They are still alive and well:
http://www.emco.at
They mostly do CNC now; they have a mill the size of the Taig that was something like $17,000! (
http://www.desktopcnc.com/emco.htm)
'This Austrian based company has made machine tools since 1947, note this is not to be confused with the Far East company Enco. With interchangeable options the mill can mimic the control operations of Fanuc, Heidenhain, Siemens or EMCOtronic.'
Blue Ridge machinery handles the parts and accessories, but I don't think Emco makes the Mill/Drill anymore.
I have heard of the Enco, and that probably was intentional. I don't think they were nearly the quality of Emco. I couldn't find much at their site, the script that lists the products keeps crashing!