INDIANAPOLIS, Oct. 11, 2024 (GLOBE NEWSWIRE) — Hurco Companies, Inc. (Nasdaq: HURC) made waves at the 2024 International Manufacturing Technology Show (IMTS), unveiling cutting-edge technology advancements that mark a turning point in the history of the company. ability to leverage emerging AI technology directly into its core control software. Business owners and operators will be pleased to know that these innovations, born from relentless R&D efforts, position Hurco as a leader in machine tool technology. Visitors to IMTS got an exclusive look at the revolutionary AI-driven features that will define Hurco’s next-generation control systems, demonstrating the company’s momentum and continued leadership in CNC control technology.
Hurco’s AI implementation isn’t just a buzzword: it’s real AI producing real results. What once took minutes with conversational programming can now be done in just seconds. This advancement accelerates the machine tool operating process, transforming efficiency in unprecedented ways. Hurco’s AI technology is a true programming option embedded at the heart of control technology, enabling customers to achieve faster, smarter and more precise results.
“Our success stems from two key advantages,” said Greg Volovic, President and CEO of Hurco. “First, our complete vertical integration: we own the entire CNC machine, control and software. This gives us unparalleled agility to test and integrate new technologies. Second, our unwavering commitment to innovation spans all economic cycles, supported by a strong balance sheet and a disciplined financial strategy cultivated over decades.
Volovic continues: “AI is an essential tool that helps our customers achieve new levels of efficiency and profitability. Tools such as Hurco’s ChatCNC™ Chatbot, which provides instant operator assistance, and AI Feature Recognition, which leverages machine learning to significantly reduce part programming times, have the potential to change the competitive landscape for our customers in the manufacturing industry.
Developing and showcasing this type of advancement in AI puts Hurco at the forefront of the AI manufacturing revolution, with the tools, expertise and strong financial strength to continue transforming the landscape machining. With its full innovation pipeline, Hurco is poised to continue helping its customers accelerate productivity and increase profitability for years to come.
About Hurco Companies, Inc.
Hurco Companies, Inc. is a global industrial technology company that sells its three brands of computer numerically controlled (“CNC”) machine tools to the global metal cutting and forming industry. Two of the company’s machine tool brands, Hurco and Milltronics, are equipped with interactive controls that include proprietary software from 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 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 offers automation solutions that can be integrated into any machine tool. The end markets for the Company’s products are independent workshops, short-term manufacturing operations within large companies 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 IT equipment. The company is headquartered in Indianapolis, Indiana, with manufacturing operations in Taiwan, Italy, the United States and China, and sells its products through direct and indirect sales forces throughout the America, Europe and Asia. The company has sales, application engineering and service subsidiaries in China, Czech Republic, England, France, Germany, India, Italy, Netherlands, Poland, Singapore, in the United States and Taiwan. Website: www.hurco.com
Certain statements contained in this press 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 these forward-looking statements. These factors include, among others, the cyclical nature of the machine tool industry; uncertain economic conditions, which could harm overall demand, in markets in the Americas, Europe and Asia-Pacific; the risks of our international operations; government actions, initiatives and regulations, including import and export restrictions, customs duties and changes in tax laws; the effects of changes in exchange rates; competition with larger companies that have greater financial resources; our reliance 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; increase in the prices of raw materials, particularly iron and steel products; the effect of the loss 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; violations of our network and systems security measures; the possible obsolescence of our technology and the need for technological advancement; depreciation of our assets; negative or unforeseen tax consequences; uncertainty regarding our ability to use tax loss carryforwards; evolution of the SOFR rate; the impact of the COVID-19 pandemic and other public health epidemics and pandemics on the global economy, our businesses and operations, our employees and the businesses, operations and economies of our customers and suppliers; and other risks and uncertainties discussed more fully 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.
For more information:
Sonja K. McClelland
Executive Vice President, Treasurer and Chief Financial Officer
Such. : +1.317.293.5309
