The composition of the Tungsram Group was completed with 23 subsidiaries operating in 22 countries, the company said.
The announcement recalls that General Electric (GE) announced in February that it would sell its businesses to Europe, the Middle East, Africa and Turkey, and the world automotive industry in the Tunsgram Group under the leadership of former GE chief Jörg Bauer.
As a first step in the sale, the Tungsram Group acquired Tungsram Operations Ltd. on 3 April, including GE units in Hungary along with assets and contracts.
Following the acquisition of Hungarian units, international units have joined several stages, with the creation of a new subsidiary in most countries.
In her statement, Tungsram now sells construction and public lighting products anywhere in the world except North America and sells car lights all over the world.
Automotive lighting company at the Aapex trade show in Las Vegas announced in early November, the company said.
Jörg Bauer, chairman and chief executive of the Tungsram team, said
The Tungsram Group has established itself as a truly multinational center in Hungary and is launching its sales network in more than 100 international markets and becoming a major global lighting technology company in other areas.
At a press conference held in April, the CEO of the Group announced that it is building a global company based on the Hungarian base in lighting technology, reinforcing the Tunsgram brand and developing new products.
It is forecast that this year's revenue of 90 billion Guilders will be created by the Tungsram Group,
which is the same as last year's unit revenue, focuses on organizing the organization, particularly in the field of marketing and sales and innovation.