Hurco Announces Strategic Collaboration with Kawasaki Robotics to Deliver Turnkey, Industrial-Grade, Robotic Machine-Tending Solutions

Rhea-AI Summary

Hurco Companies, Inc. (Nasdaq: HURC) and Kawasaki Robotics (USA), Inc. have announced a strategic collaboration to deliver turnkey, industrial-grade, robotic machine-tending solutions. This partnership combines Hurco's 50+ years of CNC machine and controls innovation with Kawasaki's 50+ years of industrial robotics expertise. The collaboration aims to expand Hurco's product line with robust robotic machine tending solutions for high-mix, low-volume parts manufacturing, without the need for complex robot programming.

Key initiatives include:

• CNC Machine Automation: Developing new technologies for emerging market needs
• Market Expansion: Leveraging networks to reach new customers and markets
• Research and Development: Pooling resources for faster innovation

The companies will showcase interactive, no-code, turnkey, robotic machine tending demos at the 2024 International Manufacturing Technology Show (IMTS) in Chicago.

Positive

• Strategic collaboration with Kawasaki Robotics to enhance innovation in robotic CNC machine solutions
• Expansion of Hurco's product line to include industrial-grade robotic machine tending solutions
• Integration of Kawasaki industrial robots into Hurco CNC control, eliminating the need for complex robot programming
• Potential for increased productivity and profitability for customers through automation solutions

Negative

• None.

Market Research Analyst

This strategic collaboration between Hurco and Kawasaki Robotics is moderately positive for both companies. The partnership aims to create turnkey, no-code robotic machine-tending solutions, potentially opening up new market opportunities in the high-mix, low-volume manufacturing sector. This move aligns with the growing trend of automation in manufacturing, especially targeting small to medium-sized enterprises that may lack robotics expertise.

However, the impact on Hurco's stock may be in the short term. While innovative, the collaboration's success depends on market adoption and the ability to deliver on promised efficiencies. Investors should monitor key performance indicators such as new product sales, market penetration and customer acquisition costs in the coming quarters to gauge the partnership's true value.

Tech Expert

The Hurco-Kawasaki collaboration represents a significant technological advancement in the CNC machine industry. The key innovation here is the seamless integration of Kawasaki's industrial robots into Hurco's CNC control, enabling a no-code approach to robotic machine tending. This addresses a major pain point for manufacturers: the need for specialized robotics programming skills.

From a technical standpoint, this could dramatically lower the barrier to entry for automation in small to medium-sized manufacturing operations. The focus on high-mix, low-volume production is particularly noteworthy, as it targets a growing market segment that has traditionally been challenging to automate. If successful, this could position Hurco as a leader in accessible industrial automation solutions.

Companies will present interactive, no-code, turnkey, robotic machine tending demos in booth #236520 and booth #338319 at the 2024 International Manufacturing Technology Show (IMTS) in Chicago, Illinois (USA)

INDIANAPOLIS, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC), a premier CNC machine and controls industrial technology company, and Kawasaki Robotics (USA), Inc., a leading manufacturer of industrial robotics and automation systems, announced today the formation of a strategic collaboration aimed at enhancing innovation and delivering industrial-grade robotic CNC machine solutions to their customers.

The collaboration will leverage the strengths of both companies, combining 50+ years of Hurco's CNC machine and controls innovation for short-run manufacturing operations with 50+ years of Kawasaki’s industrial robotics expertise, to provide customers with turnkey robotic machine tending solutions. Together, they will focus on expanding the Hurco product line to include robust industrial-grade robotic machine tending solutions that can keep up with customer demand for high-mix, low-volume parts manufacturing without the need to learn how to program a robot, ultimately providing greater value to independent job shops and large manufacturing companies alike.

Hurco President and CEO Greg Volovic said, “The partnership with Kawasaki Robotics has resulted in a seamless integration of Kawasaki industrial robots into the Hurco CNC control, thanks to the collaboration between top engineering talent at both companies. This innovation provides manufacturers with accessible and practical automation solutions with the ability to employ industrial robotics without the need to hire an integrator or learn complex robot programming. This strategic partnership exemplifies the power of collaboration to drive innovation and deliver value to customers. Together, we will continue to do great things in an effort to increase the productivity and profitability for both of our respective customers.”

Kawasaki Robotics (USA), Inc. President Seiji Amazawa added, “We are thrilled to announce our partnership with Hurco Companies, Inc., as our shared values of delivering top-quality solutions to customers align seamlessly. Hurco’s extensive capabilities demonstrate their unwavering commitment to customer success, from their engineering team to their product and after-sales support. By pooling our strengths and embracing our shared vision of providing turnkey, industrial-grade robotic CNC solutions, we are fostering a bright future for machine shops where machinists can focus on complex jobs and let our robots handle tedious and redundant tasks, promoting sustained profitability.”

The collaboration will initially focus on several key initiatives, including:

1. CNC Machine Automation: New technologies and products that address emerging market needs;
   
2. Market Expansion: Leveraging each company’s networks to reach new customers and markets; and
   
3. Research and Development: Pooling resources for R&D efforts to innovate faster and more effectively.
   

For more information about the collaboration and upcoming initiatives, 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

• Facebook: https://www.facebook.com/HurcoCompanies/
• Instagram: https://www.instagram.com/hurcocompanies/
• Twitter: https://x.com/hurcousa
• LinkedIn: https://www.linkedin.com/company/hurco-companies-inc-/mycompany/
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About Kawasaki Robotics
With over 50 years of experience in the automation industry, Kawasaki is a leading supplier of industrial robots and robotic automation systems with expertise in a wide range of applications and industries. We deliver the best value robot offerings by providing a rich set of standard features on all robot models for application flexibility, renowned Kawasaki quality and performance, and unmatched customer support and after sales service. Learn more about Kawasaki Robotics here, watch robot application videos here and connect on Twitter, Facebook and LinkedIn.

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.

For More Information:

Sonja K. McClelland
Executive Vice President, Treasurer, & Chief Financial Officer
P: +1.317.293.5309

Johanna Lidgren
Marketing Manager, Kawasaki Robotics (USA), Inc.
P: +1.248.446.4100
E: Johanna.lidgren@kri-us.com

FAQ

What is the purpose of Hurco's collaboration with Kawasaki Robotics?

The collaboration aims to deliver turnkey, industrial-grade, robotic machine-tending solutions, combining Hurco's CNC expertise with Kawasaki's robotics knowledge to provide automated solutions for high-mix, low-volume parts manufacturing without complex robot programming.

When and where will Hurco (HURC) and Kawasaki Robotics showcase their robotic machine tending demos?

Hurco and Kawasaki Robotics will present interactive, no-code, turnkey, robotic machine tending demos at the 2024 International Manufacturing Technology Show (IMTS) in Chicago, Illinois, USA, in booths #236520 and #338319.

What are the key initiatives of the Hurco (HURC) and Kawasaki Robotics collaboration?

The key initiatives include CNC Machine Automation (developing new technologies for emerging market needs), Market Expansion (leveraging networks to reach new customers and markets), and Research and Development (pooling resources for faster innovation).

How will the Hurco (HURC) and Kawasaki Robotics partnership benefit customers?

The partnership aims to provide customers with accessible and practical automation solutions, allowing them to employ industrial robotics without hiring an integrator or learning complex robot programming, potentially increasing productivity and profitability for both independent job shops and large manufacturing companies.