience being part of the city and Hajdusag.” Ivan Hutter, Public Sector Market Development Director, GE Lighting EMEA

Future plans

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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