General Motors Co. and Sichuan Tengzhong Heavy Industrial Machinery Corp. finally signed the much-anticipated deal to sell the brand today.
Tengzhong will get an 80 percent stake in the company, while Hong Kong investor Suolang Duoji, who indirectly owns a large stake in Tengzhong through an investment company called Sichuan Huatong Investment Holding Co., will get 20 percent. The investors will also get Hummer’s nationwide dealer network.
Hummer’s Shreveport LA plant is set to produce the vehicles through 2011, so the likelihood is closure by the commies in 2012, according to reports. There is no truth to rumors that the brand name will be changed to “Hummel”, as that is already trademarked by a figurine outfit.