Chinese Company Identified as Hummer Buyer

By: Associated Press
By: Associated Press

A person briefed on the deal says General Motors Corp. has a tentative agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. of China.

GM announced Tuesday that it has a memorandum of understanding to sell the brand of rugged SUVs, but the company didn't disclose the buyer.

A formal announcement of the buyer's identity was to be made Tuesday afternoon.

Sichuan Tengzhong deals in road construction, plastics, resins and other industrial products, but the person briefed on the deal says Hummer would be its first step into the automotive business. The person spoke on condition of anonymity because the details have not been made public.


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