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