INDIANAPOLIS, Aug. 23, 2024 (GLOBE NEWSWIRE) — Hurco Companies, Inc. (Nasdaq: HURC), a leader in CNC machine and control technology, is set to make a big impact next month at the International Manufacturing Technology Show (IMTS) in Chicago. At IMTS, the largest manufacturing technology trade show in North America, Hurco will showcase the results of its aggressive innovation and product development strategy. In its expanded 16,000-square-foot IMTS booth, Hurco will showcase how its unwavering focus on research and development provides cutting-edge technologies that increase productivity and profitability for customers around the world.
“Being at the forefront of technological innovation is in Hurco's DNA,” said President and CEO Greg Volovic. “In our industry, we often underestimate the vital role of software and technology in modern manufacturing. At IMTS, all of our CNC brands will showcase how they have pushed the boundaries of control technology. Our flagship Hurco brand will showcase some of our new AI-assisted technologies, including Hurco's new ChatCNC™ help bot and AI feature recognition developments. Our Milltronics brand will debut new levels of precision, surface finish and performance with a new vertically integrated machine control system. And our Takumi brand will introduce an all-new graphical user interface designed for the specific needs of the mold and die industry.”
IMTS attendees will also have an exclusive opportunity to experience Hurco's latest concept designs for next-generation controls, including a first look at a sleek, ergonomic new console with interactive control pods that visitors can get hands-on with. The Milltronics brand will spotlight its new INSPIRE+ platform, including INSPIRE control software.
Volovic added, “Miltronics recently expanded into a new facility in Indianapolis, strategically located near Herco's global headquarters, accelerating product development for the brand, leading to breakthroughs with the new INSPIRE+ control and the first INSPIRE-controlled true five-axis machining center.”
Beyond its expanded control technology and product line, Hurco's strategic partnerships with industry leaders such as Universal Robots, Kawasaki Robotics, SolidCAM and Air Turbine will ensure that its presence at IMTS spans the entire floor. Hurco Automation powered by ProCobots will demonstrate seamless integration of Hurco CNC machines with ProCobots' collaborative robot systems, eliminating tedious programming and enabling flexible automation across multiple machines. Additionally, Hurco's advanced control software can now be easily integrated with industrial robotic automation, as highlighted by the recently announced collaboration with Kawasaki Robotics.
Hurco is poised to redefine the future of manufacturing technology at IMTS. With innovation and excellence at its core, Hurco invites you to witness the dawn of a new era in manufacturing, where breakthroughs lay the foundation for tomorrow's industry leaders.
Volovic concludes: “The vertical integration of machines, control consoles and software is a clear competitive advantage that enables us to rapidly deploy innovations, leverage new technologies and respond to customer feedback. Comprehensive ownership of the technology and intellectual property embedded in our products allows us to quickly commercialize advancements that directly benefit our customers. As markets begin to recover, Hurco will be at the forefront, driving innovation and setting new industry standards in control technology and beyond.”
For more information about Hurco's IMTS booth space and presence, visit hurco.com/imts.
About Hurco Companies, Inc.
Hurco Companies, Inc. is an international industrial technology company that sells three brands of computer numerically controlled (CNC) machine tools to the metal cutting and metal forming industries worldwide. Two of the company's machine tool brands, Hurco and Milltronics, are equipped with interactive controls that include proprietary software for each brand. The company designs these controls and develops the software. The third CNC machine tool brand, Takumi, is equipped with industrial controls manufactured by a third party, allowing customers to decide which type of control to add to their Takumi CNC machine tools. The company also manufactures high-value machine tool components and accessories and provides automation solutions that can be integrated into any machine tool. The end market for the company's products are independent job shops, short-run manufacturing operations within large corporations, and manufacturers with production-oriented operations. The company's customers produce precision parts, tools, dies, and/or molds for industries such as aerospace and defense, medical devices, energy, transportation, and computer equipment. Headquartered in Indianapolis, Indiana, the company has manufacturing facilities in Taiwan, Italy, the United States and China and sells its products through direct and indirect sales forces throughout the Americas, Europe and Asia. The company has sales, application engineering support and service subsidiaries in China, Czech Republic, United Kingdom, France, Germany, India, Italy, Netherlands, Poland, Singapore, the United States and Taiwan. Website: www.hurco.com
Certain statements in this press release are forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, the cyclical nature of the machine tool industry, uncertain economic conditions which may adversely affect overall demand in the Americas, Europe and Asia Pacific markets, the risks of our international operations, the effects of government actions, initiatives and regulations, including import and export restrictions, tariffs, changes in tax laws and fluctuations in currency exchange rates, competition from larger and better-capitalized companies, our reliance on new product development, our need and/or ability to protect our intellectual property assets, our limited number of manufacturing and supply chain sources of supply, increasing prices for raw materials, particularly steel products, the effects of the loss of senior management and key personnel, our ability to integrate acquisitions and acquisitions that may disrupt our business and affect our financial results. failure to comply with data privacy and security regulations, breaches of network and system security measures, possible obsolescence of our technology and the need for advancements in technology, impairment of our assets, negative or unexpected tax consequences, uncertainties regarding the use of tax loss carryforwards, changes in the SOFR rate, the impact of the COVID-19 pandemic and other public health epidemics and pandemics on the global economy, our business and operations, our employees, and the business, operations and economies of our customers and suppliers, and other risks and uncertainties more fully described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
More information:
Sonia K. McClelland
Executive Vice President, Financial Officer and Chief Financial Officer
Phone: +1.317.293.5309
