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The Chinese plan to increase the brand's international presence

DailyTech reported yesterday on GM's announcement that it had found a buyer for the Hummer brand of heavy utility vehicles.  The mystery buyer promised to take on the brand and help expand its international presence.  In the process it saved a number of jobs at Hummer plants and helped GM complete a major step toward moving out of bankruptcy.

Now the identity of the mystery buyer has been revealed.  Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., a Chinese industrial firm, will be purchasing the brand and attempting to revive it.

States Yang Yi, chief executive of Tengzhong, "We plan to ... allow Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team."

He did, however, hint at changes stating that the deal "will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."

The companies hope to have the deal finalized by September.  The deal does not concern the military Hummer technology owned by defense contractor AM General, which licensed the brand name to GM for civilian vehicle purposes.  AM General will now, in turn, license the name to Sichuan Tengzhong, which will continue the civilian Hummer development.

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RE: Military
By Brutus1234 on 6/3/2009 8:29:19 PM , Rating: 4
For your information, I'm not Union.

I have an engineering degree, I have an MBA
I speak 4 languages and hold 3 active citizenships.
I chose to be American ( that's the one I'm proudest of )
The other 2 I was born into.

I've been in more countries and more manufacturing facilities than I can remember to count.

Every day I shut down companies who are working their asses off to compete. Even in these circumstances these people are professional and honorable in their actions. Unlike the Chinese companies who close their doors and don't bother to tell you.

I've personally negotiated agreements that put approx 10000 people out of work.

Yes I have some emotion behind my comments

"I modded down, down, down, and the flames went higher." -- Sven Olsen

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