Wednesday, June 3, 2009

Hummer sold to China's Sichuan Tengzhong - Jacksonville Business Journal:

I ask will Korea be buying Saturn, Russia be buying Cadillac? As far as trucks go, who needs them, we have no jobs for them to take us to!!!! Hummer reportedly to be sold to China's Sichuan Tengzhong - Jacksonville Business Journal:: "General Motors has found a buyer for Hummer, a brand that was once a must-have accessory for the rich, but that came to symbolize the company's (not to mention the nation’s) attachment to gas-guzzling mega machines. And the buyer, the New York Times reports, is a machinery company in western China, The Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., based in Chengdu. The Times cited an anonymous source after GM kept details of the deal very much hush hush. The Chinese company will buy a brand that started as the military’s Humvee and morphed into a civilian dream machine. But GM is saying that the sale could save more than 3,000 U.S. jobs in manufacturing, engineering and at Hummer dealerships around the country. And it says the deal is expected to close by the end of the third quarter. GM claims in its release that the buyer will “aggressively fund future Hummer product programs.” GM will also keep building Hummers for the Chinese company, on a contract basis. That means that GM’s assembly plant in Shreveport, La., will continue to contract assemble H3 and H3T through at least 2010.’s Mike Levine reports that, “The buyer has a proven track record in international business, knows the H"

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