New Delhi, January 11, 2012: World’s third largest company in the commercial vehicle market the Nasdaq-listed company PACCAR is looking to tap India for component sourcing and developing technology for its global operations. The US-based Paccar, which participated in the 11th Auto Expo here for the first time, has set up a technical centre in Pune in partnership with technology solutions company KPIT Cummins Infosystems Ltd. The work at the technical centre has already begun and the company will hire 200 employees by the end of this year and will focus on engineering, information technology, and component sourcing for worldwide production and aftermarket operations. PACCAR showcased its premium DAF CF-series truck at the Delhi Auto Expo, the largest automotive show in India.
“India is one of the largest and fastest growing truck markets in the world. The Auto Expo event offers an excellent opportunity to exhibit our industry-leading DAF product to Indian commercial vehicle customers. Our focus in India right now is to successfully launch the technical centre in Pune to develop solutions for global requirements and introduce ourselves to the supplier base here. India is a very vibrant and interesting market, but Paccar has no plans for vehicle sales in India at this time. We had a great experience here at Auto Expo considered to be one of the biggest trade show in India. There is huge potential market in almost all categories and that’s why so many big companies exhibit here. We have just started getting into contact with suppliers here…and work at the technical centre has also begun. By the end of this year we will hire 200 employees,” PACCAR Inc Managing Director (India Initiative) Donald J Schulte said.
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“The PACCAR India Technical Center will deliver quality resources to our global engineering and IT organizations, and enable PACCAR to accelerate new product development. PACCAR is pleased to be partnering with KPIT as they are leaders in providing world-class information technology and product development support, particularly in the automotive sector,” said Dan Sobic, PACCAR executive vice president.
“DAF vehicles are successful due to their excellent reliability, efficiency and high standard of driver comfort. The AutoExpo 2012 offers PACCAR the opportunity to meet with potential customers, dealers and suppliers,” added Dan Sobic.
The DAF CF being displayed is equipped with a PACCAR PX-6 180-horsepower engine and an Asia MotorWorks (AMW) tipper body. The versatile CF is designed for tractor and vocational configurations. DAF is the leading on-highway tractor manufacturer in Europe. DAF trucks are sold and serviced by a network of over 1,000 independent dealer locations worldwide.
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. PACCAR also designs and manufactures advanced diesel engines and provides financial services, information technology and distributes truck parts related to its principal business. PACCAR shares are traded on the NASDAQ Global Select Market, symbol PCAR. Globally, the company designs, manufactures and markets light, medium and heavy duty trucks under Kenworth, Peterbilt and DAF brands. PACCAR operates nine truck manufacturing facilities, two engine manufacturing units and 14 distribution centres globally. In 2011, the company had posted revenues of USD 11.5 billion and net income of USD 715 million. The global market for over 6 tonne trucks is estimated to be 2.9 million at present and will touch 3.6 million. In India, 300,000 trucks were sold in 2011 and the number is expected increase to 3,70,000 units by 2015, according to Schulte. Its homepage is www.paccar.com
KPIT Cummins Infosystems Limited (BSE: 532400; NSE: KPIT), a trusted global IT Consulting and product engineering partner, is focused on co-innovating domain intensive technology solutions for Manufacturing corporations (with special focus on Automotive, Energy & Utilities, Hi-Tech & Industrials verticals) to help its customers become efficient, integrated and innovative enterprises. A leader in technology solutions and services, KPIT Cummins currently partners with 150+ global Manufacturing corporations including Original Equipment Manufacturers (OEMs), semiconductor companies and Tier 1s, helping them globalize efficiently and bring complex technology products/systems faster to their global markets. Its homepage is www.kpitcummins.com