GE imagination at work  Hungary




GE Hungary Rt. - Consumer & Industrial Ózd Plant – Healthy Workplace award (Government of Hungary)
GE Hungary Rt. – Energy Veresegyház – Workplace Campaign of the Year (United Way)
GE Hungary Rt. – Energy Veresegyház – Healthy Workplace Award (AmCham)
GE’s Women Network’s Hungary – Best European Network award


GE Hungary Rt. – "Best Corporate Citizen" Award (Figyelo)


GE Foundation Opening Doors Program – European Language Award for exemplary and innovative teaching of foreign languages
GE Hungary Zrt – Healthcare, Budaörs – 3rd place winner in “Best Workplace for Women” contest (Association for Women’s Career Development in Hungary)
GE Hungary Zrt – Healthcare, R&D Division – Alma Mater Award (University of Szeged)
GE Hungary Zrt. – Consumer & Industrial, Budapest – Tungsram Kodály Male Choir – Hungarian Heritage Award
GE Hungary Zrt. – CSR Best Practice Award (Hungarian Public Relations Alliance)
GE Hungary Zrt. – Energy Veresegyház – Healthy Workplace Award (AmCham)
Budapest Bank – Strategic HR Partnership Award (IVM-Bridge Consulting Co.)
Budapest Bank – CSR Best Practice Award (Hungarian Public Relations Alliance)
Budapest Bank – Best Internet Bank website 2008 – silver grade (Privátbanká
Budapest Bank – Best Bank Website 2008 – silver grade (Privátbanká
Budapest Bank – Most Innovative Bank 2008 – 3rd place (MasterCard Hungary)
Budapest Bank – Website of the Year 2008 – 3rd place (Hungarian Marketing Association)
Zoltán Vámos – Gábor Dénes Award (Novofer Foundation) for outstanding achievement in innovation


GE Hungary Zrt. – Ambassador of „Good Practices in Workplace Diversity” by the International Labour Organization (ILO) in Hungary
GE Hungary Zrt. – Aviation Veresegyház – Healthy Workplace Award (AmCham)
GE Hungary Zrt. – Aviation Veresegyház – Move Europe Award for Workplace Health Promotion
GE Industrial – GE’s 2007 European Excellence Award
GE Hungary Zrt. – Energy, Veresegyház – IIASA-SHIBA Award for Outstanding Performance in Quality Management (Hungarian Quality Club)
Budapest Bank – CSR Best Practice Award (Hungarian Public Relations Alliance)


GE Hungary Zrt. – “Most Productive Company of the Year” (Figyelo business weekly)
GE Hungary Zrt. – Energy Veresegyház – Workplace Campaign of the Year (United Way)


GE Hungary Rt. – “The Best Top 200 Corporations of the Year” (Figyelo)
GE Hungary Rt. – “Certificate of Appreciation” for outstanding corporate environmental responsibility in Hungary and the region (Embassy of the United States in Hungary)
GE Hungary Rt. – Energy Veresegyház – Workplace Campaign of the Year (United Way)
GE Hungary Rt. – Energy Veresegyház – Healthy Workplace Award (AmCham)


GE Hungary Rt. - Consumer & Industrial, Nagykanizsa – Environmental Savings Award (KÖVET Association)
GE Hungary Rt. – Energy Veresegyház – Healthy Workplace Award (AmCham)
GE’s Women Network’s Hungary - Best Mentoring Network global award


GE Hungary Kft. – Aviation - "For Veresegyhaz" Award
GE Hungary Kft. – Energy - "For Veresegyhaz" Award
GE Hungary Kft. – Energy - Healthy Workplace Award, Corporate category (AmCham)
GE Hungary Kft. – Consumer & Industrial – Generosity Award 2009 (AmCham Foundation)
GE Hungary Zrt. – Business Superbrands Award (Superbrands Hungary)
GE Hungary Zrt. – Energy, Veresegyház – Best Workplace for Women, 3rd place among companies employing more than 250 associates (Hungarian Business Leaders Forum)
GE Hungary Zrt. – Organizational Diversity Photo Contest, 3rd place (Hungarian Business Leaders Forum)
GE Lighting Global Technology Team – Hungarian Star Award (Duna TV)
Budapest Bank – Corporate Volunteer Program of the Year” award (Volunteer Center Foundation)
Budapest Bank – Excellence in Customer Service Award (Human Resource Foundation)
Budapest Bank – Business Superbrands Award (Superbrands Hungary)
Budapest Bank – Winner of Ad Review 2008 voting for best online ad (
Budapest Bank – Best Hungarian Personal Internet Bank (Global Finance)

Brief History

The company traces its beginnings to Thomas A. Edison, who established Edison Electric Light Company in 1878. In 1892, a merger of Edison General Electric Company and Thomson-Houston Electric Company created General Electric Company. GE is the only company listed in the Dow Jones Industrial Index today that was also included in the original index in 1896.

