Posted on 06/02/2009 4:50:49 AM PDT by Zakeet
General Motors Corp. said Tuesday that it has signed a deal to sell its Hummer truck unit, just one day after filing for bankruptcy.
But GM would not identify the buyer nor name a price, saying only that the deal would close by the end of September.
"I'm confident that Hummer will thrive globally under its new ownership," said Troy Clarke, president of GM North America, in a press release. "And for GM, this sale continues to accelerate the reinvention of GM into a leaner, more focused, and more cost-competitive automaker."
As part of the deal, some GM plants will continue to build the Hummer brand for the new owner, at least for a while. The company said its Shreveport, La. plant will keep building Hummers for the new owner until at least 2010.
(Excerpt) Read more at money.cnn.com ...
Yep. I heard on Fox news this moring that Kadaffi is a big player with Fiat.
Oy veh.
Heard the other day that the Penske group was interested. Can you imagine, a Hummer built like an Indy car (or vice versa)? :-)
The list, ping
I’m hoping that Saturn will be bought too!
Rush just announced that Hummer was sold to the Chinese. Hummer is done.
If true the fedgov should block the sale or cancel their military contracts.
Seriously - we want Soldiers and Marines charging into battle using Chinese equipment?
I don’t think so!
Homey don’t play ‘dat.
My understanding is that the sale only includes commercial vehicles on GM truck platforms, not the military vehicles. Two entirely different platforms. I hope I’m correct.
Ditto - I hope you are correct also.
China already has the DongFeng (yes, it is really spelled that way)
see http://www.chinacartimes.com/2007/08/21/dongfeng-makes-the-crazy-soldier-ready-for-civillian-use/ for fotos.
Should be for sale in the US late next year.
Is an American paycheck for building a small car ok, but not paycheck for building a big car?
UAW won’t let that happen!
Thanks.
The Chi-Coms bought Hummer..
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