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General Motors has reached agreement for the sale of its Hummer brand to a machinery company in western China, a person familiar with the process told The New York Times on Tuesday.
The Sichuan Tengzhong Heavy Industrial Machinery Company Ltd. concluded the agreement with G.M. according to The Times’s Keith Bradsher and Nick Bunkley.
Industry analysts have estimated that the Hummer division would sell for less than $500 million.
Originally posted by 27jd
If we get any more spit in our faces, we're going to drown in it. But it seems to be a guarantee that it will continue, every day something new and more outrageous than the last is brought to light. What's next?
"Obama says Iran's energy concerns legitimate"
"EU's Energy Policy a 'Big Failure'"