Profile: Hurco Companies Inc (HURC.OQ)
19 Dec 2014
Hurco Companies, Inc., incorporated on June 4, 1968, is an industrial technology company. The Company designs, manufactures and sells computerized machine tools, consisting of vertical machining centers (mills) and turning centers (lathes), to companies in the metal working industry through sales, services and distribution networks worldwide. The Company’s core products consist of general purpose computerized machine tools for the metal cutting industry. The Company also produces computer control systems and related software for press brake applications that are sold as retrofit units for installation on existing or new press brake machines. Additionally, it produces and distributes software options, control upgrades, hardware accessories, and replacement parts for its machine tool product lines, and it provides operator training and support services to its customers.
Computerized Machine Tools- Machining and Turning Centers
The Company designs, manufactures and sells computerized machine tools equipped with an integrated computer control system that features its WinMax software. Its computer control system enables a machine tool operator to create complex two-dimensional or three-dimensional machining programs directly from an engineering drawing or computer aided design geometry file. The Windows operating system coupled with its conversational style of program creation allows its customers’ operators to create and edit part-making programs without incurring the incremental overhead of specialized computer aided design and computer aided manufacturing programmers. The Company’s controls with WinMax software and processors handle the data these complex part-making programs require, which enables its customers to create parts.
The Company’s offering of machining centers equipped with either a twin touch-screen console or a single touch-screen console consists of eight product lines: VM Product Line, VMX Product Line, Five-Axis Product Line, HS High Speed Machining Product Line, HMX Horizontal Product Line, TM/TMM Product Line, TMX Product Line and DCX Product Line. The VM product line consists of vertical machining centers for the entry-level market. The VM line consists of five models in four sizes with X-axis (horizontal) travels of 18, 26, 40, and 50 inches. The VMX product line consists of vertical machining centers. It is its flagship series of machining centers. The VMX line consists of twenty models in seven sizes with X-axis travels of 24, 30, 42, 50, 60, 64, and 84 inches. The five-axis product line is targeted at manufacturers seeking to produce multi-sided parts in a single setup. With the addition of the VMX60SRTi it has 10 models in five sizes to offer customers. The HS product line consists of two models with X-axis travels of 24 and 42 inches. The HMX machines have tool capacity, a chip management system, a built-in pallet changer, and a box-in-box design supported at both the top and bottom to provide rigidity for long production runs and heavy cuts. The HMX product line consists of four models in three sizes with X-axis travels of 24, 32, and 41 inches.
The TM series is designed for entry-level job shops and contract manufacturers seeking efficient processing of small to medium lot sizes. There is one TM model in six sizes: the TM6, TM8, TM10, TM12, TM18, and TM18L. It added motorized tooling on the lathe turret to further enhance the capability of the TM turning centers and designated it as the TMM product line. These turning centers with live tooling allow its customers to complete a number of secondary milling, drilling and tapping operations while the part is still held in the chuck after the turning operations are complete, which provides productivity gains. It offers one TMM model in two sizes: the TMM8 and TMM10. The Company’s TMX product line consists of turning centers. There are three models in two sizes. One of the models is equipped with an additional axis and motorized live tooling, and another one of the models has an additional spindle. The double column DCX Series includes three models in two sizes. These 2-meter and 3-meter machining centers are designed to facilitate production of large parts and molds often required by the aerospace, energy and custom machinery industries.
Computer Control Systems and Software
The Company’s Autobend computer control systems are applied to metal bending press brake machines that form parts from sheet metal and steel plate. They consist of a microprocessor-based computer control and back gauge (an automated gauging system that determines where the bend will be made). The Company markets two models of its Autobend computer control systems for press brake machines, in combination with six different back gauges as retrofit units for installation on existing or new press brake machines. In addition to the Company’s standard computer control features, it offers software option products for two-dimensional programming. These products are sold to users of its computerized machine tools equipped with its twin touch-screen or single touch-screen consoles featuring WinMax control software. The options include Swept Surface, SelectSurface Finish Quality (SFQ), DXF Transfer, UltiMonitor, UltiMotion, UltiPocket, Conversational Part and Tool Probing, Advanced Verification Graphics, the Tool and Material Library, NC/Conversational Merge, and Simultaneous Five-Axis Contouring.
The DXF Transfer software option eliminates manual data entry of part features by transferring AutoCAD drawing files directly into its computer control or into its desktop programming software, WinMax Desktop. UltiMonitor is a Web-based productivity, management and service tool, enabling customers to monitor, inspect and receive notifications about Hurco machines from any location where it can access the Internet. Customers can transfer part designs, receive event notifications through email or text, access diagnostic data, monitor the machine through webcam and communicate with the machine operator.
The Company’s UltiPocket calculates the tool path around islands, eliminating the arduous task of plotting these shapes. Islands can also be rotated, scaled and repeated. Conversational Part and Tool Probing options permit the computerized dimensional measurement of machined parts and the associated cutting tools. The Advanced Verification Graphics feature provides customers with a three-dimensional solid rendering of the part, including dynamic rotation. The Company’s Tool and Material Library option stores the tool and material information with the machine instead of storing it with each individual part program. The user enters the tool data and geometry one time and chooses the particular tool from the list when it is needed. Additionally, the library reads the part program and automatically locates the tool or displays an alert if the tool does not exist. NC/Conversational Merge lets the user incorporate conversational features, such as tool probing, pattern operations, and scaling, into existing G-Code programs. Simultaneous Five-Axis Contouring software enables a five-axis machine to command motion concurrently on all axes. This allows the user to create continuous tool-paths along complex geometries with only a single machine or part setup.
LCM Machine Tool Components and Accessories
The Company uses LCM products in its machine tools and also sells them to third parties. The products include: CNC Rotary Tables, CNC Tilt Tables, and Swivel Heads and Electrospindles. The LCM has five lines of CNC rotary tables for both horizontal and vertical-horizontal positioning. Customers can choose rotary tables with either hydraulic or pneumatic clamping systems. Additionally, LCM offers CNC rotary tables powered by either a torque motor or a high-precision mechanical transmission.
The Company’s LCM has seven lines of CNC tilting rotary tables. Four of the product lines are for 5-axis machining centers. Each of the seven lines is differentiated by the technology used for clamping (hydraulic or pneumatic) and by the type of transmission (either mechanical transmission or torque motor). The LCM has two primary lines of swivel heads that enable the spindle axis to be tilted with continuous motion and one line of electro-spindles (built-in motors for swivel heads). Two lines of swivel heads are differentiated by the type of transmission (either mechanical transmission or torque motor).
The Company competes with Deckel Maho Gildemeister Group (DMG), Mori Seiki Co., Ltd., Mazak, Haas Automation, Inc., Hardinge Inc., Doosan, Okuma Machinery Works Ltd, IBAG, Kessler, Peron Speed, GSA Technology Co., LTD and Duplomatic Automation.
Hurco Companies Inc
One Technology Way
INDIANAPOLIS IN 46268