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The Studebaker-Packard Corporation is the entity created in 1954 by the purchase of the Studebaker Corporation of South Bend, Indiana, by the Packard Motor Car Company of Detroit, Michigan. While Studebaker was the larger of the two companies, Packard's balance sheet and executive team were stronger than that of the South Bend company.
Low sales and financial difficulties led to a merger with Packard in 1954, itself in financial trouble. [11] The new company, Studebaker-Packard Corporation, retired the Packard name in July 1958, [12] [13] but continued marketing automobiles under the Studebaker name until 1966. [14]
A new company was established named Worthington-Weir for American pump manufacture. [15] [b] In 1973, Studebaker-Worthington reached sales of $1 billion. [17] In 1974, MLW-Worthington arranged to sell 25 locomotives to Cuba for $15 million. Studebaker-Worthington required a permit under the Trading with the Enemy Act, which was denied.
The fountain was first erected in 1906 in Howard Park as a gift from Studebaker co-founder John M. Studebaker. It came down in 1941 as it fell into disrepair. A local committee raised money to ...
The Packard Automotive Plant was an automobile-manufacturing factory in Detroit, Michigan, where luxury cars were made by the Packard Motor Car Company and later by the Studebaker-Packard Corporation. Demolition began on building 21 on October 27, 2022, and a second round of demolition began on building 28 on January 24, 2023, which was wrapped ...
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In July 1954, Packard acquired Studebaker to form Studebaker-Packard Corporation, [31] however, further talks of a merger between AMC and Packard-Studebaker were cut short when Mason died on 8 October 1954. A week after his death, Mason's successor, George W. Romney, announced "there are no mergers under way either directly or indirectly". [32]
After an unsuccessful 1954 merger with Packard (the Studebaker-Packard Corporation) and failure to solve chronic postwar cashflow problems, the 'Studebaker Corporation' name was restored in 1962, but the South Bend plant ceased automobile production on December 20, 1963, [8] and the last Studebaker automobile rolled off the Hamilton, Ontario ...