GE Energy Adds 250 Jobs and Expands Manufacturing Facility in Hungary
ÓZD, HUNGARY—April 28, 2011—GE (NYSE: GE) has underpinned its commitment to growth in Europe with a $4.9 million (900 million Hungarian Forint) investment at its Ózd facility in northeast Hungary. The investment will create an additional 250 jobs at the site.
The Ózd plant produces GE Energy’s ‘Elfa Plus’ range of safety and electrical system protection devices, which are exported to markets throughout Europe, the Middle East, Africa and South America.
GE Energy’s manufacturing plant is already the largest employer in the town of Ózd and the additional 250 jobs brings the total employed to 1600. The 20,000-square-meter facility was opened in October 1999 and is recognized as a model site for manufacturing.
The new manufacturing line was officially opened today at a ceremony attended by Sándor Czomba, the Minister of State for Employment Policy at the Ministry for National Economy; Gábor Ríz, Vice-President of Borsod Abaúj Zemplén County Council, Pál Fürjes, Mayor of Ózd and representatives of GE.
"As the Employment Policy State Secretary of the government, I am happy to be here in this modern plant that was inagurated in 1998 during the current government's previous term as the first major green-field investment in North-East Hungary.
"It was a symbolic act to demonstrate the revival of an underpriviledged region then. It is visible that the facility has not just grown both in size and profile in the past 13 years, but it is adding a new high value-added product line creating 250 new jobs. GE's economic significance and good corporate citizenship makes it an investor the Hungarian government welcomed back then and continues to support," said Sándor Czomba, Minister of State for Employment Policy, Ministry for National Economy.
Todd Johnstone, chief executive officer of GE Energy’s Industrial Solutions business in Europe, Middle East and Africa: "GE Energy is committed to increasing its business in Europe and creating jobs in the regions where we operate. We have invested in our manufacturing capability at Ózd to build on our established presence in Hungary.
"Building our business around local operations, like here in Hungary, is critical to evolving into a truly global company.
"The products produced here in Ózd will be installed in millions of homes and workplaces in many different countries. They are vital to the efficient and safe operation of businesses and public services in countries, so it is crucial that we are able to ensure consistent high quality production standards as well as competitive production costs."
The Ózd plant produces circuit breakers and other safety and protection devices for use in a wide range of domestic and industrial electrical installations. GE’s investment in new production technologies, including ultrasonic washing, laser welding and clean room assembly facilities will enable the consistent production of high quality safety critical devices at Ózd. Page 2 of 2 GE Energy April 28, 2011
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy www.ge.com/energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together with more than 90,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.