Membership in the Tungsram Group has ended with 23 subsidiaries operating in 22 countries, the company said.
General Electric (GE) Lighting announced in February that it will sell its European, Middle Eastern, African and Turkish companies, as well as the world automotive lighting sector for the Tungsram Group, led by former head of GE Jorg Bauer.
As the first step in the sale, on April 3, Tungsram Group took over Tungsram Operations Ltd., including GE units in Hungary, along with assets and contracts.
After taking over the Hungarian units, international units joined several phases, with the establishment of a new branch in most countries.
In a statement, Tungsram now sells products for buildings and public lighting anywhere in the world outside of North America and sells auto lights all over the world.
The company's automated lighting company at the Aapek Fair in Las Vegas announced it at the beginning of November, the company said.
Jorg Bauer, executive director of Tungsram Group, said in a statement that the Tungsram Group was established as a true multinational center in Hungary, launched its sales network in more than 100 international markets and became an important global company in light technology and in other areas.
At a press conference held in April, the Group's executive director announced that it is building a global company based on the Hungarian base in light technology by building the Tungsram brand and developing new products.
The Tungsram Group is expected to generate a revenue of 90 billion forints this year, equivalent to the revenues of units received last year, focusing on organizing the organization, primarily in marketing and sales, as well as innovations.