"So Long" to the Hummer, may the Chinese make you more efficient. Please leave out the lead though.
Today, a statement was released by General Motors which outlines the potential acquisition of the HUMMER brand by Chinese manufacturing company, Tengzhong Heavy Industrial Machinery Co., Ltd. With the deal, Tengzhong will not only retain the Hummer brand, but will bring along with it the senior management and operational team, along with the existing dealer agreements.
“Based in the Chinese province of Sichuan, Tengzhong is a privately-owned company and a leading domestic manufacturer of road, construction and energy industry equipment. It will expand into the premium off-road vehicle segment through what will be a strategic acquisition for Tengzhong and a catalyst for HUMMER’s growth in the U.S. and around the world.”
Is it just me, or does the expertise of a foreign manufacturer of road construction equipment lend itself to the Hummer brand? I hope this isn’t the result of GM’s post-bankruptcy-filing-hangover. According to the press release made available by GM, the new deal, if it goes through will save 3,000 American jobs. So, how do you say Hummer in Chinese?
Oh, by-the-way Citi is serving as the financial advisor to GM. Kind of like the bling leading the blind, huh?
