Dissolved venture
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GE and Fanuc have agreed to end their 23-year partnership on the GE Fanuc Automation Corporation joint venture.
The venture was established in 1986 to provide hardware and software solutions to a range of industries, including energy, water, consumer packaged goods, government and defence and telecommunications.
According to the GE and Fanuc, dissolving the company will allow each group to refocus its investments and pursue its core industry activities.
Dr Seiuemon Inaba, Fanuc honorary chairman, said: ‘Our joint venture has achieved great success towards its original mission, which was to cooperate on the global growth and technical development of the PLC and CNC business. Over this time period, markets and opportunities also have changed dramatically and both companies further expanded into adjacent segments.
‘Today’s market conditions are such that it’s imperative we pursue these expanded opportunities and, while we have achieved great things together, it’s in both our best interests that we focus our efforts on industry opportunities unique to our respective companies and that will deliver greater benefits to both our companies.’
Under the terms of agreement, GE will keep the software, services, embedded systems and control systems businesses globally as part of a new division called GE Intelligent Platforms, while Fanuc will retain the global CNC business. The transaction is expected to be complete by the end of the year.
