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10-08-2009, 06:48 PM
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Hummer Professional
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Join Date: Oct 2007
Location: Sarasota
Posts: 346
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Hummer Signing Today
Oct 8, 1:18 PM EDT
AP Source: GM nearing completion of Hummer sale
By TOM KRISHER
AP Auto Writer
DETROIT (AP) -- A person briefed on the matter says General Motors Co. is expected to sign a deal to sell its Hummer brand to a Chinese heavy equipment manufacturer as early as Thursday afternoon.
The person says GM and Sichuan Tengzhong Heavy Industrial Machinery Corp. are preparing to sign a definitive sales agreement for the iconic off-road brand. The person did not want to be identified because the deal has not been finalized.
The purchase price was not known, but GM said in its bankruptcy filing that Hummer might bring $500 million or more.
GM spent 40 days in bankruptcy protection during the summer and has received about $50 billion in U.S. government aid. The company is selling or scrapping brands to focus on Chevrolet, Cadillac, Buick and GMC.
__________________
2009 H2 Hummer It's here!!
2006 H2 Hummer Gone and missed
1998 993 Porsche Twin Turbo (Last one made)
2006 Baja Performance 88 MPH
2008 GT2 Porsche
2009 DBS
"I object and take exception to everyone saying Obama and Congress are spending money like a drunken sailor. As a former drunken sailor, I quit when I ran out of money"
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10-09-2009, 05:00 AM
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Hummer Authority
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Join Date: Nov 2004
Location: Little Rock, Arkansas
Posts: 1,784
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Re: Hummer Signing Today
I think I saw scrolling across bottom of Fox News Neil Cavuto Show selling price was 150 million. I have not had time to double check this as I was on phone call with IRS as I was trying to read the scrolling and I forgot about it until just now reading this post.
TAZ
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05 H2 SUV cus. paint, Magnuson SC 6/12lb boost, cowl hood scoop, 12" dash touchscreen, GM elec. fans, HPTuners.com tuning soft., Dynatech headers dual catback exhaust Jet Hot chrome front to back Flowmaster Super 40's, Diamo 8 Karat rims & 325X60-20" Toyo, 4 OEM Captain seats Katzkins leather, rear console computer inside running all AV/NAV etc., Infinity component system 3 amps Tsunami Caps, rear flip down 12" monitor, headrest monitors, overhead console boost, fuel pressure, & A/F ratio gauges
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10-09-2009, 06:48 AM
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Hummer Guru
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Join Date: Nov 2004
Location: Winnipeg, Manitoba - Canada
Posts: 2,726
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Re: Hummer Signing Today
Quote:
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Originally Posted by HUMMERcustoms.com/TAZ
I think I saw scrolling across bottom of Fox News Neil Cavuto Show selling price was 150 million. I have not had time to double check this as I was on phone call with IRS as I was trying to read the scrolling and I forgot about it until just now reading this post.
TAZ
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GULP......IRS......   
__________________
BLACK \'04 H2 LUX
BLACK \'07 ESCALADE
I have BLING & am PROUD OF IT!
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10-09-2009, 07:43 PM
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Hummer Professional
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Join Date: Sep 2007
Location: NH
Posts: 370
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Re: Hummer Signing Today
GM signs deal to sell Hummer brand
DETROIT ? Hummer, the off-road vehicle that once was a symbol of America's love for hulking trucks, is now in the hands of a Chinese heavy equipment maker.
General Motors Co. and Sichuan Tengzhong Heavy Industrial Machinery Corp. finally signed the much-anticipated deal to sell the brand on Friday, according to a joint statement issued by both companies.
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.
He also is the controlling shareholder and chairman of Lumena Resources Corp., a Hong Kong listed mining company.
Financial terms were not disclosed, although a person briefed on the deal said the sale price was around $150 million. GM said in its bankruptcy filing last summer that the iconic brand could bring in $500 million or more.
The person did not want to be identified because the terms were being kept private.
The investors also will get Hummer's nationwide dealer network.
GM and Tengzhong said in a statement that the transaction still must be approved by U.S. and Chinese regulators.
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10-09-2009, 08:28 PM
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Hummer Messiah
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Join Date: Nov 2002
Location: PDX
Posts: 2,367,817
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Re: Hummer Signing Today
CAN I GET AN HX NOW?
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10-09-2009, 09:11 PM
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Hummer Veteran
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Join Date: Jun 2006
Posts: 45
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Re: Hummer Signing Today
GREAT NEWS!!!!!!
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10-09-2009, 09:23 PM
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Hummer Professional
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Join Date: Sep 2007
Location: NH
Posts: 370
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Re: Hummer Signing Today
Last edited by s_c5519 : 10-10-2009 at 01:42 AM.
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10-09-2009, 11:12 PM
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Hummer Expert
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Join Date: May 2007
Location: PHOENIX AZ
Posts: 681
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Re: Hummer Signing Today
great news but ,it's going to be hell getting a chinese company to live up to a warentee . 
__________________
A government big enough to
give you everything you want, is
strong enough to take everything
you have.
-- Thomas Jefferson
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10-10-2009, 12:40 AM
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Hummer Authority
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Join Date: Jun 2005
Location: Key Largo
Posts: 1,174
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Re: Hummer Signing Today
GREAT NEWS! OK, start building my 2010 H2! Will we finally see the black chrome edition and the yellow color return to the H2?
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10-10-2009, 02:41 AM
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Hummer Authority
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Join Date: May 2006
Location: South Western PA
Posts: 1,433
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Re: Hummer Signing Today
Saw it on the national news, old Brian Williams said Hummer was sold to them. Only thing he said was they were keeping the HQ in the Detriot area.
__________________
2009 H2 Silver Ice LE
2008 H2 Lux Series, Slate Blue, everything but the air suspension - sold
2006 H2 Lux Series, Uplevel Chrome, DVD's, Slate Blue, Sun Roof - sold
"If Life Gives You Limes, Make Margaritas" - Jimmy Buffett
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10-10-2009, 05:32 AM
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Hummer Professional
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Join Date: Jul 2009
Location: Franklin, TN
Posts: 380
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Re: Hummer Signing Today
Quote:
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Originally Posted by HummerJim
GREAT NEWS! OK, start building my 2010 H2! Will we finally see the black chrome edition and the yellow color return to the H2?
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they actually made like 5 black chrome editions in 09 i saw one on ebay a month or so ago. it looked sweet IMO
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06' black H2 SUV. Truxxx Leveled. 17" XD Addicts. 37" SS M16's. Gobi. DEMONguard. Magnaflow. way to many other things to list...
73' Dodge Charger. 400 Magnum. B5 Blue. White Leather.
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10-11-2009, 04:00 AM
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Hummer Guru
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Join Date: Nov 2004
Location: Winnipeg, Manitoba - Canada
Posts: 2,726
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Re: Hummer Signing Today
__________________
BLACK \'04 H2 LUX
BLACK \'07 ESCALADE
I have BLING & am PROUD OF IT!
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10-11-2009, 11:56 PM
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Hummer Guru
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Join Date: Oct 2005
Location: Charlotte, NC
Posts: 2,767
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Re: Hummer Signing Today
Yeah, those numbers sound right... borrowed 50 BILLION for bankruptcy and sold Hummer for 150 million.
No wonder the fukkin idiots went bankrupt.
Mark
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10-19-2009, 01:47 PM
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Hummer Professional
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Join Date: Sep 2007
Location: NH
Posts: 370
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Re: Hummer Signing Today
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