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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.
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.
Studebaker had enjoyed earlier success and was the first independent automaker to produce an overhead valve V8 engine, [10] a 232.6 cubic inch, 120 hp unit, the first low-priced V8. The company's peak year was 1950, when it produced and sold 329,884 units. [11] Studebaker struggled during the first half of the decade.
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 ...
In July 1954, Packard acquired Studebaker to form Studebaker-Packard Corporation. [36] However further talks of a merger between AMC and Studebaker-Packard were cut short when Mason died on October 8, 1954. A week after his death, Mason's successor, George W. Romney, announced "There are no mergers under way either directly or indirectly". [37]
When Studebaker-Packard found itself nearing insolvency in 1956, the company entered into an Eisenhower Administration-brokered management agreement with Curtiss-Wright. Hoffman, Vance (who had become chairman of the executive committee after the Packard merger) and S-P president James J. Nance all left the company. From 1966 to 1972, he was ...
A limited liability company, 500 Packard Highway, LLC, bought the property in 2019 for just over $3.1 million. Marcus Braman, a consultant working with the company, declined to speak about the ...