INDIANAPOLIS, July 1, 2013 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq:HURC), a leader in the development and manufacture of machine tools with integrated control technologies, announced today it has acquired the machine tool component business of LCM Srl, a designer and manufacturer of highly innovative high-end electro-mechanical components and accessories for machine tools.
Mr. Gregory Volovic, President of Hurco Companies, Inc., said, "This strategic acquisition of an innovative business such as LCM further supports our mission to develop advanced machine tool technologies to support our customers, who need increasingly sophisticated and versatile CNC machine tools to stay competitive and to grow profitability. LCM has been an important supplier of components for us as we developed and introduced our SRT line of 5-axis machining centers that employs LCM's direct drive spindle, swivel head, and rotary torque table to achieve superior simultaneous 5-axis machining. This acquisition will prove vital to our targeted growth plan, which supports the financial strength of our company, ensures product development agility, and will foster an expansion of LCM's line of high-quality value-added technologies."
Based in Italy, LCM has been producing and selling mechanical and electro-mechanical components for machine tools since 1986. LCM's team of technical experts has a wealth of knowledge in the design of direct drive electro-mechanical and torque technologies as well as quality control processes that ensure the reliability of their products while consistently meeting design specifications.