PACCAR Earns Washington State Trader of the Year Award

PACCAR announced today that it was selected for the 2008 Governor’s Trader of the Year Award. The award honors a Washington State business each year, recognizing a company that has significantly contributed to the expansion of Washington State’s international trade. PACCAR, which was founded in Seattle in 1905, has approximately 22,000 employees worldwide with more than 2,500 employed in Washington State. “It is an honor to be recognized by the State of Washington,” said Jim Cardillo, executive vice president. “This is a wonderful recognition for our dedicated employees and reinforces PACCAR’s well earned reputation as one of the premier global companies.”

PACCAR had an excellent year in 2007, achieving its second highest revenue of $15.2 billion and net income of $1.2 billion due to its global diversification, superior product quality, technology-led process efficiency and growing aftermarket parts and financial services business. The company set market share records in North America, Australia, Mexico and record industry sales for commercial vehicles above 15 tons in Western and Central Europe.

PACCAR is one of the largest exporters of capital goods in North America, selling products in more than 100 countries. PACCAR opened a sales and purchasing office in Shanghai, China, in 2007 to complement its office in Beijing. The office is focused on sourcing parts for worldwide manufacturing and aftermarket sales, as well as the sale of PACCAR powertrain components to customers in Asia.