PACCAR, a truck manufacturer, plans capital investments of more than $ 500 million in 2021.
Previously, PACCAR’s excellent long-term earnings, strong balance sheet and consistent focus on quality have allowed the company to invest $ 7.3 billion in new and expanded facilities, innovative products and new technologies over the past decade.
More precisely, capital investments for 2021 are estimated in a range between 525 and 550 million dollars.
Additionally, PACCAR expects research and development expenditures to be between $ 320 million and $ 330 million in 2021.
The company ranks among the largest manufacturers of medium and heavy duty trucks in the world.
For next year, the company projects it will invest $ 425-475 million in capital projects and $ 350-400 million in research and development spending.
The company’s trucks are marketed under the Kenworth, Peterbilt and DAF brands.
These trucks, which are built at three plants in the United States, three in Europe and one in Australia, Brazil, Canada and Mexico, are used worldwide for road and off-road transportation of commercial and consumer goods.
The company also manufactures engines, primarily for use in PACCAR trucks, at its facilities in Columbus, Mississippi; Eindhoven, the Netherlands; and Ponta Grossa, Brazil.
Overall, the company competes in the North American Class 8 market, primarily with conventional Kenworth and Peterbilt models.
These trucks are assembled at the Chillicothe, Ohio facility; Denton, Texas; Renton, Washington; Mexicali, Mexico and Ste. Therese, Canada.
In addition, it competes in the North American Class 6-7 markets primarily with conventional Kenworth and Peterbilt models. These trucks are assembled at the Ste. Therese, Canada facility; Denton, Texas and Mexicali, Mexico.
“PACCAR is investing in clean, zero-emission diesel engine technologies, autonomous systems, connected vehicle services, next-generation manufacturing and distribution capabilities,” said Harrie Schippers, president and chief financial officer of the company.