| Type | Public |
|---|---|
| Traded as | NASDAQ: PCAR S&P 500 Component |
| Industry | Heavy-duty trucks |
| Founded | 1905 |
| Headquarters | Bellevue, Washington, USA |
| Key people | Mark C. Pigott, Chairman & CEO Thomas E. Plimpton, President |
| Products | Class 7 and Class 8 Trucks |
| Revenue | $10.292 billion USD (2010)[1] |
| Operating income | $1.35 billion USD (2010) |
| Net income | $456.7 million USD (2010) |
| Employees | 21,800 |
| Website | www.paccar.com |
PACCAR Inc NASDAQ: PCAR is the third largest manufacturer of heavy-duty trucks in the world (after Daimler AG and Volvo), and has substantial manufacture in light and medium vehicles through its various subsidiaries.
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Based in Bellevue, Washington, in the Seattle Metropolitan area. It was founded in 1905 by William Pigott, Sr., as the Seattle Car Manufacturing Company. Its original business was the production of railway and logging equipment. Upon a subsequent merger with a Portland, Oregon, firm, Twohy Brothers, Seattle Car Manufacturing Company became the Pacific Car and Foundry Company. In 1924, the founder, William Pigott sold a controlling interest in the company to American Car and Foundry Company. However, his son, Paul Pigott reacquired a significant interest in the company from American Car and Foundry Company in 1934.[2]
During the Second World War, it was involved in war production, including Sherman tanks for the U.S. Army.[3] Other notable vehicles produced include the M25 Tank Transporter, known as the Dragon Wagon, and the T28 Super Heavy Tank.
In 1945, Pacific Car and Foundry purchased Seattle's Kenworth Motor Truck Company. In 1958, they purchased Peterbilt Motors Company and the Dart Truck Company. In 1972 the corporate name officially changed to PACCAR Inc, and the Pacific Car and Foundry Company became a subsidiary division.
In 1981, PACCAR acquired Foden Trucks, a British manufacturer. Fifteen years later, in 1996, they acquired Netherlands-based DAF Trucks, which was in financial difficulties at the time. Also, in 1998 PACCAR acquired UK-based Leyland Trucks for its light and medium truck (6 to 44 metric tons) design and manufacture capability.
With its Peterbilt, Kenworth, and DAF nameplates, Paccar ranks second in production numbers in the United States and third in production numbers globally in "big rig" truck production; behind Daimler AG in the US market. Other Major heavy-truck competitors include Navistar International and AB Volvo.
| Fiscal Year | Revenue (Billions USD)[4] |
|---|---|
| 2010 | $10.29 |
| 2009 | $8.09 |
| 2008 | $14.97 |
| 2007 | $15.22 |
In December 2011, the non-partisan organization Public Campaign criticized Paccar for spending $0.76 million on lobbying and not paying any taxes during 2008-2010, instead getting $112 million in tax rebates, despite making a profit of $465 million.[5]
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