coltfan,
The rear fenders are hard to find (and they seem to be prone to rust in the lower rear and where you describe). I do not think that reproduction fenders are being made, even in fiberglas. Maybe someone else will have better information.
The fender is the same on GMC and Chevrolet 1947.5-1955.5 Panel Truck, Suburban, and Canopoy Express (I am fairly certain).
Look back in this forum for a long discussion on converting a pick-up rear fender - my bet is that it is not an easy task, if it is possible at all. You might be better off trying to weld on a new mounting edge.
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Tim