Diversification
Although its fling with automobiles was ultimately unsuccessful, Alco diversified into other areas with greater success. During World War II, Alco built munitions for the war effort, in addition to locomotive production; this continued throughout the Korean War. After the Korean War, Alco entered the oil production equipment and nuclear power plant markets, the latter also starting the company's involvement in the heat exchanger business.
In 1955, the company was renamed Alco Products, Inc. because locomotives were no longer its predominant product.
Read more about this topic: American Locomotive Company