Paccar.com is Manufacturer of commercial vehicles
PACCAR Inc
The antecedents of the Paccar Inc can be traced back to the founding of the Seattle Car Manufacturing Company formed by William Piggot Sr. in 1905. The main business of the company was production of railway and logging equipment in its West Seattle plant. This company later merged with the company run by the Twohy Brothers of Portland to be renamed as Pacific Car and Foundry Company. The business of the company was expanded and the Carco line of Power winches, for use on crawler tractors of the logging industry, were manufactured. This company was then sold the control of the company to the American Car and Foundry Company in which Paul Piggot later acquired a major interest. This remains a major product line of Paccar’s Winch Division in Oklahoma even today, but includes Branden and Gearmatic.
The Pacific Car and Foundry Company, as we know it today,, was incorporated in 1924 in Washington. PACCAR Inc, was incorporated in 1971 in Delaware and was clearly the successor of the Pacific Car and Foundry Company. In 1941(during the World War II) the company manufactured Sherman Tanks and tank recovery Vehicles for the Military. They also constructed dry docks and steel tugboats. The company also entered the heavy duty truck market in 1945 and acquired Kenworth Motor Truck Company of Seattle to further its business in this direction. The company acquired an International standing when the Kenworth Truck Company moved into Mexico with 49 percent participation in an affiliate company Kenworth Mexicana S.A. de C.V. The Company also made inroads into the Australian market when it established its first truck assembly plant near Melbourne.
Paccar Inc. began manufacturing mining vehicles after it acquired The Dart Truck Company. The Structural Steel Division of the company was pressed into service to manufacture the Space Needle for the 1962 Seattle World’s Fair and played a major role in the construction of the third powerhouse of Grand Coulee and the World Trade Center in New York. The Paccar Financial Corporation was launched as the Carco Acceptance Corporation in 1960 to facilitate domestic sale of trucks in 1960. The Dynacraft division which provides belts, hoses, adapters and other accessories for trucks came into existence in 1967.
The diversified company therefore ceased to remain a Car Manufacturing Company and the Shareholders decided to adopt the name PACCAR Inc. in 1972. The company today has two principal segments—design, manufacture and distribution of light to heavy truck and related parts market business and a finance and leasing services business. PACCAR International Inc. in Washington and PACCAR Parts division were established in 1973. The former was established with the purpose of consolidating the sales and service of the company’s products abroad. PACCAR leasing Corporation came into existence in 1980 to handle the leasing and rental programs through the dealer network.
The acquisition of Foden Trucks in Sandbach, UK saw PACCAR Inc. expanding into a European truck manufacturer. Today PACCAR Inc has expanded into the oil pump sector, auto parts and accessories sector and even the Information technology sector. It has a presence in USA, Europe, Australia and several other parts of the world.
Role within it's industry
PACCAR is a company with a global reach. It is a leader in the design and manufacture of light, medium and heavy duty trucks, accessories and truck parts. It is also a well known name in the financial services sector and in the information technology sector.
Vehicle manufacture is the cornerstone of PACCARs business. Kenworth, Peterbilt Motors and DAF are the three major vehicle manufacturing companies of PACCAR. Kenworth builds commercial vehicles for distribution in the markets of US, Canada, Mexico and Australia. Peterbilt Motors manufactures and distributes commercial vehicles in US and Canada. DAF Trucks are manufactured in Netherlands, Belgium and the United Kingdom for the markets of Europe, Asia, Africa and North America.
The PACCAR dealer network is spread over 1800 locations and its products are sold in more than hundred countries. Efforts are currently on to expand the network into Asia and the rest of the world where it is yet to make its presence felt.
PACCAR Parts offers to service its customers through a network designed for attending to the after-sales service. Customers of Kenworth, Peterbilt and DAF can call on customer centers 24 x 7 and rest assured of obtaining instant service. The technologically advanced system of inventory control ensures efficient and effective service to customers throughout the network.
The Financial Services sector of PACCAR Inc focuses on providing finance and insurance services to its dealers and customers in fifteen countries and has a portfolio of 150,000 trucks and trailers. It has about $9 billion worth of assets. PACCAR Leasing, which is major truck leasing company in North America, is part of this group of companies.
PACCAR Inc has a major role in the transport industry and the company takes its responsibilities very seriously. One of the fundamental values of the company is environmental responsibility. Reduction of emissions and enhancement of fuel efficiencies in its truck models is a matter of concern to the company. The company has made a lot of investment into research in this area and has won several awards for its contribution.
The company also has consciously made efforts to contribute to the development of communities in which its workmen work and live. PACCAR has invested in social activities such as health care, education and arts.
Guiding principles
The guiding principles of the business determine the culture and ethics prevailing within the organization. PACCAR Inc, strongly believes that the success of the company depends on its commitment to honesty and integrity in its dealings with its customers, employees and shareholders. A well defined code of business ethics has been laid out by the company for its directors, officers, employees and this enables the organization maintain praiseworthy behavioral standards across all levels and in all its dealings.
The ten point standard policy, defines the principles of conduct expected of its directors, employees and other officers. Everyone must familiarize themselves with the policy and implement it. All levels of the organization must maintain high ethical standards, fulfill legal obligations and meet social responsibilities. The customer, shareholders, Employees, Governments and general public must hold the company in high esteem for its performance and effective communication. The company should also demonstrate honesty and integrity in all its financial dealings and ensure that all dealings are fully, completely and honestly disclosed to shareholders, Governmental agencies and all other prescribed authorities in time.
Integral to the guiding principles of the code of conduct is the need to protect and preserve the environment. PACCAR recognizes that it has the responsibility of reducing the impact of its products on the environment. A number of proactive environmental programs are initiated to protect the environment. Accordingly the company has put in place an environment management system and policy that focuses upon identifying and mitigating environmental hazards even as they arise or are likely to arise. A number of eco-friendly tools have been designed and all its employees are trained to recognize and take immediate action on possible effects of environmental pollution arising from its products.
Revenue
PACCAR Inc has a long history that spans 101 years and is today a leading global technology company. It has increased its technology investment in several facets of its business ranging from product design to spare parts supply. It employs over 21000 people worldwide and sells its products to more than hundred countries. The stocks are bearish and expected to continue to be so. The company declared a cash dividend of $2.77 during 2006. About 47% of its profits come from its operations outside the US. The net earnings during 2006 were 22 percent of the previous year and totaled to $380.5 million.
Languages
English
Address
- 480 Houser Way N
- Renton WA 98055 US
Contact
- PACCAR Inc
-
- +1 425 254 4702, Fax: +1 425 254 6000
Additional Information
Related Domains
External Links
- Stock: PCAR
- Alexa: Paccar.com
