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Article: GE and Fanuc Announce Agreement to Dissolve Joint Venture.
- Article from:
- Business Wire
- Article date:
- August 18, 2009
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FANUC to reinforce industry-leading CNC portfolio; GE to continue global investment in industrial automation and process control systems, software solutions and embedded computing
CHARLOTTESVILLE, Va. -- GE (NYSE: GE) and FANUC announced today that the two companies have agreed to dissolve the GE Fanuc Automation Corporation 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 ...