Hurco Opening New Facility in Ningbo, China
Hurco continues to execute global strategy and emerging market sales penetration plan
INDIANAPOLIS-Hurco is in the final stages of the startup of its new component manufacturing facility in the Ningbo Economic and Technical Development Zone (NETD) in Ningbo, China. The Ningbo facility will expedite further efficiencies in the development, design, and manufacture of Hurco machine tools throughout the world, announced Jim Fabris, President and Chief Operating Officer of Hurco Companies, Inc.
In cooperation with the United States Department of Commerce (USDOC), the Zhejiang Provincial Peoples Government, the US-China Business Council, and the National Committee on US-China Relations, Fabris attended an official ceremony in New York City on May 9, 2006, to signify support of US-China Zhejiang Week and the NETD zone.
Approximately 200 km south of Shanghai, the NETD zone has preferential policies for decreased taxes and efficient customs clearance that will eventually yield significant cost savings for Hurco. The opening of the Ningbo facility is part of the company's capacity increase and production cost reduction program that was highlighted in the Hurco 2005 Annual Report.
The Ningbo facility, a wholly owned subsidiary of Hurco, will focus initially on machining castings. In addition to production cost reductions, the facility will provide additional capacity to keep Hurco's global supply chain moving smoothly.
In the future, Hurco plans to expand the Ningbo facility to include sub-assembly operations and a final assembly operation. "The final phase in our strategy will be to build machines that are specifically designed for the complexities of the Chinese market," said Fabris.
The Ningbo facility illustrates Hurco's momentum in executing its strategically planned worldwide business model that the company designed to meet customer demand throughout the world by continuing to offer quality machine tools at a lower cost with shorter lead times.
For more information about Hurco, go to www.hurco.com, call 1-800-634-2416, or send an email to info@hurco.com.
Based in Indianapolis, Indiana, Hurco manufactures sophisticated, yet shop-floor friendly machine tools designed for virtually any application or budget. The popular VM Series and the new TM Series of lathes combine small footprints with huge work cubes and best-in-class features. The VMX Series is a production-oriented line designed for speed. The VTX/HTX Series features application machines with 5-axis and horizontal offerings. Every machining center and turning center from Hurco utilizes one of the industry's most flexible controls. Parts can be programmed on the shop floor using Hurco's easy-to-use control via conversational language or using off-line CAM generated programs. The optional UltiMax 4 control or Max Classic control provides expanded memory and network software to facilitate large CAM generated programs. Converting CAD drawings is handled with the DXF transfer software option.
Contact:
Maggie Smith
Media Relations Manager
317-298-2622
smithmag@hurco.com
