Tungsram to expand further on the global market - VIDEO REPORT

Tungsram to expand further on the global market - VIDEO REPORT

Péter Szijjártó, Minister of Foreign Affairs and Trade and Joerg Bauer, Managing Director, Tungsram

Tungsram, a Hungarian brand more than 100 years old, was revitalised in 2018 when a company managed by a former executive of GE purchased the EMEAT light source division of GE Lighting together with its global car light division. Today, the Hungarian Government concluded a strategic cooperation agreement with Tungsram, recognising the latter's role and position in Hungarian economy.

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Tungsram has always enjoyed a special position in Hungarian economy. Actually, one of the oldest and most prestigious brands of Hungary has been revitalised, with its 23 subsidiaries in 22 countries. It expanded to become an international corporation, that is, a globally operating Hungarian company emerged.

These 23 foreign units have only commercial tasks. Production development takes place in Hungary only. Tungsram has five factories in Újpest, Hajdúböszörmény, Kisvárda, Nagykanizsa and Zalaegerszeg, with more than 4,000 employees.

Tungsram is globally renowned. The company is very strong and famous in North Africa and in the Middle East but Asian and South-American sales opportunities are going to be expanded, too. Their markets in Indonesia with its one hundred million inhabitants as well as in Malaysia, Pakistan and Egypt have already been developed.

With its products sold in 100 countries, Tungsram is the 3rd biggest privately-owned Hungarian company. 95% of the revenue of the corporation comes from export so it significantly contributes to the expansion of Hungarian GDP and export.

Including Tungsram, the Government of Hungary has 7 strategic partners of Hungarian relevance: Alföldi Tej, Bonafarm, Ganz Holding, Kőröstej, Richter, Tungsram and Waberer's.