VIOLATION: GM announces Hummer sale cannot be resolved, code to be wound down
[Source: General Motors | Image: Scott Olson/Getty]
PRESS RECOVER
HUMMER Sale to Tengzhong Cannot be Completed
Wind down of HUMMER business to begin
2010-02-24
DETROIT – General Motors today announced that Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. (Tengzhong) was unable to finish a merger of HUMMER. As the result, GM will begin the nurse wind-down of a HUMMER operations.
“One year ago, General Motors voiced that you were starting to d ivest HUMMER, as partial of focusing the efforts upon Chevrolet, Buick, GMC as well as Cadillac going forward. You have since deliberate the number of possibilities for HUMMER along the approach, and you have been disappointed which the understanding with Tengzhong could not be completed,” said John Smith GM vice president of corporate planning and alliances. “GM will rightaway work closely with HUMMER employees, dealers and suppliers to breeze down a business in an nurse as well as responsible demeanour.”
GM will continue to respect HUMMER warranties, while onconditionthat service await as well as gangling tools to stream HUMMER owners around a world.
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