Indianapolis, Indiana - Hurco Companies Inc., a leader in the development and manufacture of machine tools with integrated control technologies for the worldwide metal cutting market, announced today that, through a wholly-owned subsidiary, it acquired substantially all of the assets of U.S.-based Milltronics Manufacturing Co. Inc. d/b/a Milltronics CNC Machines. Founded in 1973, Milltronics designs and manufactures CNC knee mills, toolroom bed mills, vertical machining centers, combination lathes, slant-bed lathes, horizontal machining centers, and bed mills.

In addition, Hurco announces that its subsidiary Hurco Manufacturing Ltd. entered into an agreement to acquire

the business, technology, goodwill and operating assets of Takumi Machinery Co. Ltd., a Taiwanese company founded in 1988. Takumi designs and manufactures CNC vertical machining centers, double column machining centers, high speed bridge machines, and other machine tools, with sales primarily in Taiwan, China, and Europe. Subject to approval of the acquisition by the shareholders of Takumi at a meeting to be held before the end of July 2015, and to customary closing conditions, Hurco expects the closing of the acquisition to occur by the end of July 2015. Liberty Diversified International, Inc.(LDI) is the sole shareholder of Milltronics and the owner of approximately 98% of the outstanding shares of Takumi. LDI has agreed to cause the required Takumi shareholder approval to be obtained.

Gregory Volovic, president of Hurco, says "We believe these strategic acquisitions will significantly benefit global customers and Hurco. The Milltronics and Takumi machine tool brands are strong global brands for expansive machine tool product lines. 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."