Hummer brand sold to Chinese manufacturer

Nitin · 10th October 2009, 01:16

Iconic Hummer brand sold to Chinese manufacturer - Yahoo! Finance

General Motors Co. and Sichuan Tengzhong Heavy Industrial Machinery Corp. finally signed the much-anticipated deal to sell the brand on Friday.
Tengzhong will get an 80 percent stake in the company, while Hong Kong investor Suolang Duoji, who indirectly owns a big stake in Tengzhong through an investment company called Sichuan Huatong Investment Holding Co., will get 20 percent. The investors will also get Hummer's nationwide dealer network.
Financial terms were not disclosed, although a person briefed on the deal said the sale price was around $150 million. The person did not want to be identified because the terms were being kept private. GM's bankruptcy filing last summer said that the iconic brand with military roots could bring in $500 million or more.

AbhiJ · 10th October 2009, 01:21

Great!!

The hummer will now be 80% plastic and be available for 8 lacs!!

:P

akshay4587 · 10th October 2009, 01:43

Quote:

Originally Posted by AbhiJ

Great!!

The hummer will now be 80% plastic and be available for 8 lacs!!

:P

Add to list it will breakdown at a pothole

On a serious note i think this has been posted here before.

Nitin · 10th October 2009, 02:01

Quote:

Originally Posted by akshay4587

Add to list it will breakdown at a pothole

On a serious note i think this has been posted here before.

Is that so? I remember seeing a thread talking about the possible sales, but couldn't find the same when I searched for it.
MODS: please merge the threads if another such thread exits.

Rudra Sen · 10th October 2009, 07:58

Old news. Discussed here.

Thread closed.

10th October 2009, 01:16	#1
Nitin Senior - BHPian Join Date: May 2006 Location: Houston, Texas Posts: 3,294 Thanked: 20 Times View My Garage	Hummer brand sold to Chinese manufacturer Iconic Hummer brand sold to Chinese manufacturer - Yahoo! Finance General Motors Co. and Sichuan Tengzhong Heavy Industrial Machinery Corp. finally signed the much-anticipated deal to sell the brand on Friday. Tengzhong will get an 80 percent stake in the company, while Hong Kong investor Suolang Duoji, who indirectly owns a big stake in Tengzhong through an investment company called Sichuan Huatong Investment Holding Co., will get 20 percent. The investors will also get Hummer's nationwide dealer network. Financial terms were not disclosed, although a person briefed on the deal said the sale price was around $150 million. The person did not want to be identified because the terms were being kept private. GM's bankruptcy filing last summer said that the iconic brand with military roots could bring in $500 million or more.
	() Thanks

10th October 2009, 01:21	#2
AbhiJ Senior - BHPian Join Date: Jun 2008 Location: Kolkata Posts: 1,476 Thanked: 1,207 Times	Great!! The hummer will now be 80% plastic and be available for 8 lacs!! :P
	() Thanks

10th October 2009, 07:58	#5
Rudra Sen Team-BHP Support Join Date: Apr 2004 Location: Bangalore Posts: 11,590 Thanked: 6,532 Times View My Garage	Old news. Discussed here. Thread closed.
	() Thanks