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Humming the Wrong Tune

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posted on Jun, 11 2009 @ 08:04 AM
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Many of you may not know that certain models of Hummer are (or rather, were) built here in South Africa at a Port Elizabeth plant.
Now that a Chinese company, Sichuan Tengzhong Heavy Industrial Machinery had bought Hummer for $500 million, the plant will soon be closed putting many workers out of work.
The business is said to be moving to North America, and China will now have a viable business selling cars in the US - something they have cherished for a long time.

According to GMSA, the Chinese machinery company -- Sichuan Tengzhong Heavy Industrial Machinery Company, based in Chengdu, western China -- that has allegedly paid less than $500-million for Hummer is going to continue investing in and developing the brand. It will also be the only Chinese company to sell vehicles in North America, something the Chinese have been trying to do for a long time. Given the questionable track record of most Chinese carmakers on safety and reliability (the primary reason why they don't sell in North America and most European countries), I don't think Hummer has found the best foster parents in this new company, which isn't technically a carmaker yet. Tengzhong is said to manufacture road equipment, including road maintenance machinery and heavy-duty trucks.

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I do note that the military version of the Hummer, the Humvee has been excluded from the GM sale:

The U.S. Army is assuring people that General Motors' deal to sell its Hummer brand to a Chinese company has nothing to do with the military version of the rugged vehicle. Officials said some people called the Pentagon, Capitol Hill and AM General LLC, the company that makes the military vehicles, asking if the rights to the Humvee had been sold to the Chinese. Steve Clawson, spokesman for the South Bend, Ind.-based AM General, said the military and civilian programs are separate. "GM's proposed sale of the civilian Hummer brand would have no impact on the military Humvee program," he said.

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I would have been astounded if this had not been the case seeing as

a Chinese company with no experience building personal vehicles was able to buy Hummer




posted on Jun, 11 2009 @ 08:27 AM
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reply to post by deltaalphanovember
 





a Chinese company with no experience building personal vehicles was able to buy Hummer


The Chinese are excellent at this. My company was part of the auto/tire industry, and it was bought by a Chinese real estate investment corporation. Some old Chinese family corporations have been around for many centuries, and they buy and hold companies. They are very adept at spotting good opportunities, and demanding success from the companies they hold!

Sorry about your plant in S. Africa. This is being covered as a great thing here in the US. The MSM is all excited that the jobs will stay here, and not be sent to China.



posted on Jun, 11 2009 @ 08:32 AM
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reply to post by getreadyalready
 


Nevermind, we are just collateral damage in the "War on Global Prosperity" being waged by certain insane megalomaniacs.



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