GE Fanuc to split
GE and Fanuc of Japan have announced that the two companies have agreed in principle to dissolve the GE Fanuc joint venture that has been in place for more than 20 years. GE Fanuc says it is taking on new challenges in many new market segments and those have replaced some of the original synergies from the time the joint venture was founded.
Under the terms of the agreement GE retains the software, embedded systems and control systems businesses globally, as well as services for the Americas CNC portfolio, while Fanuc retains the global CNC business.
The companies expect the transaction to be completed by the end of this year, subject to satisfactory customary closing conditions. Once complete the business will operate under the new name GE Intelligent Platforms.
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