The manufacturing machine tool and
metal industry has always been cyclical,
but the combined events of an industry downturn and Sept. 11 led to the most devastating economic period the industry had ever
experienced. The foresight, leadership and
vision of James Fabris are directly responsible for not only the
survival of Hurco Cos. Inc., but also the
company’s recovery,
which has yielded
record profits during
the last two years.
For all business
leaders, tough times
demand tough decisions. Difficult times
often lead to reactionary decisions to stop
the bleeding and realize artificial positive
results quickly, which can eventually lead to
the demise of a company.
But Fabris didn’t make these mistakes.
Fabris evaluated the industry, the company
and its history, and created a vision for the
future. Developing a 25-point restructuring
plan, every decision was based on analytical
decisions that would lead to long-term success instead of short-term gains. At every
turn, he focused on the company’s core competencies — development of user-friendly
controls and software to automate shop
floor processes.
The restructuring plan led to the elimination of product lines in order to focus
resources on developing products that would
support the core competencies and growth
industries. Most difficult was abandoning the
product line upon which the company was
founded.
The business model Fabris created allowed
for targeted expansion in emerging markets
and flexible product line designs that could
easily be adapted to the needs of different
markets. Continuing to lead the industry,
Hurco has developed the most innovative
control software that will be launched this
year. It promises to revolutionize the industry.
HOW TO REACH: Hurco Cos. Inc., www.hurco.com or (317) 293-5309