GE and FANUC announced that the two companies have agreed to dissolve the GE Fanuc Automation Corp. joint venture. This agreement would allow each company to refocus its investments to grow its existing businesses and pursue its respective core industry expertise. GE and FANUC expect the transaction to be completed by the end of this year, subject to satisfactory customary closing conditions.
Established in 1986 by the joint investments of GE and FANUC, GE Fanuc Automation Corp. grew to become a leading high-performance technology company that serves a vast array of industries around the world including the energy, water, consumer packaged goods, government & defense, and telecommunications industries. It delivered hardware and software solutions, services, automation and embedded computing systems; as well as CNC products.