NY Times - GM sells Hummer brand to Chinese company

http://www.nytimes.com/2009/06/03/bu...&ex=1244174400
&en=b5c37ec88313a338&ei=5087

By KEITH BRADSHER and NICK BUNKLEY
Published: June 2, 2009

General Motors has reached a preliminary agreement for the sale of its
Hummer brand of large sport utility vehicles and pickup trucks to a
machinery company in western China with ambitions to become a carmaker.

The buyer is the Sichuan Tengzhong Heavy Industrial Machinery Company,
based in Chengdu, G.M. said Tuesday. The price was not disclosed, but
industry analysts had estimated that the Hummer division would sell for
less than $500 million.

The deal, expected to close in the third quarter, would make Tengzhong the
first Chinese company to sell vehicles in North America, though Hummer’s
operations would remain in the United States.

(snip)

On Jun 3, 12:57*am, "Speeders & Drunk Drivers are MURDERERS"
> wrote:
> http://www.nytimes.com/2009/06/03/bu...&ex=1244174400
> &en=b5c37ec88313a338&ei=5087
>
> By KEITH BRADSHER and NICK BUNKLEY
> Published: June 2, 2009
>
> General Motors has reached a preliminary agreement for the sale of its
> Hummer brand of large sport utility vehicles and pickup trucks to a
> machinery company in western China with ambitions to become a carmaker.
>
> The buyer is the Sichuan Tengzhong Heavy Industrial Machinery Company,
> based in Chengdu, G.M. said Tuesday. The price was not disclosed, but
> industry analysts had estimated that the Hummer division would sell for
> less than $500 million.
>
> The deal, expected to close in the third quarter, would make Tengzhong the
> first Chinese company to sell vehicles in North America, though Hummer’s
> operations would remain in the United States.
>
> (snip)

So? We've been giving our manufacturing away for decades.