Cairo, 02.08.2019 – The Arab Organization for Industrialization (AOI) and innovative Hungarian lighting and tech multinational Tungsram have signed a Memorandum of Understanding today in Cairo. The parties are planning the joint manufacturing of street lighting and other innovative solutions in Egypt. The history of a productive relationship between Tungsram and Egypt goes back to almost 100 years.
The agreement has been signed by the Managing Director of AOI, Mohamed Ahmed Morsi and Tungsram Group’s President & CEO, Joerg Bauer.
AOI is the largest and the most advanced industrial entity in Egypt, the responsibility of which is to deliver the most developed technologies to the Egyptian market. AOI has been searching for reliable strategic partners to co-operate within certain fields and industries. According to the memorandum, AOI finds it reasonable to enter into a multi-level business cooperation with Tungsram in several projects through the foundation of a joint venture.
The most important project is the production of outdoor street lighting, but the cooperation expands to the field of smart solutions and agritech.
’The signing of today's MOU is the result of close cooperation between the teams of AOI and Tungsram and intense preparation over the last weeks’, Joerg Bauer said. ’This first milestone of the long-term partnership between AOI, one of the region's most advanced companies and Tungsram, partner of Egypt for the last 100 years, opens the door for joint state-of-the-art innovation and the production of sustainable solutions that will directly benefit the citizens of Egypt and beyond.’
Joerg Bauer has recently become the Hungarian Chairman of the Egyptian-Hungarian Business Council working within the Hungarian Chamber of Commerce and Industry (MKIK). The Egyptian Chairman of the business council is Dr. Ahmed Ragab. As the Hungarian chairman, Mr. Bauer’s role is to strengthen the connection between the Hungarian and Egyptian economy even further.
A Common History
Tungsram had already delivered lamps regularly to Egypt before World War I. The Tungsram S.A. d’Electricité was opened in 1922 in Alexandria, then the seat of the subsidiary was transferred to Cairo. Egypt was one of the most important overseas markets of Tungsram between the two world wars. In 1941 Tungsram CEO, Lipót Aschner planned to open a lamp and valve factory in Egypt, but the factory itself was never built as a consequence of World War II. After the war, Egypt belonged to the traditional markets where Tungsram first returned to and in the 1950’s it was the most important market for Hungarian radio sets in Africa. In the following decades Tungsram delivered not only various light sources and radio valves to Egypt but vacuum technological machinery as well, contributing thereby to the industrialization of the country.
About Tungsram Group
Tungsram, an iconic name has returned to the global market as an innovative, premium European brand with the acquisition of GE Lighting's Europe, Middle East, Africa and Turkey general lighting business along with the global automotive operation. „Innovation is our heritage” – is the core belief of the new management, reinvigorating a 123 year old tradition of playing a leading role in manufacturing technology and service solutions. Tungsram Group offers premium quality lighting solutions for indoor and outdoor applications, traditional lamps, automotive, as well as drivers & transformers. Tungsram is present in 22 countries with 23 subsidiaries and exporting 98% of its production, the company leverages sales into more than 100 global markets. Its highly-productive supply chain is centered around its 5 factories in Hungary working to the highest quality standards with its 4000+ employees and a network of 1600 suppliers and partners around the globe. Tungsram Group invests into future-safe technologies and dynamically growing global markets, such as smart solutions, smart cities, indoor farming and healthcare, while still strengthening the lighting core of its business.
For more information visit: www.tungsram.com
The Arab organization of Industrialization (AOI) was established 1975 for creating technology-based industries in the Arab World. The AOI Higher Committee is chaired by the President of Egypt. AOI operations include both military and civil activities. Its civil activities support societal development plans, with emphasis on infrastructure, ecological protection and railway projects. With its 15,000 skilled workers, AOI has access to the latest industrial technologies and advanced laboratory equipment.