GE Businesses

CEE is a growth region for GE, which today represents a $4 billion market. It is also a major technology, engineering, manufacturing and finance location for GE’s Aviation, Power & Water, Oil & Gas, Lighting, Healthcare and Capital businesses. The company operates 21 factories, 6 technology- and 5 business centres and 3 banks here. The modernization needs of the region’s infrastructure, its drive to increase its competitiveness coupled with GE’s extensive presence here make the company a partner of choice for the countries.

GE in Central and Eastern Europe

Peter Stracar is the regional executive for GE Central and Eastern Europe (CEE). Despite the challenging economic environment, the company closed a successful year in 2012 both globally and in CEE where it employs 27 000 associates. At the same time, GE spent $1.5 billion to purchase products and services from more than 6,200 suppliers across CEE. As the region has to build and modernize its infrastructure, increase its efficiency and also meet CO2 regulations within the EU, GE's eco-friendly products (Ecomagination) help customers to meet all three objectives.
GE launched the first regional corporate blog in the CEE region. The GE for CEE Blog is a community-building digital platform that helps the region to create ties between different professionals, sharing best practices to generate ideas how CEE nations can work and grow together. In 2012 the site was among the finalists for two international awards, including the digital Public Affairs category of the Digital Communications Award, the European Excellence Award. This year the blog has been awarded with a Certificate of Excellence at the Sabre, an award recognizing excellence in European campaigns with a high level of strategic planning, creativity and business results in PR.
GE Power & Water’s impressive cutting-edge water filtration plant is in Oroszlány, Hungary. The products manufactured in Oroszlány support technology of water reuse applications and contribute to environmental sustainability. This technology was chosen by the city of Veresegyház in an effort to modernize the city’s water treatment facility.

Speaking of Veresegyház, GE Power & Water has a turbine plant in the city which produces gas turbine components and also builds turbines. Assembly area increased its export by 30 percent just last year and the increase of the whole factory was about 20%. The turbines provide efficient power supply in emergency situations and under the most extreme conditions, including a desert environment in several countries worldwide.

In July 2013 GE Oil & Gas started an expansion of its existing facility in Fót. It will host the state-of-the-art manufacturing base of central unit control panels (UCP) for gas and steam turbine power plants as well as for natural gas serving pipelines and stations. Bringing UCP production to Hungary is the latest in a long line of GE investments to align its production to new customer needs and to extend its technology capability locally and globally.
City Business Region
Budapest Lighting Europe, Middle East and Africa
Budaörs Healthcare Central Europe
Oroszlány Power & Water Global Centre of Excellence: Development and manufacturing of ZeeWeed membranes
Technology centers
City Business
Budapest Lighting
Budaörs Healthcare
Tatabánya Power & Water


Budapest Bank – MasterCard – Bank of the Year 2013 – „Best Hungarian financial institution”

City Business Profile
Budapest Lighting Light source manufacturing
Lighting Light source machinery manufacturing
Budaörs Healthcare Mammography and vascular sub-systems
Fót Oil & Gas Multifunctional center
Hajdúböszörmény Lighting Light source component manufacturing
Kisvárda Lighting Light source manufacturing
Nagykanizsa Lighting Light source manufacturing
Oroszlány Power & Water Ultrafiltration membrane manufacturing
Ozd Energy Management Power protection component manufacturing
Veresegyház Aviation Aircraft engines parts repair
Power & Water Gas turbine component manufacturing/assembly
Zalaegerszeg Lighting Light source component manufacturing

GE for the Hungarian Society


GE Volunteers, a global organization of GE employees and retirees, is committed to improving our communities, our company and our lives through volunteerism, leadership and camaraderie. GE contributes to the development of the local communities where it has operations. Our employees volunteer over 1 million hours of community service every year. The Hungarian chapter was set up in 1996 and since then it has helped with over 1,000 projects. In 2012, almost 3 000 GE volunteers devoted nearly 4 500 hours to implement more than 100 projects in Hungary

Innovative education projects

GE also invests in the future of Hungary through its innovative corporate philanthropy projects (GE Foundation Opening Doors secondary school talent development program; GE Foundation Scholar-Leaders university scholarship; Aschner and Öveges technology university scholarships).

