MAKE/MODEL


YEAR


ARTICLES

-
www.flickr.com
This is a Flickr badge showing public photos and videos from cartype.com. Make your own badge here.
CT Broadcast
Cartype on Kindle
Cartype on Twitter

RSS RSS FEEDS

Subscribe to our web feeds:

 
 

Sichuan Tengzhong withdraws its proposed acquisition of Hummer

Filed under:  Brand Related
 
Comment(s): 0
 
 

February, 2010.
Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd ("Tengzhong") has announced that it is withdrawing its proposed acquisition of HUMMER from General Motors, having been unable to obtain clearance of the transaction from the Chinese regulators within the proposed deal timeframe.


hummer type

Hummer logo.

Following talks with GM, both sides have decided to discontinue discussions on the transaction and terminate their definitive agreement.

Tengzhong is disappointed that the transaction cannot be further pursued, but the company respects the outcome. Tengzhong worked earnestly to achieve an acquisition that it believed to be a tremendous opportunity to acquire a global brand at an attractive price. The renewed investment to be made by Tengzhong and other investors would have provided HUMMER's existing management team the ability to build greener utility vehicles that would have been attractive and useful in new markets such as China as well as the existing core markets.

Tengzhong expressed its sincere thanks to GM for working diligently with the company. The company also expressed its gratitude and good wishes to HUMMER CEO Jim Taylor and the HUMMER team, as well as the 3,000 people who produce and support HUMMER.

(source: Sichuan Tengzhong)

RELATED ARTICLES
Sichuan Tengzhong   China.
Sichuan Tengzhong is the new owner of Hummer   
Hummer   
Hummer related emblems   
Hummer commercials   
Hummer HX : 2008   
Hummer H3T : 2004   350-horsepower, turbocharged version of GM''s new Vortec 3500 inline five-cylinder.
Hummer H4 : 2005   Beach Blanket Hummer.
Hummer H2 : 2003   (yes, I know it's big)
Hummer sale agreement reached   Deal could secure more than 3,000 jobs
Tengzhong In Advanced Talks To Purchase Hummer   
LINKS
Sichuan Tengzhong   Official site.
Hummer   Official site.
 
 
COMMENTS
There have been no comments
POST A COMMENT
Name
URL
Email
Comment
HTML tags allowed: <a> <em> <strong> <blockquote>
Spambots begone
ABOUT EDITORS CONTACT

CARTYPE STORE


Hummer H2
(Diecast Models)
-
Advertise on Cartype
-
Twitter Facebook Vimeo YouTube Flavors.me Flickr Kindle
-
-
Car Shipping Companies
Auto Transport Quotes
DIVIDER_large
-

CARTYPE STORE

Go Faster. The Graphic Design of Racing Cars. Cars That Matter Italian Racing Red Car Design Yearbook 1
-
-

NOTICE

Much of the material on this website is copyrighted. Original articles appearing herein are subject to copyright. Please don't copy stuff from the site without asking; it may belong to someone! Any trademarks appearing on this site are the sole property of the registered owners. No endorsement by trademark owners is to be construed. The products, brand names, characters, related slogans and indicia are or may by claimed as trademarks of their respective owners. Every effort has been made whenever possible to credit the sources. The use of such material falls under the Fair Use provisions of intellectual property laws.