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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.
Packard merged with Studebaker in 1953 and formed the Studebaker-Packard Corporation. This merger was intended to be temporary while an eventual consolidation with American Motors Company (AMC) was planned. Disagreements among the firms' executives thwarted these plans, so Studebaker-Packard remained a separate company.
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.
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]
Studebaker employees emerge through Gate 1 on Sample Street at 3:30 p.m. Monday, Dec. 9, 1963, at the end of their shift shortly after company officials in New York City confirmed news stories ...
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 ...
Open windows and broken glass can be seen at the Studebaker Administration Building, at 635 S. Main St., in this photo taken Aug. 29, 2023. The building was finished in 1909 and was last used in 2005.
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]