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10-13-2009, 01:31 AM
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Hummer Guru
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Recork the Champagne? China says Hummer paperwork not submitted yet
Recork the Champagne? China says Hummer paperwork not submitted yet
by Jonathon Ramsey ( RSS feed) on Oct 12th 2009 at 4:29PM
2008 Hummer HX concept ? Click above for high-res gallery
Last week, it was reported that General Motors had signed a definitive agreement to sell Hummer to Chinese machinery manufacturer Tengzhong. The Chinese company and its partner in the deal, Lumena Resources Corp., would pay $150 million and receive Hummer and its intellectual property, ownership of U.S. franchise agreements, and manufacturing, business, and component assistance during a four- or five-year transition period.
The questions being raised now concern what is happening on the other side of the Pacific. The Chinese Commerce Ministry reportedly hasn't received Tengzhong's application to officially bring Hummer home, which has led observers to wonder if there will be a holdup or reversal of the deal. According to a Hummer representative, however, Tengzhong had to finalize the deal with GM before it could present it for approval to the Chinese authorities:
The closing of the transaction is subject to customary closing conditions and regulatory approvals and/or review by agencies in China and the U.S. Tengzhong has started communicating with the relevant regulatory bodies and will continue to support the application process in accordance with the requirements. Formal engagement was only able to begin with the signing of the definitive agreement.
If all goes well, Tengzhong hopes to have the deal closed by early 2010.
http://www.autoblog.com/2009/10/12/r...not-submitted/
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10-13-2009, 08:38 PM
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Re: Recork the Champagne? China says Hummer paperwork not submitted yet
Going to China is better than going the way of Saturn 
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10-14-2009, 05:26 PM
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Re: Recork the Champagne? China says Hummer paperwork not submitted yet
Quote:
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Originally Posted by wpage
Going to China is better than going the way of Saturn |
And Oldsmobile and Pontiac
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09-15-2010, 03:24 PM
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Re: Recork the Champagne? China says Hummer paperwork not submitted yet
Maybe the IPO will renew the Hummer brand...
__________________
"For God so loved the world he gave his only son that whoever believe in him would not perish but have everlasting life. "
(John 3:16)
2006 H3 Slate Blue,Header,Jacked,CAI,Toyo35's,HHO.
Priors...
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10-04-2010, 11:25 PM
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Re: Recork the Champagne? China says Hummer paperwork not submitted yet
Quote:
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Originally Posted by wpage
Maybe the IPO will renew the Hummer brand...
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IF the IPO does happen all it will be is a payback to Obastard and the unions.  |
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Recork the Champagne? China says Hummer paperwork not submitted yet
