The transition of international entities to Tungsram Group has been completed by November. 23 legal entities in 22 countries have joined the headquarter in Hungary, while the 5,000 company headcount has been expanded with 106 ex-GE Lighting employees.
In February, GE Lighting announced the sale of its business in Europe, the Middle East, Africa and Turkey, as well as its Global Automotive business, to an entity controlled by Joerg Bauer, a former GE executive. The first milestone sale was realized in April 2018, when Tungsram Group assumed ownership of Tungsram Operations Kft., which included GE Lighting’s Hungary-based operations, employees, assets and contracts.
After the closing in Hungary seven months of hard work has started with the joint effort of Tungsram and GE teams. The transition of international units has been successfully completed in several rounds. In most of the countries a new legal entity was formed and signed a contract with the employees.
Tungsram is now able to sell lighting products all over the world except for North America, and has the right to sell automotive lamps globally. The automotive business of the company debuted at the North American market two weeks ago at the the AAPEX aftermarket show in Las Vegas, where the customers and the media welcomed the appearance of the Tungsram brand.
’Now I am saying thank you the departments and team members of Tungsram for the execution of this internationally unprecedented, extraordinary task’, said the President & CEO of Tungsram Group, Joerg Bauer. ’As a true Hungarian headquartered multinational company, we are leveraging our sales network in 100 markets, and we have the opportunity to become a global player in lighting and beyond.’