LONDON GE (Fairfield, CT) and FANUC Ltd. (Oshino-mura, Japan) are to to dissolve their joint venture, GE Fanuc Automation Corp., which was set up in 1986 and provides of hardware and software used in automation and embedded computing as well as computer numerical controlled (CNC) machine tools.
Under the terms of the agreement GE retains the software, services, embedded systems and control systems businesses globally. The company will be known as GE Intelligent Platforms, and will be led by Maryrose Sylvester, who is presently CEO of GE Fanuc Intelligent Platforms. FANUC retains the global CNC business.
The companies say this move will allow each company to refocus its investments to grow its existing businesses and pursue its respective core industry expertise.
The transaction should be completed by the end of this year.
“Our joint venture has achieved great success toward its original mission, which was to cooperate on the global growth and technical development of the PLC and CNC business” said Dr. Seiuemon Inaba, honorary chairman of FANUC.
“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,” added Inaba.
Sylvester said, “For GE, this change will mean a continued, intense focus on serving our customers around the world while continuing to invest in significant growth platforms like process control systems, enterprise and automation software and embedded computing as we continue to build further expertise around the GE vertical infrastructure segments.”