Paccar plans £500m spend

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Paccar is investing more than £500 million in research, development and capital investment programs, in the near term.
Mark Pigott, chairman and chief executive, said:  “In addition to the new engine plant being constructed in Mississippi, there are major investments underway at every truck plant to increase manufacturing efficiency by 20 per cent, and develop new product ranges at DAF, Kenworth and Peterbilt, as well as update Paccar Financial’s customer service software and expansion of Paccar’s Asia activities. 
In Europe, the DAF XF105, International Truck of the Year 2007, powered by the new Paccar MX 12.9-litre engine, has enabled DAF to reach record build levels, with additional production increases scheduled for the fourth quarter.
“Industry truck sales in Western Europe above 15 tonnes are strong and should reach 265,000 to 280,000 units this year,” said Aad Goudriaan, Paccar vice president and DAF president.  “Strong Central and Eastern European markets should be 85,000 units by year-end.  DAF will continue to increase its record production levels to meet customer demand.  DAF has benefited from 5-7 per cent annual productivity enhancements, new powertrain test facilities and PACCAR Financial and PACCAR Parts initiatives.  The result is increased market share, higher margins and excellent customer support of our products and services,” said Goudriaan.

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