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Headquarters:
777 106th Avenue N.E. Website: http://www.paccar.com Paccar is a maker of light-, medium- and heavy-duty trucks sold around the world under the Kenworth, Peterbilt, DAF nameplates. The company also provides customized financial services, information technology and truck parts related to its principal business. Kenworth Truck Company builds premium commercial vehicles for sale in the US, Canada, Mexico and Australia and for export throughout the world. Peterbilt Motors also designs, manufactures and distributes premium commercial vehicles in the US and Canada. DAF Trucks manufactures trucks in the Netherlands, Belgium and the United Kingdom for sale throughout Western and Eastern Europe, and export to Asia, Africa and North America. PACCAR delivers its products and services to customers worldwide through an extensive dealer network with over 1,900 locations. PACCAR International sells the company's products in more than 100 countries and is expanding its dealer network in Asia and throughout the world. Approximately half of PACCAR's revenues and profits are generated outside the United States. PACCAR Parts operates a network of parts distribution centers offering aftermarket support to Kenworth, Peterbilt and DAF dealers and customers around the world. Aftermarket support includes customer call centers operating 24 hours a day throughout the year and technologically advanced systems to enhance inventory control and expedite order processing. PACCAR Financial Services provides finance, lease and insurance services to dealers and customers in 15 countries including a portfolio of more than 150,000 trucks and trailers and total assets in excess of $9 billion. The group includes PACCAR Leasing, a major full-service truck leasing company in North America, with a fleet of over 25,000 vehicles. In 2009, Paccar reported revenues of $8.9 billion and net income of $111.9 million. History In 1905, William Pigott, Sr. founded Seattle Car Mfg. Co. to produce railway and logging equipment at its plant in West Seattle. The Company later merged with Twohy Brothers of Portland to become Pacific Car and Foundry Company, a name it retained for the next 55 years. In 1924, William Pigott sold control of the Company to American Car and Foundry Company. During the Depression of 1929, business declined and the Renton plant fell into disrepair. Paul Pigott, son of the founder, acquired a major interest in the Company from American Car in 1934. Under his leadership, the Company expanded its products and introduced the Carco line of power winches for use on crawler tractors in the logging industry. This product line later became the basis for PACCAR's Winch Division located in Oklahoma, which now includes Braden, Carco and Gearmatic. In 1941, America went to war, and the Company's Renton plant built Sherman Tanks and tank recovery vehicles for the military. Pacific Car and Foundry also constructed dry docks and steel tugboats during the conflict. The Company entered the heavy-duty truck market in 1945 with its first major acquisition, Kenworth Motor Truck Company of Seattle. Pacific Car and Foundry greatly expanded its heavy-duty truck capability with the purchase of Peterbilt Motors Company in 1958. That same year, the acquisition of Dart Truck Company permitted its entry into the entirely new market of mining vehicles. In 1972, the company adopted Paccar as its company name. Pacific Car and Foundry Company, located in the original Renton facility, became a division of the company. Benefits Medical Benefits - PACCAR offers comprehensive medical benefits for you and your eligible dependents. Excellent preventive care benefits, prescription drug coverage, well-child care, and a company-paid tobacco cessation program are also provided. Vision Benefits - The vision benefits offered by PACCAR can be used toward annual eye exams and vision hardware and/or contacts. Dental Benefits - The dental benefits offered by PACCAR cover preventive services in full and a wide range of other dental services, including orthodontia benefits. Survivor Benefits - PACCAR provides company-paid Life and Accidental Death and Dismemberment insurance as well as the option to purchase additional employee and spousal coverage. Disability - PACCAR provides short- and long-term disability benefits to assist you if an illness or injury prevents you from working. Savings Investment Plan (SIP) - You can enroll in the PACCAR SIP, a 401(k) retirement savings plan that offers you a convenient, tax-deferred way to save for retirement. Pension Plan - PACCAR offers a company-funded pension plan. You will be vested after five years of service. Flexible Spending Account (FSA) - Save on your health care costs by using an FSA to pay dependent and health care expenses – medical, vision, prescription drug and dental – on a before-tax basis. Employee Assistance Program (EAP) - You and your immediate family may consult with a professionally trained counselor through PACCAR’s EAP, a free and confidential service designed to help employees and their families handle personal and work-related issues. Tuition Reimbursement Program - PACCAR will reimburse 50% of your tuition expenses for completing work-related courses at an accredited educational, certified training, vocational institution, or correspondence school. Educational Matching Gifts Program - The PACCAR Foundation will match your charitable donations to eligible educational institutions. Scholarship Program - The Paul Pigott Scholarship Foundation offers up to $10,000 in college scholarship opportunities to your children. Employee Stock Purchase Plan (ESPP) - If you choose to participate in the ESPP, you can purchase shares of PACCAR common stock through your payroll deductions and PACCAR will pay the brokerage fees. Employee Computer Purchase Program - You will have the opportunity to buy a personal computer, software and equipment through an interest-free loan from PACCAR. Updated December 31, 2010 |