GE and Fanuc split complete
1 min read
GE and Fanuc announced on 11 December that the two companies have completed their agreement to dissolve the GE Fanuc Automation Corporation joint venture.
This agreement returns the respective portions of the joint venture back to the parent company and allows each to focus on its existing businesses and pursue growth in its respective core industry of expertise, following a 20-year partnership.
The two companies signed the final agreement in Chicago, and they will now operate independently, as GE Intelligent Platforms and Fanuc Ltd.
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 to work together in a commercial relationship related to GE's motion control and motor products, with no interruption in supply of these components. GE also intends to support its CNC customers in the Americas through its CNC services business.
