GE Veresegyház plant increases efficiency

125-year-old General Electric (GE) is on its way to transform from a traditional industrial company (manufacturing machines and equipment) to a digital industrial company. GE aims to increase its revenue from digital services based on data analysis, by USD 6 billion to 15 billion annually, by 2020. The company has announced that GE Power’s Veresegyház factory enhances its production efficiency using its own digital technologies.

According to Joerg Bauer, President of GE Hungary, “GE’s digital transition has an impact on our company’s divisions, global and local market presence because, in the future, we intend to focus primarily on those industries and products, in which both the production processes and the products themselves can be fully digitalized. GE has invested HUF 33 billion (appr. USD 120 mn), in the past two years, to create 2,500 high-value-added, digitally enabled positions in Hungary, where our purpose is to increase the value we create in the future by Internet of things (IoT) solutions based on data analysis, and support the Hungarian economy in the development of digital solutions.”

One of the best examples of GE’s transformation into a digital industrial company is the GE Power Veresegyház factory, operating since 2001, which is GE’s largest plant outside the United States. Employing more than 2,000 professionals, GE Power Veresegyház manufactures small and medium-capacity gas-turbine power plants and their components. The combined capacity of the power plants built in the factory is about 2 GW, equal to the current capacity of the Paks Nuclear Power Plant. This factory alone generates close to 5% of Hungary’s exports.