Hurco Acquires Milltronics, Takumi Machinery
The acquisitions, according to Hurco, will benefit the company’s global strategies in China and Latin America.
Hurco Companies Inc., through a wholly-owned subsidiary, has acquired the assets of Milltronics CNC Machines (Waconia, Minnesota), a manufacturer of CNC knee mills, bed mills, VMCs, combination lathes, slant-bed lathes and HMCs. In addition, Hurco’s subsidiary Hurco Manufacturing Ltd. has agreed to acquire Takumi Machinery Co. Ltd. (Taichung City, Taiwan). Takumi designs and manufactures CNC VMCs, double-column machining centers, high-speed bridge machines and other machine tools, with sales primarily in Taiwan, China and Europe.
Hurco President Gregory Volovic says, “Milltronics and Takumi have a combined customer base exceeding 18,000 installed machines throughout 30 countries. Hurco plans to continue to market the Hurco-, Milltronics- and Takumi-branded machine tool products separately, given the distinguishing, unique values of each product line and brand.” He adds that the product lines should benefit from shared resources. “We believe these acquisitions will assist in our efforts to expand our global platform, particularly in strategic markets such as China and Latin America,” Mr. Volovic says.
