General Electric Corp. and FANUC Ltd. have finalized the dissolution of their 23-year-long joint venture, which delivered hardware and software, services, automation, embedded computing systems, and CNC products, to a range of manufacturing markets.
The dissolution was announced in August, when the two firms said their decision will allow both companies to refocus their investments in existing businesses, and for each to pursue its “respective core industry expertise.” No cost for the transaction has been stated.
According to their agreement, GE will retain the venture’s assets relating to software, services, embedded systems, and control systems businesses for government and defense, telecommunications, energy, water, transportation, and consumer packaged goods globally. This new company will be known as GE Intelligent Platforms.
FANUC and GE Intelligent Platforms will continue to work together in a commercial relationship related to GE’s motion control and motor products, and GE will maintain CNC services business in the Americas. FANUC will retain the joint venture’s CNC business.
GE Intelligent Platforms president and CEO Maryrose Sylvester said that company “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. ”
FANUC Honorary Chairman Dr. Seiuemon Inaba stated:, “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.”