The 2020 Mid-Year Economic Update_long

GE, Japanese Manufacturer Agree to End JV

Dissolution of the GE Fanuc Automation Corp. joint venture will allow the companies to focus on their individual core segments.
GE and Japanese manufacturer FANUC have agreed to dissolve the GE Fanuc Automation Corporation joint venture. The agreement allows each company to refocus its investments on existing businesses and core industry expertise.
GE Fanuc Automation Corp., established in 1986, delivers hardware and software solutions, services, automation and embedded computing systems; as well as industry-leading CNC products in the energy, water, consumer packaged goods, government & defense, and telecommunications industries.
"Markets and opportunities have changed dramatically, and both companies have expanded into adjacent segments,” said FANUC honorary chairman Dr. Seiuemon Inaba. “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.”
Under the terms of the agreement, GE retains the software, services, embedded systems and control systems businesses, which will be known as GE Intelligent Platforms. FANUC will retain the global CNC business.
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