OF GMFanuc ROBOTICS
AUBURN HILLS, Mich., Sept. 15 /PRNewswire/ -- FANUC LTD has
completed its purchase of General Motors Corporation's (NYSE: GM)
50-percent ownership interest in GMFanuc Robotics Corporation, a joint
venture company formed by FANUC and GM in 1982. Reflecting the full
ownership by FANUC, GMFanuc Robotics will be renamed FANUC Robotics
Corporation, effective Oct. 1, 1992.
FANUC Robotics Corporation will consist of two subsidiaries, FANUC
Robotics North America, Inc. and FANUC Robotics Europe GmbH. Each will
be an integral part of FANUC's international robotics organization which
serves customers throughout the world including the three major robotics
markets: Japan, Europe and North America.
FANUC Robotics North America is headquartered in Auburn Hills and
will continue the operating focus of GMFanuc Robotics, concentrating on
the North and South American markets. The management team will continue
to be led by Eric Mittelstadt, president and chief executive officer.
The mission of FANUC Robotics North America is to continue to provide
customers with quality products and services in the same way that
enabled GMFanuc to become North America's leading robotics company in
both automotive and general industrial markets, including: sales,
process and systems engineering, joint product development,
manufacturing, and customer support activities.
FANUC Robotics Europe GmbH will continue the operating focus of
GMFanuc Robotics Europe GmbH, serving customers throughout Europe. It
is headquartered in Dusseldorf, Germany.
FANUC LTD, which is headquartered in Oshino-mura, Japan, is a world
leader in the manufacture of computer numerical controls for machine
tools, industrial robots, wire-cut electric discharge machines, and
automated plastic injection molding machines.
/CONTACT: Chuck Ragains of Anthony M. Franco, Inc., 313-567-5020,
for FANUC Robotics Corporation/
CO: FANUC LTD; General Motors Corporation; GMFanuc Robotics Corporation
IN: CPR AUT
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