Hurco's Unique Expertise in Control Technology and Dedication to Product Development to Be on Display at IMTS
INDIANAPOLIS, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (NASDAQ:HURC), a leader in CNC machine and controls technology, is poised to make a significant impact at the International Manufacturing Technology Show (IMTS) in Chicago next month. Being North America's largest manufacturing technology exhibition, Hurco chose IMTS to unveil the results of its aggressive technology innovation and product development strategies. With an expanded 16,000-square-foot IMTS booth, Hurco will showcase how its unwavering focus on research and development is delivering cutting-edge technologies that drive productivity and profitability for customers worldwide.
Greg Volovic, President and CEO said, "Being at the forefront of technological innovation is in Hurco's DNA. Our industry often underestimates the pivotal role of software and technology in modern manufacturing. At IMTS, every one of our CNC brands will showcase how we've pushed the boundaries of control technology. Our flagship Hurco brand will spotlight some of our new AI assistive 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. The Takumi brand will introduce an entirely new graphical user-interface designed around the specific needs of the die and mold industry."
IMTS attendees will also have the unique opportunity to engage with the latest concept designs of Hurco's next-generation control, including the premiere of a sleek new ergonomic console with an interactive control pod, offering visitors a hands-on experience. The Milltronics brand will spotlight its new INSPIRE+ platform, including the INSPIRE control software.
Volovic added, "Milltronics' recent expansion into a new Indianapolis facility – strategically located near Hurco's global headquarters – has accelerated product development for the brand and led to breakthroughs in our new INSPIRE+ control and the first INSPIRE-controlled true 5-axis machining center."
Beyond control technologies and product line expansions, Hurco's presence at IMTS will extend across the entire venue, thanks to strategic partnerships with industry leaders like Universal Robots, Kawasaki Robotics, SolidCAM, and Air Turbine. Hurco Automation, powered by ProCobots, exemplifies the seamless integration between Hurco CNC machines and ProCobots collaborative robotic systems, eliminating tedious programming and enabling flexible automation across multiple machines. Additionally, Hurco's advanced control software now integrates effortlessly with industrial robot automation, highlighted by our recently announced collaboration with Kawasaki Robotics.
Hurco is ready 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, in which groundbreaking advancements set the stage for tomorrow's industry leaders.
Volovic concluded, "Our vertical integration of the machine, control console, and software is a tangible competitive advantage, allowing us to swiftly deploy innovations, capitalize on emerging technologies, and respond to customer feedback. This comprehensive ownership over the technology and intellectual property embedded in our products enables rapid commercialization of advancements that directly benefit our customers. As the markets begin to recover, Hurco will be front and center, driving innovation and setting new industry standards for control technology and beyond."
For more information about Hurco's IMTS booth space and presence, please visit hurco.com/imts.
About Hurco Companies, Inc.
Hurco Companies, Inc. is an international, industrial technology company that sells its three brands of computer numeric control ("CNC") machine tools to the worldwide metal cutting and metal forming industry. Two of the Company's brands of machine tools, Hurco and Milltronics, are equipped with interactive controls that include software that is proprietary to each respective brand. The Company designs these controls and develops the software. The third brand of CNC machine tools, Takumi, is equipped with industrial controls that are produced by third parties, which allows the customer to decide the type of control added to the Takumi CNC machine tool. The Company also produces high-value machine tool components and accessories and provides automation solutions that can be integrated with any machine tool. The end markets 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 manufacture precision parts, tools, dies, and/or molds for industries such as aerospace, defense, medical equipment, energy, transportation, and computer equipment. The Company is based in Indianapolis, Indiana, with manufacturing operations in Taiwan, Italy, the U.S., 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, the Czech Republic, England, France, Germany, India, Italy, the Netherlands, Poland, Singapore, the U.S., and Taiwan. Web Site: www.hurco.com
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Certain statements in this news release are forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, 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; governmental actions, initiatives and regulations, including import and export restrictions, duties and tariffs and changes to tax laws; the effects of changes in currency exchange rates; competition with larger companies that have greater financial resources; our dependence on new product development; the need and/or ability to protect our intellectual property assets; the limited number of our manufacturing and supply chain sources; increases in the prices of raw materials, especially steel and iron products; the effect of the loss of members of senior management and key personnel; our ability to integrate acquisitions; acquisitions that could disrupt our operations and affect operating results; failure to comply with data privacy and security regulations; breaches of our network and system security measures; possible obsolescence of our technology and the need to make technological advances; impairment of our assets; negative or unforeseen tax consequences; uncertainty concerning our ability to use 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 discussed more fully under the caption "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.
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