The Tungsram Group membership has ended with 23 subsidiaries operating in 22 countries, the company said.
The announcement reminded that General Electric (GE) Lighting announced in February that it would sell European, Middle Eastern, African and Turkish businesses as well as the global automotive lighting sector for the Tunsgram group led by former GE head Jörg Bauer.
As the first step of sales, the Tungsram Group acquired Tungsram Operations Ltd. on April 3, including GE units in Hungary along with assets and contracts.
After the takeover of Hungarian units, international units have joined several stages, with the formation of new subsidiaries in most countries.
In its statement, Tungsram now sells general lighting and building products anywhere in the world outside of North America and sells car lights anywhere in the world.
The company's automotive lighting business at the Aapex trade fair in Las Vegas was announced in early November, the company said.
Jörg Bauer, Chairman and CEO of Tungsram Group, said in a statement
Tungsram Group has been established as a multinational center in Hungary, and they launched their sales network in more than 100 international markets and become a global company that is important in lighting technology and in other areas.
At a press conference held in April, the Group CEO announced that he was building a global company based on the Hungarian base in the field of lighting technology by strengthening the Tunsgram brand and developing new products.
Planned this year, 90 billion of forints revenues will be generated by Tungsram Group,
which is the same as the unit revenue received last year, focusing on organizational organizations, especially in the areas of marketing and sales and innovation.