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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.
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 ...
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]
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]
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.
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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]