China Humming a Tune
Jun 3rd, 2009 by The Outsider
The General Motors “Hummer” division has struck a deal to put China’s Tengzhong Heavy Equipment company in ownership of Hummer. Supposedly, the management and workers, along with the plant, will remain in the U.S. The final contract will be ironed out and may be accepted by September.
Is this the beginning of our auto manufacturing collapse?
From Stifel Nicolaus:
“James Taylor, CEO of Hummer, said: “Today Hummer is a globally recognized brand with excellent growth prospects, both in terms of new markets and new products for our existing markets. With Tengzhong’s investment and strong support, we will be able to make our visions a reality.”