MOTOR MERGER IN U.S.

Press, Volume XC, Issue 27395, 7 July 1954, Page 13

MOTOR MERGER IN U.S.

NEW 500.000.000-DOLLAR COMPANY merger . two big American “otor companies—Packard and Studeto the .Studebaker-Packard 3MSmnnn° n A n With assete totalling 300,000,000 dollars was “practically a sure thing,” said Mr Dewey W. Snnth ffW 1 expor ‘ dl ™ hl Corporation, when at Harewood by Tasman Empire Airways DC-6 yesterday morn‘■p e “Ofger Will be officially voted on .hy. stockholders on August 17” he bu t that is only a formality. The boards of directors of both organisations have approved of it” 6 The new organisation, with seven factories (five Studebaker and two Packard), and about 40,000 employees,

b . e - the fourth largest motor C °S P ? ny in J he w °rid Ch"sle? 1 Motors ’ F °rd f - and "We have got to get bigger so we we hoi h ett h r price s on the 8 materials wc b “y by buying larger quantities?' said Mr Smith when he was asked for the reasons for the merger. “Tooling fhi tS + Wlll ? e down and we will be able to produce more cheaply.” T fie new combined organisation would be able to offer to the public a range of cars from low price to high Sii 1 nt e, -»is» C ' P l 6 Studebaker proof toe scml at low-priced end