Peterbilt History: In 1939 T. A. Peterman opened Peterbilt Motors as a means to rebuild old trucks for his logging operation. Peterman started Peterbilt Trucks by buying the Fageol Motors company in California and changing the name. Peterman's goal was to build chain-drive trucks for himself but they worked so well he ended up selling them to others. in 1945 Peterman died and his wife sold the company to the employees but they soon ran out of money and had to sell out to the Pacific Car and Foundry Company (PACCAR), the owners of KenworthTrucks.