INDIANAPOLIS, Sept. 26, 2016 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq:HURC), showcased manufacturing technologies that solve the problems manufacturers confront each day at the International Manufacturing Technology Show (IMTS) in Chicago that took place from Sept. 12-17. IMTS was the first trade show that featured all three Hurco Companies, Inc., brands at one venue. In addition to the well-established Hurco brand of CNC machines, the brands of CNC machines that Hurco Companies purchased in 2015, Takumi and Milltronics, were exhibited at the 16,000-square-foot booth.
IMTS was the official rollout of the Takumi brand in North America. The Takumi CNC machines are known for their design rigidity and are equipped with industrial Fanuc controls, which are attractive to manufacturers who adhere to strict standardization processes. IMTS was the proving ground for the revitalized Milltronics brand of CNC machines, which showcased the redesigned 9000 control, improvements to the machine design and multiple new models added to the product lineup. The booth that featured the Hurco brand of CNC machines focused on customer profitability with the 5-axis technology quadrant and the automation quadrant featuring our additive manufacturing 3D print head adapter garnering the most attention from visitors.
“The interest in the new Hurco products and technology was outstanding. Not only was the booth traffic heavy, the visitors seemed engaged and energized by the activities and demonstrations. In addition to a record number of orders, more than 80 percent of the attendees who asked us to contact them after the show are new contacts for us, which is an important metric as we continue to focus on the expansion of our customer base in addition to growing with our existing customers as their businesses expand. I am confident that IMTS 2016 was the best in our company’s 48-year history. Visitors were especially interested in how our technology can make their businesses more productive and more profitable. From automation to easy-to-use 5-axis control features for 5-sided machining, all three brands in the Hurco Companies portfolio demonstrated straightforward solutions to help manufacturers thrive in today’s competitive marketplace,” said Greg Volovic, President of Hurco Companies, Inc.
About the Company
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 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 North and South America, Europe, and Asia. The Company has sales, application engineering support and service subsidiaries in China, England, France, Germany, India, Italy, Poland, Singapore, South Africa, the U.S., and Taiwan. Web Site: www.hurco.com
Certain statements in this news release are forward-looking statements which 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, changes in general economic and business conditions that affect demand for our products, the risks of our international operations, changes in manufacturing markets, innovations by competitors, the ability to protect our intellectual property, breaches of our network and system security measures, fluctuations in foreign currency exchange rates, increases in prices of raw materials, quality and delivery performance by our vendors, our ability to effectively integrate acquisitions, negative or unforeseen tax consequences and governmental actions and initiatives including import and export restrictions and tariffs.
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Source:Hurco Companies, Inc.