PACCAR (Nasdaq:PCAR) held an opening ceremony today to launch its new DAF assembly plant in Brasil. The ceremony, led by Mark Pigott, PACCAR chairman and chief executive officer, and Parana Governor, Beto Richa, was attended by state and local officials, DAF Brasil dealers, suppliers, transport companies and business and educational leaders.
DAF Brasil Factory in Ponta Grossa, Brasil (Photo: Business Wire)
“PACCAR is pleased to officially dedicate our new DAF Brasil factory,” said Mark Pigott. “The 300,000-square-foot assembly facility on 569 acres is a high-technology, environmentally friendly plant that will assemble the premium-quality DAF XF, CF and LF vehicles. The factory will build DAF trucks for Brasil and the South American market. Our DAF dealers have invested in the newest and most modern distribution network in the country to support our growing customers.”
“We are proud to be able to drive the first DAF truck made in Brasil,” said Governor Richa. “The $320 million investment by PACCAR reinforces Paraná’s commitment to attract high-quality jobs to the state. This DAF facility will stimulate economic growth and contribute to an improved quality of life in the region.”
DAF’s premium-quality vehicles have achieved industry leadership in Europe. “DAF is the European leader in on-highway tractors and has achieved a market share of 15.8 percent in the above 16-tonne segment this year. Customers appreciate the robust quality leadership, low operating costs and excellent resale value of DAF trucks and PACCAR engines,” said Ron Armstrong, PACCAR president.“The above six tonnes truck market in Brasil is projected to be over 140,000 units in 2013, with further growth expected in future years,” shared Bob Christensen, PACCAR executive vice president and chief financial officer. “The largest and fastest growing segment of the Brazilian truck market is the premium segment where DAF has launched its flagship model XF-105 vehicle.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts