General Electric will start production of LED lights in Hungary by the end of 2012
GE Lighting will start production of LED lights at its plant in Nagykanizsa this quarter, GE regional chairman-CEO Phil Marshall said on Friday. Parts for the LED lights will come from GE’s plant in nearby Zalaegerszeg. Three years earlier, General Electric announced mass layoffs at its lighting business in Hungary because of a European Union directive phasing out conventional, low efficiency lighting by 2013.
GE announced strong first-quarter 2011 operating earnings of $3.6 billion, up 58%, or $0.33 per share, up 65%, from the first quarter of 2010. GE is the largest U.S. investor and employer (more than 13,000 employees) and one of the biggest exporters of Hungary.