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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 15, 1996
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PACCAR Inc
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(Exact name of registrant as specified in its charter)
Delaware 0-6394 91-0351110
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
777 - 106th Ave. N.E., Bellevue, WA 98004
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (206) 455-7400
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(Former name or former address, if changed since last report.)
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ITEM 2 ACQUISITION OR DISPOSITION OF ASSETS.
(a) Effective November 15, 1996 PACCAR Inc purchased all outstanding
shares of DAF Trucks, N.V. (DAF), a Netherlands corporation. DAF is a
vertically-integrated truck manufacturer, producing its own engines
and axles. Its primary products are cab-over-engine trucks. DAF has
factories in the Netherlands and Belgium, and it is the exclusive
distributor in Europe for medium-duty trucks manufactured by Leyland
in the United Kingdom.
The transaction was denominated in Dutch Guilders (NLG). PACCAR Inc
paid NLG 900 million for all outstanding shares of DAF. As a
precondition to the purchase, DAF was required to repurchase a 25%
minority interest in a Belgium subsidiary, DAF Trucks Vlaanderen N.V.,
for NLG 33 million. Sources of the funds used for payment consisted of
NLG 300 million from PACCAR Inc cash reserves with the remaining
balance borrowed under terms of two Dutch Guilder notes of NLG 300
million each. One note is with Bank of America NW, N.A. DBA Seafirst
Bank. The other note is with ABN AMRO Bank N.V.
(b) The acquired assets were used in the development, production,
marketing, sale and after-sale service of medium and heavy
commercial trucks. In addition the acquired assets were used to supply
components, such as axles, engines and cabs, to third parties for use
in the manufacture of buses and coaches, special vehicles, earth-
moving machinery, generator and other heavy industrial machinery.
PACCAR Inc intends to continue to use the assets in the businesses as
described.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) It is impracticable to supply the required financial statements at
this time. The financial statements will be filed within sixty (60)
days of December 2, 1996.
(b) With respect to pro forma financial statements, see response to Item
7(a).
(c) Exhibits. Exhibits filed herewith are listed in the accompanying Index
to Exhibits.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PACCAR Inc
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(Registrant)
Date November 27, 1996 By /s/ G. D. Hatchel
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G. D. Hatchel
Vice President and Controller
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INDEX TO EXHIBITS
EXHIBIT (IN ORDER OF ASSIGNED INDEX NUMBERS)
2 Plan of acquisition, reorganization, arrangement, liquidation or
succession:
P (a) The following exhibit is being filed in paper format under a
temporary hardship exemption: "Agreement for the Sale and
Purchase of the Entire Issued and Outstanding Share Capital
of DAF Trucks N.V."
(b) List of Omitted Schedules
The following schedules were omitted from the filing but will be
furnished to the Commission upon request:
(i) Schedule A - Selling Shareholders
(ii) Schedule B - Form of Notarial Deed
(iii) Schedule C - Escrow Agreement
(iv) Schedule D - Bank Accounts
(v) Schedule E - Warranties
(vi) Schedule F - PACCAR Undertakings
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