2 major mergers in 1954
DETROIT - Two old-line competitors in the auto business will become partners Saturday, May 1, when Nash-Kelvinator Corp. and Hudson Motor Car Co. formally begin joint operations as American Motors Corp.
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George W. Mason, president and chairman of Nash-Kelvinator, will hold the same posts with AMC.
NEW YORK - Under the Studebaker-Packard consolidation, separate dealer and sales staffs will be retained, although some dualing of dealers and expansion of the dealer networks is planned.
Stockholders will vote Aug. 17 on the agreement approved here by directors June 22 to combine the two companies into Studebaker-Packard Corp.
James Nance, Packard president, will be president and CEO of the new corporation, and Paul Hoffman, Studebaker chairman, will be chairman.
PERSPECTIVE 2000
The Studebaker-Packard merger did not fare well. Packard died in 1957; Studebaker perished 10 years later.
AMC thrived in the early 1960s with its compact Rambler, which succeeded the Nash and Hudson brands, and 1972 and 1973 were good years. But AMC barely was hanging on when it was purchased by Chrysler Corp. in 1987. Chrysler bought AMC to get Jeep, which AMC had acquired in 1970.
