BELLEVUE, Wash. — Paccar says it will invest more than a billion dollars in research, development and capital investment programs in the near term. The investment will support product enhancement, efficient facilities, aftermarket services and information technology.
The company, which is the parent of Peterbilt and Kenworth Trucks, just broke ground on a new engine plant in Mississippi. Other projects include efficiency improvements at existing plants, product development for its Kenworth, Pete, and DAF nameplates, updated customer service software for Paccar Financial, and expansion of Paccar’s Asia activities.
In Mexico, where Paccar has 36 percent of the heavy truck market, a new $74 million factory has increased capacity by 50 percent. Kenworth’s U.S. and Canadian plants are also building trucks for the Mexican market, which is projected to reach 32,000 units this year.
In Europe, DAF has increased market share, improved margins and enhanced customer service through 5 percent to 7 percent productivity gains, new powertrain test facilities and Paccar Financial and Paccar Parts initiatives.
The number of Paccar vehicles in service worldwide has increased by over 25 percent in the last five years and now totals more than 1.5 million vehicles, says Paccar Parts General Manager and Paccar Vice President Rick Gorman. As a result, Paccar Parts is increasing its investment in new parts distribution centers worldwide.
— from Heavy Duty Trucking
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.