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GE to expand Fót business by 6000sqm, 100 employees

Int’l Relations

Could this be the expansion from the US that the Foreign Affairs Ministry promised earlier in the week? Whether so or not, General Electric’s Fót-based oil-and-gas operation will be getting a new 6,000 square meter production facility and office building, together with an increase in staff of over 100 new employees including some 40 engineers.

Upon announcing the expansion, the GE statement emphasized the importance of strengthening the relationship between the company and Hungary. “Since 1989, when GE came to Hungary, the country has played a key role in the company’s global operation,” stated GE Oil & Gas Manufacturing Business Unit global head Dave Cox. “The talented, highly qualified, experienced and motivated workforce [in Hungary] is a huge advantage for us.”

General Electric was one of the first foreign corporations to join a strategic partnership with the Hungarian government. Back in December 2010, GE’s local division entered into the agreement, becoming just the sixth company to do so. György Matolcsy, then National Economy Minister, said at that time that GE was among these first companies with a cooperation agreement as the company had actually been “a partner for more than two decades.” To date, the government has entered into 29 such partnerships.

GE is the largest U.S.-based investor in Hungary with 12,500 employees, 12 plants, three technology centers and three regional business hubs. The Fót facility currently employs over 140.

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