Hucker Announces Successful Acquisition of Two Machine Tool Companies

Indianapolis, USA, The Heck Group Corporation, the global leader in the development and manufacture of CNC machine tools for the metal cutting market, today announced that, through its wholly-owned subsidiary, it has acquired US-based Milltronics Manufacturing Co., Ltd. (hereinafter referred to as Milltronics). All operating assets of Mi Chaoli for short. Founded in 1973, Michaoli Company designs and manufactures CNC vertical milling machines, gantry machining centers, vertical machining centers, combined lathes, inclined bed lathes and horizontal machining centers. At the same time, Takumi also announced that its subsidiary Taiwan Heco Manufacturing Co., Ltd. (hereinafter referred to as Heco Co., Ltd.) signed an agreement with Takumi Machinery Manufacturing Co., Ltd. (Takumi, hereinafter referred to as Takumi) to acquire its business, technology, goodwill and operating assets. Jiang Ze is a Taiwanese company established in 1988. It designs and manufactures CNC vertical machining centers, gantry machining centers and high-speed gantry machining centers and other machine tools. It is mainly sold in Taiwan, China and Europe. Given that the acquisition of Takumi is subject to approval at Takara's general meeting of shareholders by the end of July 2015 and other customary closing conditions, Heck expects to close the acquisition by the end of July 2015. Liberty Diversified International, Inc. (LDI) is Mi Chaoli's sole shareholder and owns approximately 98% of Takumi's outstanding shares, and LDI has agreed to procure Takashi's other shareholders to agree to the acquisition. Mr. Gregory Volovic, President of Hurco, said: 'We believe that this strategic acquisition will greatly benefit Hurco and our global customers. As world-renowned machine tool brands, Michaoli and Takumi have a rich product line of machine tools. Michaoli The two brands and Takumi have a common customer base with more than 18,000 machine tools in 30 countries around the world. Heck will continue to operate the three brands of Heck, Michaoli and Takashi independently, maintaining their The value of their respective product lines and brands. Due to the full use of shared resources and mature mechanical design capabilities, the three major brands of Hecker, Michaoli and Jiangze will benefit from product improvement, technology and variety development. We We believe that this acquisition will not only help us expand our global platform, especially in strategic markets like China and Latin America, but also reduce manufacturing costs and improve production efficiency due to economies of scale,” continued Mr. Volovic : 'The machine tool products and end-user markets of Takashi Ze and Michaoli are highly complementary to Heck. About 60% of the product lines of Michaoli and Takashi are not available to Heck, which will expand our merger. product range and customer base, and will accelerate penetration into emerging markets. Unlike Heck and Michaoli machine tools, Takumi is equipped with industrial systems from Fanuc, Siemens, Mitsubishi or HEIDENHAIN to meet customers' high volume production environment. The combination of the three brands Heck, Michaoli, and Takashi represents the most comprehensive product portfolio in the machine tool industry, with more than 150 different types of machine tools. We believe that this acquisition of these two companies will increase Heck's consolidated earnings in fiscal 2016.' Michael Doar, Chairman and Chief Executive Officer of Heck, said: 'The culture of innovation has been a cornerstone of Heck since the company's inception in 1968, and we have been Emphasis on continuous research and development. We believe this culture will continue to Michaoli and Takashi, because the employees of both companies are as passionate as we are to promote the development of manufacturing through innovation. We look forward to working with Michaoli and Takashi Our employees and customers work together and share our hard-earned success with our shareholders.” About Heck: The Heck Group of Companies is an industrial technology company that designs and manufactures interactive computers for the global metal cutting and metal forming industries. Control systems, software, CNC machines and machine parts. The company's end markets primarily include independent processing shops and short-term manufacturing operations at large corporations, primarily in the aerospace, defense, medical device, energy, transportation and computer equipment industries. Based in Indianapolis, USA, Heck Corporation manufactures in Taiwan and Italy, and sells products in North America, Europe and Asia through direct and indirect sales teams. Heck has subsidiaries and respective sales, application support and service teams in China, UK, France, Germany, India, Italy, Poland, Singapore, South Africa and the US. About Michaoli: Michaoli is a manufacturing company that designs and manufactures CNC operating systems, milling machines and lathes, headquartered in Minnesota, USA, and is known for providing customers with high-quality hardware and software and excellent service. About Jiang Ze: Jiang Ze Machinery Manufacturing Co., Ltd. is a machinery company established in Taiwan, mainly producing vertical machining centers, gantry machining centers and high-speed gantry machining centers. Takumi machines are equipped with industry standard control systems such as those from Fanuc, Mitsubishi, HEIDENHAIN and Siemens.