In the manufacturing sector, the pace of competition continues to rise — pushing for lower price per part, shorter lead times, and more stringent quality control. Manufacturers today are focusing on achieving higher levels of productivity, optimizing processes, and reducing costs to meet these rising demands and maximize their machine utilization rates.
Hurco Companies, Inc., a US manufacturer of 5 axis machining centers, turning centers, autobend, CNC control software, is also affected by this change. The industrial technology company designs and produces interactive computer controls, software and computerized machine tools and machine tool components. The end market for the company’s products consists primarily of independent job shops and short-run manufacturing operations within large corporations in industries such as aerospace, defense, medical equipment, energy, transportation and computer equipment.