  • GE Foundation Scholar-Leaders University Scholarship Program has been run in Hungary since 2003, managed by the Institute of International Education. The program has become a regional best practice, as it was launched in Poland, the Czech Republic and Romania, enabling students from the four countries to establish a regional network of young intellectuals during the annual summer seminars. The investment reached $2 million (HUF 450 million on today’s exchange rate) by 2012 the number of participants hit 462.
  • The innovative GE Foundation Opening Doors Secondary School Talent Development Program is designed for secondary school students from the emerging northeastern region of Hungary to provide a pipeline of internationally competitive, highly skilled employees who will be able to contribute to addressing the special challenges faced by the underprivileged region. To date, more than 600 students and 70 teachers took part in the program, including 109 students who began their two-year training in January 2013. GE is the biggest investor and employer in three cities in Northeastern Hungary (Ózd, Kisvárda and Hajdúböszörmény). To date, GE leaders have donated 4,000 hours of volunteer work to make the project a success. Additionally, over the past 12 years, GE Foundation, the company’s philanthropic organization has donated nearly $1,387 million (HUF 286 million on today’s exchange rate) to support the program. To celebrate the 10th anniversary of the innovative philanthropic GE Foundation Opening Doors Talent Development Program spanning over government cycles, the participating schools, in partnership with GE and the Ministry of Public Administration and Justice held a conference in the Senate Room of the Hungarian Houses of Parliament.
  • The Edison Engineering Program is a word known accelerated engineering and leadership program for fresh graduates from technical universities. The program allows young engineers to try themselves in 4-5 different business areas within research and development, while they also receive a structured, university-level academic program, relevant to the specific business area within GE. Beside professional knowledge, the program participants also go through the best GE trainings in leadership, communication, team-work and project management.
  • In 2005 GE Healthcare announced a new graduate and PhD scholarship program "Öveges József" for talented engineering students, who are interested in working on healthcare projects.
  • In 2010 the joint ELTE–BME–SOTE medical software development MSc faculty was created with guidance from GE Healthcare professionals.
Unique contributions to national goals
  • GE assumed a leading role in the annual campaign "Together for health and against breast cancer!" launched first in the fall of 2002. With the support of GE Healthcare, the Chain Bridge, lit in pink, nicknamed the Bridge of Health, became the symbol of the national campaign aiming to call attention to the fact that breast cancer is curable, and also to the importance of early diagnosis and healthy lifestyle.
  • In the fall of 2009 GE offered its best practice of an all-employee health awareness campaign for the partners of the Alliance to help mobilize their associates. The joint campaign under the patronage of the First Lady of Hungary delivered the key messages regarding healthy life style and the importance of breath cancer screening to 100 000+ employees of 17 partner companies in 2010, the second year of the campaign. The PartnerChain continues to grow and aims to reach 500 000 Hungarian employees in the coming years
  • New decorative illumination of the historic Chain Bridge (1999)


GE Hungary Kft. – CSR Best Practice 2011 – in the category of Exemplary CSR Practice
Budapest Bank – CSR Best Practice 2011 in the Exemplary CSR Practice category
Budapest Bank – CSR Best Practice 2011 – Recognition for Exemplary CSR Project
Budapest Bank - MasterCard – Bank of the Year 2012, 3rd place
Budapest Bank – MasterCard – Bank of the Year 2012 – “Most active bank in promoting financial culture”
Budapest Bank – MasterCard – Bank of the Year 2012 – “Young Banker of the Year” award to Tamás Turmezey, third party sales manager
Budapest Bank – Hungarian Donors’ Forum competition: special prize to the “Budapest Bank for Improving Education and Financial Culture in Hungary” Foundation
Budapest Bank – Life Achievement Award to Gyula Fatér, CEO of Budapest Fund Management at the contest organized by the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSZ)
Budapest Bank – 1st place at the joint contest of BAMOSZ and in the category of investment funds generating the highest capital gains: Budapest (I.) Government Securities Investment Fund
GE Power & Water - HealthAhead Certification
GE Power & Water – Quality Star Award
GE Power & Water – Ecomagination Nation Certification


Budapest Bank - MasterCard – Money Compass Foundation – Most Active Bank in Promoting Financial Culture, 2011
Budapest Bank - MasterCard – Bank of the Year 2011, 2nd place
Budapest Bank - MasterCard – Consumer Loan Product of the Year 211, 2nd place
Budapest Bank – CSR Excellence/personal category: Ferenc Rolek, deputy CEO, HR and Marketing Leader of Budapest Bank Nyrt.
GE Power & Water - E Excellence
GE Aviation – First Class Health and Safety Performance
GE Aviation – ’Wings‘ Awards for Healthcare and Human Services
GE Aviation - Gerald L. Phillippe Award for Excellent Community Service


GE Power & Water - Global Star, GE Award for Outstanding EHS Practices
Budapest Bank - MasterCard – Money Compass Foundation – Most Active Bank in Promoting Financial Culture, 2010
Budapest Bank – CSR Best Practice 2010 in the Exemplary CSR Practice category
Budapest Bank – Bank of the Year 2010 (The Banker magazine)
Budapest Bank - CSR Hungary 2010, Corporate CSR Management category

Eszter Szőke
T: (06-1) 266-7833
Eszter Szabó
Regional Leader
Communications & Public Affairs
Central and Eastern Europe
T: (06 1) 237 6811

