Tungsram to Extend Cooperation With Former Owner GE and Entering a New Growth Industry

BUDAPEST, Hungary, May 9, 2019 /PRNewswire/ -- Tungsram initially invests $1.5 million to create a new shop operation in its Kisvárda plant in Hungary for maintenance of aircraft engine components for GE Aviation. Within the framework of GE's Supplier Program, Tungsram has won the opportunity to extend its supply network with GE in Hungary.

"We need a strong and competitive SME sector to support our infrastructure and industrial projects across the globe, therefore we put great emphasis on our supplier development initiative in the region," said Endre Ascsillán, Vice President of GE Hungary. "We are proud to see how quickly and effectively Tungsram integrated into GE's  supply chain by transforming and upgrading its already existing processes and by also creating new capabilities in Kisvárda."

123 year-old brand, Tungsram was re-born by the sale of GE Lighting business in Europe, the Middle East, Africa and Turkey, as well as Global Automotive business, to Tungsram Group, controlled by Joerg Bauer, a former GE executive.

Tungsram is currently one of the biggest suppliers of GE in Hungary, providing approximately 25% of Tungsram Group's revenue.

Now the company is about to invests $1.5 million to create a new shop operation in its Kisvarda plant in Hungary for maintenance of aircraft engine parts for GE Aviation. Following close cooperation over the last 12 months Tungsram and utilizing the framework of GE's Supplier Development Program has won the opportunity to extend its operations with GE to become also a supplier for GE Aviation.

For this new activity to meet the industry requirements, Tungsram will be audited by the European Union Aviation's Safety Agency (EASA) and also the Federal Aviation Administration (FAA) in the US.

"This is a big milestone for Tungsram," said President & CEO of the Tungsram Group, Joerg Bauer. "The cooperation with Kisvarda allows us to enter a new growth industry. It also proves successfully our strategy of deploying the deep supply chain capabilities of Tungsram together with market leaders, like GE Aviation and GE Power and thereby creating new, solid pillars next to our Core Lighting activities."

"GE Aviation has a rapidly growing portfolio of commercial engine products, all of which have long lifecycles ? our need for global repair and maintenance capacity is a priority, which is a key driver of our collaboration with Tungsram," added Casey Ott, Managing Director of GE Aviation Hungary Kft.

SOURCE Tungsram Group