GE Unit Boosts Stake in Hungarian Firm
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CLEVELAND — GE Lighting has increased its share of the Hungarian lamp-making company Tungsram to 75% from 56%.
“Tungsram has more than met our expectations,” said John D. Opie, senior vice president of GE Lighting.
GE Lighting purchased 56% of Tungsram in January, 1990. The company, which has 14,000 employees in 12 plants in Hungary and Austria, had 1990 sales of more than $400 million.
GE Lighting purchased the additional Tungsram stock from the Hungarian Credit Bank in Budapest.
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