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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.
The 1957 and 1958 Packard lineup of automobiles were based on Studebaker models: restyled, rebadged, and given more luxurious interiors. After 1956 production, the Packard engine and transmission factory was leased to the Curtiss-Wright Corporation while the assembly plant on Detroit's East Grand Boulevard was sold, ending the line of Packard-built cars.
The new model Nance hoped for was delayed until 1955, partially because of Packard's merger with Studebaker. Packard stylist Dick Teague was called upon by Nance to design the 1955 line, and to Teague's credit, the 1955 Packard was well received. Not only was the body completely updated and modernized, but the suspension was new, with torsion ...
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.
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 ...
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.
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 ...
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 ...