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Tungsram gets stimulus to boost competitiveness

Minister of Foreign Affairs and Trade Péter Szijjártó on Wednesday presented Hungarian lighting company Tungsram with a contract for HUF 282 million in stimulus to boost competitiveness during the coronavirus crisis, state news wire MTI reports.

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The company will put the money toward a HUF 565 million investment at its base in Zalaegerszeg, preserving 118 jobs, Szijjártó said.

Tungsram chairman-CEO Jörg Bauer said the company will boost capacity at its special glass components division, making its colored glass bulb production more cost-efficient.