GE and FANUC, which together created GE Fanuc Automation Corporation—currently located in Albemarle County—announced today that they will end their joint venture. The companies expect the transaction to be completed by the end of this year.
According to a press release, both companies decided to part ways to “allow each company to refocus its investments to grow its existing businesses and pursue its respective core industry expertise.”
GE will keep software, services, embedded systems and control systems businesses globally and FANUC retains the global Computer Numeric Control (CNC) business.
“Our top priority is a smooth completion of transition and continuity for all customers, business partners and employees. We are committed to delivering our customer commitments in every segment of our business," said GE Fanuc Intelligent Platforms CEO Maryrose Sylvester in the release.
Elli Holman, press contact, told C-VILLE that those employees who are currently working on CNC business will become FANUC employees and those who are working on software and related business will become GE employees. "Business as usual," she said. "It’s a good time to focus on some growth areas."
