Diversified US industrial group GE and robotics technology and automation leader, Fanuc Ltd yesterday said that they had completed their agreement to dissolve the GE FanucAutomation Corporation joint venture formed in 1986.
In August 2009, the two companies had announced their mutual decision to end their joint venture due to the channged market conditions (See: GE, Fanuc to dissolve 22-year joint venture by year end).
The dissolution of the joint venture reverts the respective portions of the joint venture back to the parent company; GE will retain the software, services, embedded systems, and control systems businesses globally, under the name GE Intelligent Platforms. Fanuc will retain the global CNC business.
The two compnies had joined hands in 1986 to form GE-Fanuc Automation to emerge among the largest suppliers of hardware and software, services, automation, embedded computing systems and industry-leading CNC products. The new company 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 and defence, and telecommunications industries.
In 2007, GE-Fanuc added GE's embedded systems division entered operations management software, diversifying their focus from products and components to turnkey solutions for process and discrete manufacturers, under the GE Fanuc Intelligent Platforms brand.
The two companies signed the final disolution agreement yesterday in Chicago, and will now operate independently as GE Intelligent Platforms and Fanuc Ltd.