Patron Interview: Joerg Bauer, President & CEO of Tungsram Group
- October 11, 2018
Why is Hungary a good place to do business?
Tungsram has always been in a special place in the economic history of Hungary, dating back to the time under the leadership of Lipot Aschner, when it became one of the few global players headquartered in Hungary. What made it special and successful was, that the Hungarians who have worked here were always innovative and loyal. This I could experience personally when I first visited our 5 factory sites in different parts of the country: It was often a very emotional experience for our teams to have the traditional name of Tungsram back after 30 years of GE. This loyalty and the spirit of creativity is there in many Hungarian enterprises we work with.
What would you like to see change to improve the business climate here?
I strongly believe in that Hungary has to move from the so-called component economy to an innovation driven one, from ’Made in Hungary’ to ’Invented in Hungary’. The added value of innovative manufacturing and Industry 4.0 is essental to be able to afford raising the wages in Hungary to e.g. Austrian levels. Of course that enabling ecosystem of innovation has to be expanded first: universities, dual education, startups are all important factors. Tungsram is working with all of those actors renewing its traditional role as partner of Hungary.
What do you most value about being an AmCham Patron?
In addition to all its activities aiming to further improve the competitiveness of Hungary, AmCham is a truly international organization, representing small and large, local and international companies that jointly represent a significant part of the Hungarian economy. Being able to contribute to its vision, but especially having the chance to participate in Patron-exclusive events, with the opportunity to receive first-hand insights from key Hungarian decision makers, add a lot of value to our membership.
About Tungsram Group
In April 2018, following a management buyout of parts of GE Lighting, Tungsram returned to the market as an innovative global brand. "Innovation is our heritage" - is our core belief reflecting our vision to reinstate Tungsram to its traditional role as one of the most innovative Hungarian enterprises. Exporting more than 95% of its production, its highly-productive supply chain is centered around its 5 factories in Hungary, while our aspiration spans beyond our broad core Lighting capabilities to state-of-the-art high tech.
This interview appeared in the October 2018 issue of Journal, AmCham's official magazine. To access all issues of Journal, please click here.