GE and Fanuc have announced that the two companies have completed their agreement to dissolve the GE Fanuc Automation Corporation Joint Venture. The agreement reverts the respective portions of the joint venture back to the parent company. Now each company will be able to focus on its existing businesses. The two companies signed the final agreement in Chicago. They will now operate independently as Fanuc Ltd and GE Intelligent Platforms.
“Today begins the next phase in GE Intelligent Platforms’ focus to provide our customers with a sustainable advantage through industry-leading technology and the passion and expertise of our people,” said Maryrose Sylvester, President and CEO of GE Intelligent Platforms. “We will continue to invest in our product and solution platforms that allow our customers to compete and succeed in a challenging economy. In addition, we intend to utilize our world-class enterprise software as a platform for faster growth for the entire GE portfolio. ”
GE Intelligent Platforms continues as a technology company that serves a vast array of industries, like government and defense, telecommunications, transportation, and consumer packaged goods. The company delivers software and services, control systems, and embedded systems, energy, and water.
Fanuc Honorary Chairman Dr. Seiuemon Inaba said, “Our joint venture has achieved great success in the computer numerical control (CNC) business. We have achieved many things together, but FANUC is now looking forward to focusing our efforts on our industry-leading CNC portfolio and the opportunities unique to our industry that will deliver great benefits to our customers.”
The two companies will continue their commercial relationship and work together in projects related to GE’s motion control and motor products with no interruption in supply of these components. Also, GE is planning to support its CNC customers in the Americas through its CNC services business.