Chinese Machinery Firm to Buy Hummer

Company aims to become carmaker
By Matt Cantor,  Newser User
Posted Jun 2, 2009 12:44 PM CDT
Hummers on the lot at Tustin Hummer, a dealership in Tustin, Calif., yesterday.   (AP Photo)
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(Newser) – After General Motors announced a plan to sell the brand, the identity of Hummer’s buyer has emerged: It’s a Chinese machinery firm that aims to become an automaker, an insider tells the New York Times. GM’s deal with the Sichuan Tengzhong Heavy Industrial Machinery Company was subject to Beijing’s scrutiny. The firm builds road equipment but has lately been working on trucks.

“If you think about the qualities we’d want in a new owner for the brand, this buyer really met all the criteria. They’ve got a proven track record in international business, and they’ve got a long-term vision for the brand,” said a Hummer spokesman. The brand is to remain based in the US, GM said.