GE in Hungary

Facts CEE Hungary
Employees 27 000 12 500
Manufacturing plants 21 12 (in 10 cities)
R&D Centers 5 3
Regional Headquarters 5 3
Bank 3 1 (Budapest Bank)
NEW! Global Operations Center 1 1
GE has been operating in Hungary since the end of 1989, when it made a strategic investment in Hungarian lamp manufacturer Tungsram, acquiring its 50% + 1 shares. The majority of the packet (49.65%) was bought from foreign banks that owned Tungsram at that time. Building on its positive experiences GE continued to invest in its operations in Hungary, and today all of its businesses are active in the country. Currently GE is the largest U.S. investor and employer (12 500) and the 3rd biggest exporter in Hungary according to “Figyelő Top 200” 2013 edition. GE’s local sourcing in Hungary has doubled the value of locally purchased products and services to around 900 million dollar/year between 2011–2013.

At the end of 2012 GE signed a strategic partnership agreement with the Hungarian Government. Joerg Bauer was appointed President of GE Hungary on October 1st, 2013.

GE Global Operations Center, Budapest was inaugurated in February 2014, which is an integral part of GE’s global strategy driving service innovation and simplification in its operations. It will provide integrated shared services to GE businesses across Europe and beyond. The centralization of operations will make it possible to manage work for multiple countries with specialized teams addressing local language, regulations and logistics requirements from one location. The investment in the center will create hundreds of jobs over the next few years.

GE’s 21st century energy, transportation, healthcare, water and security solutions can help Hungary to increase its competitiveness through investments in infrastructure projects. The key to this success is GE's culture of partnership with our associates, with local communities, with the business and scientific community and with the government.

Industrial GE businesses are all part of GE Hungary Ltd. and its affiliates employing 10,000. GE Aviation, Power & Water, Oil & Gas operates 6 factories, while Lighting operates additional 6 factories in 5 cities. The country is the location of 3 regional headquarters and 3 technology centers. One of them is GE Lighting EMEA HQ co-located with the business’ global technology center in Budapest. GE Hungary Ltd. generated HUF 1,395 billion revenues in 2012, with 98% exports.

Budapest Bank Zrt. and its fully-owned affiliates are owned by GE Capital and employ 2,800 people. In addition to serving retail customers, Budapest Bank provides the full range of banking services to SMEs. The bank was chosen the best Hungarian financial institution at “MasterCard – Bank of the Year 2013” competition. Budapest Bank earned the title among others by being able to maintain its stability and profitability despite the unfavorable economic environment.
GE Healthcare invests globally over $1 billion in research and development annually, a large part of that money is invested in software development, an area where we specifically build our competence in Hungary. GE Healthcare is proud to connect the Hungarian engineering knowledge and creativity with most modern technology development methods in its world class technology centre in Budaörs. Softwares developed in Hungary primarily focus on vascular and tumorous disorders. The $13 million invested in research and development in the country creates more than $300 million annual export value for healthcare professionals worldwide. Today, every fourth radiology examination uses GE Healthcare’s imaging software applications are made in Hungary. In 2014, an 11 billion HUF ($48 million) Hungarian program has been launched to develop a novel healthcare information system promising to improve decision making and vastly increase the efficiency of healthcare. The four-year project, run by GE Healthcare with its consortium partners Pannon University, the University of Szeged and the National Institute of Oncology, includes a substantial investment grant of 6 billion HUF ($27 million) from the Hungarian government, and additional 5 billion HUF investment from GE.

GE Lighting operates 6 plants in 5 Hungarian cities, as well as its EMEA regional headquarters and Global Technology Centre in Budapest. In 2012, it opened its European LED Centre of Excellence at its Nagykanizsa plant. This investment positions GE Lighting to continue meeting the highest quality market needs, and to further expand manufacturing capacities. The Hungarian centre supplies LED solutions to markets in Europe, the Middle East and Africa. Its latest innovations include LED light sources and environmentally friendly, energy-efficient compact fluorescent and halogen lamps. By leveraging the Hungarian engineering knowledge and quality, the business can offer competitive and energy-efficient solutions for the Hungarian market.

The third technology center is the Tatabánya facility of GE Water & Process Technologies incorporating the European Research Center for water filtration membrane development, home of innovation of the highest performance waste water filtration membranes. The site also unites the various interconnected teams of project sales and realization.
A relentless
drive to invent
and build things
that matter
A world
that works better

Major GE Locations in Hungary

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information visit the company’s website at

The GE Works equation

We look at
what the
world needs

A belief
in a better

About GE

In April 2000, an aircraft engine component repair facility of GE Aviation was established in Veresegyhaz. The site applies high-tech technology that allows Hungarian professionals to prove that they are able to provide services previously available only abroad.