Hurco Celebrates Successful IMTS as Show Generates Excitement Over Technological Advancements

Rhea-AI Summary

Hurco Companies, Inc. (Nasdaq: HURC) made a significant impact at the 2024 International Manufacturing Technology Show (IMTS) in Chicago. The company's expanded 16,000-square-foot booth showcased groundbreaking advancements in CNC technology and control systems, attracting numerous visitors.

Key highlights included:

• A new control system with an ergonomic design and customizable interface
• Integrated AI tools like ChatCNC™ and AI feature recognition
• Strategic partnerships showcasing automated machine-tending solutions

Greg Volovic, President and CEO of Hurco, emphasized the success of IMTS 2024 and the positive reception of their advanced technologies. The company's focus on driving productivity and profitability through innovation resonated strongly with manufacturers, positioning Hurco as a leader in the industry.

INDIANAPOLIS, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) delivered a standout performance at the 2024 International Manufacturing Technology Show (IMTS) in Chicago, showcasing groundbreaking advancements in CNC technology and control systems. The company’s expanded 16,000-square-foot booth attracted an abundance of visitors at a well-attended show, underscoring Hurco’s leadership in innovation and ability to meet the evolving needs of manufacturers.

“IMTS 2024 was a resounding success,” said Greg Volovic, President and CEO of Hurco. “The enthusiasm from attendees reinforced that our focus on advanced technologies to drive productivity and profitability is precisely what manufacturers need.”

Hurco's new control system, featuring an ergonomic design and fully customizable interface, generated significant excitement. With integrated AI tools like ChatCNC™ and AI feature recognition, the system offers a transformative solution for simplifying machine operations and reducing programming time.

“ChatCNC™ and our AI-driven features were particularly well received,” Volovic added. “Attendees recognized the real-time support and efficiency gains that allow operators to concentrate on precision and quality.”

Hurco’s strategic partnerships also captured attention. The seamless integration of its ProCobots automated machine-tending solution with Universal Robots and Kawasaki Robotics highlighted Hurco's commitment to advancing automation and flexibility on the shop floor. Hurco products were present in many of our partnership booths, which generated interest and awareness that Hurco leads the way in integrating the technological capabilities of others through the use of a powerful CNC control system.

With an increase in visitors over IMTS 2022 and a robust presence throughout the event, Hurco exhibited its strength and reputation to continue driving innovation and setting new benchmarks in manufacturing technology.

“We are energized by the positive feedback and eager to incorporate these insights into our next wave of industry-leading innovations,” Volovic concluded.

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.

For More Information:

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

FAQ

What new technologies did Hurco (HURC) showcase at IMTS 2024?

Hurco showcased a new control system with an ergonomic design and customizable interface, integrated AI tools like ChatCNC™ and AI feature recognition, and automated machine-tending solutions through strategic partnerships.

How did Hurco's (HURC) presence at IMTS 2024 compare to previous years?

Hurco expanded its presence at IMTS 2024 with a 16,000-square-foot booth, attracting more visitors compared to IMTS 2022 and generating significant interest in their technological advancements.

What was the main focus of Hurco's (HURC) innovations at IMTS 2024?

Hurco's main focus was on advanced technologies that drive productivity and profitability for manufacturers, including AI-driven features and automation solutions to simplify machine operations and reduce programming time.

How did attendees respond to Hurco's (HURC) ChatCNC™ feature at IMTS 2024?

Attendees responded positively to ChatCNC™, recognizing its potential for providing real-time support and efficiency gains that allow operators to focus on precision and quality in manufacturing processes.