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Electronics Production | August 13, 2008

GE spin-off to affect Hungary

General Electric has not yet reached a final decision whether it will spin off its entire Consumer & Industrial Business or explore other options.
GE announced that it continues to explore all options for its Consumer & Industrial businesses with a primary focus on spinning-off the entire unit – Appliances, Lighting and Industrial – to existing GE shareholders, reports Portfolio.

This would affect around 10 000 Hungarian staff at their 8 facilities in Gyõr, Hajdúböszörmény, Kisvárda, Nagykanizsa, Vác, Zalaegerszeg and Budapest. General Electronics also operates its Lightning R&D in Hungary.

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