Paccar Buys German Truck Leasing Co.

Truck maker Paccar Inc. said it has acquired a German truck leasing company. Terms were not released.

PACCAR Financial Services said Friday it entered into an agreement to purchase Truck Center Hauser GmbH (TCH).

TCH is headquartered near Frankfurt, Germany, has 10 operating locations in that country. It has a fleet of 1,200 trucks and 1,800 trailers serving about 3,000 customers, Paccar said.

Paccar, the parent of U.S. truck makers Kenworth Truck Co. and Peterbilt Motors Co. and Europe-based DAF Trucks.

Last year, DAF surged to new sales, profit and production records, further expanding its market share to a new high of 14.5%, Paccar said.