The Kughn era By the mid 1980s, it was selling off these properties. Kughn ended General Mills experiments with manufacturing in Mexico, moved production to Detroit, and modernized the product line. Kughn died in 2019 and is generally credited with saving Lionel.
What musician owns Lionel trains?
Neil Young Wellspring Associates, an investment firm whose partners include rock and roll singer Neil Young and investor Martin S. Davis, said today it will buy Lionel Trains Inc., the worlds largest maker of toy trains, from Detroit businessman Richard P. Kughn. The purchase price was not disclosed.
Who founded Lionel trains?
Joshua Lionel Cowen 1900s: Beginnings. Youthful inventor Joshua Lionel Cowen wasnt the first to manufacture toy trains. But his talents as an engineer and salesman soon put Lionel ahead of its competitors. Cowen designed his first train, the Electric Express, not as a toy, but as an eye-catching display for toy stores.
Is the Lionel train company still in business?
In 1969, they sold their model train lines to General Mills, but continued to operate until 1993 as a holding company for their toy stores. Its model trains are still in production as a separate company .Lionel Corporation.Lionel logo on a box from the 1950sTypePublic companyFounded1900Defunct1993Fatesold rights, Liquidation5 more rows
When did Lionel stop making trains in USA?
1939 Sales dropped for the toy manufacturer early in the Depression, and the company responded by shifting production to lower-cost items, particularly to the smaller “O” gauge trains. Customers reacted favorably, and by 1939 Lionel had completely discontinued production of its standard gauge, three-rail trains.
Why did Lionel trains have 3 rails?
Lionel used the center rail for power and the two outer rails for ground. For example, with a three-rail system, the track can loop back on itself without any issues. A two-rail system has to reverse the polarity in order to avoid a short circuit in that situation. In 1906, there was no good, easy way to do that.