From MarketWatch:
SAN FRANCISCO (MarketWatch) — Truck maker Paccar Inc. reported Tuesday a 20% decline in first-quarter profit as strong demand overseas wasn’t enough to make up for continued weakness in the U.S. and Canadian markets.
The Bellevue, Wash.-based manufacturer posted a profit of $292.3 million or 79 cents a share, down from $365.6 million or 97 cents a share a year earlier.
The maker of Kenworth and Peterbilt trucks said big rig demand in the U.S. has been stung by higher fuel prices, lower housing starts and declining auto production.
Paccar is building an engine plant in Columbus. It’s also accepting job applications now. From the Paccar earnings press release about our plant:
In 2007, PACCAR announced plans to build a $400 million engine manufacturing and assembly facility in Mississippi. The facility will complement the company’s engine factory in the Netherlands and enable the company to manufacture PACCAR 12.9L and 9.2L engines for use in Kenworth, Peterbilt and DAF vehicles. Jim Cardillo, executive vice president said, “Construction of the world-class, high-technology engine facility is due to be completed in late 2009.”
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