Diversification
In 1960, the company began diversification efforts by buying:
- D. W. Onan & Sons - Generators & engines
- Cincinnati Testing Labs - Plastics Research
- Gering Plastics - Plastics Manufacture
- Clarke Floor Machine Company - Floor cleaners & buffers
- Gravely Tractors - Quality lawnmowers
- Chemical Compounds Company - Maker of STP additives
In 1961 Sherwood Egbert was appointed company president. He was expected to help diversify the company. In the spring of 1962, four years after the last Packard car rolled off the assembly line, and eight years following the merger between Packard and Studebaker, the company dropped 'Packard' from its legal name, which returned to being 'Studebaker Corporation'.
Read more about this topic: Studebaker-Packard Corporation