Chinese Company Buys Hummer

By: AP Email
By: AP Email

DETROIT (AP) - China's Sichuan Tengzhong Heavy Industrial
Machinery says it plans to buy General Motors' Hummer brand for an
undisclosed sum.
Tengzhong is a privately held maker of road, construction and
energy industry equipment based in the Chinese province of Sichuan.
As part of the deal, the company is expected to sign a long-term
contract assembly and component and material supply agreement with
GM.
If the deal is successful, GM says it expects it to save about
3,000 jobs.
Hummer will keep its existing management team and remain based
in the United States. Tengzhong says it expects to expand the
brand's dealer network worldwide, especially to China.


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