Paccar
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This article relies largely or entirely upon a single source. (October 2008) |
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| Type | Public |
|---|---|
| Traded as | NASDAQ: PCAR S&P 500 Component |
| Industry | Heavy equipment |
| 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 |  $17,050.5 billion USD (2012)[1] |
| Operating income | $1,960.7 billion USD (2012) |
| Net income | $1,111.6 billion USD (2012) |
| Total assets | US$ 18,834.1 billion (31 March 2013)[1] |
| Total equity | US$ 7.364,7 billion (December 31, 2011)[1] |
| Employees | 21,800 (2012)[2] |
| Website | www.paccar.com |
Paccar Inc (stylized as PACCAR, Inc.) was ranked the fourth largest manufacturer of medium and heavy-duty trucks in the world in 2011-12,[3] and has substantial manufacture in light and medium vehicles through its various subsidiaries.
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History[edit]
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.[4]
In World War II[edit]
During the Second World War, it was involved in war production, including Sherman tanks for the U.S. Army.[5] Other notable vehicles produced include the M25 Tank Transporter, known as the Dragon Wagon, and the T28 Super Heavy Tank.
Post war[edit]
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.[citation needed] 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.[citation needed]
Subsidiaries[edit]
- Kenworth
- Peterbilt
- DAF Trucks
- Leyland Trucks
- Winch (Braden, Carco and Germatic)
- PacLease
- Paccar Parts
- Paccar Financial Corp
- Paccar International
- Paccar ITD (Information Technology Division)
- Dynacraft
- Paccar Technical Center
Financials[edit]
| Fiscal Year | Revenue (Billions USD)[1] |
|---|---|
| 2012 | $17.06 |
| 2011 | $16.36 |
| 2010 | $10.29 |
| 2009 | $8.09 |
| 2008 | $14.97 |
| 2007 | $15.22 |
Criticism[edit]
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.[6]
See also[edit]
Notes and references[edit]
- ^ a b c d "Paccar Announces Record Quarterly Revenues and Excellent Profits" (pdf). Paccar Inc. Retrieved 26 May 2013.
- ^ "2012 Annual Report" (pdf). Paccar Inc. Retrieved 26 May 2013.
- ^ "Heavy & Medium Duty Market Research Report" (pdf). PRWeb. Retrieved 26 May 2013.
- ^ Paccar history webpage, bottom bar
- ^ Paccar - The Pursuit of Quality, Alex Groner and Barry Provorse; Documentary Media, Seattle, Washington, 2005 – 4th Edition
- ^ Portero, Ashley. "30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008-2010". International Business Times. Archived from the original on 26 December 2011. Retrieved 26 December 2011.
References[edit]
- David Wilma, Pacific Car and Foundry Co. becomes PACCAR Inc on January 25, 1972, HistoryLink, April 11, 2001.
- Paccar Inc, Paccar Official History Page
- Paccar - The Pursuit of Quality, Alex Groner and Barry Provorse; Documentary Media, Seattle, Washington, 2005 – 4th Edition
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Wikimedia Commons has media related to: Paccar |
External links[edit]
- Official website
- Historical Annual Reports for Pacific Car and Foundry
- Historical Annual Reports for Paccar
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