October 6, 2005, Bellevue, Washington Innovative use of information technology earned PACCAR the top position in the recent InformationWeek magazine ranking of companies in the automotive sector. The InformationWeek 500 reviews the information technology strategies, investments and practices of companies in 21 industries.
PACCAR information technology is a critical tool in delivering world-class products and services to our customers everyday, said Mark C. Pigott, chairman and chief executive officer. PACCARs technology investments have accelerated product development cycles, increased manufacturing efficiency, improved product quality and streamlined aftermarket customer support. Over the past decade, PACCAR has invested over $1 billion on information technology programs including $150 million for capital investments such as more powerful mainframes, 10,000 new personal computers and proprietary logistics software, added Pigott.
PACCARs 700 technology employees focus on providing programs that seamlessly interface with our customers and dealers business applications to strengthen their operations, noted Janice Skredsvig, vice president and CIO. PACCARs technology innovation delivers long-term value by increasing its competitiveness in the market. InformationWeek magazine reports that leading companies are using wireless technology both on the factory floor and in distribution networks to reduce assembly costs, improve service and increase overall productivity. PACCARs use of wireless applications improves process efficiency and enhances information availability at the point of use, said Skredsvig.
PACCAR collaborates with leading companies including Dell and Microsoft during the development of new information technology products. Examples of PACCARs world-class technology platforms include:
Productivity gains from information technology initiatives are an important contributor to PACCARs outstanding financial results, said Tom Plimpton, president. For the first half of 2005, PACCAR reported record sales and earnings of $6.9 billion and $515.5 million, respectively. In addition, PACCAR has paid dividends each year since 1941 and has increased its regular dividends by 180 percent during the past six years.
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. It also provides financial services and information technology and distributes truck parts related to its principal business.
PACCAR shares are traded on the NASDAQ Stock Market, symbol PCAR, and its homepage can be found at www.paccar.com.