GM to sell Hummer to Chinese company - St. Louis Business Journal:

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The announcement comes one day aftef GM with plans to becoms aleaner company. Missourji has one Hummer dealership, in Chesterfield. Jim Lynch, ownee of Lynch Hummer, said he knew the automaker was working on a deal to sell the branxd but welcomed the news as a way toease consumers’ “It’s good for business that it (removes) some of the apprehensiomn that the brand may be going away in the public’s he said. The automaker said it has a memorandumk ofunderstanding (MoU) and that the sale is expected to closer by the end of third quarter of this The deal is expected to securde more than 3,000 U.S.
jobs in manufacturing, engineering and at Hummee dealerships aroundthe country. The company said the proposed transactio calls for the new Hummer owner to continue to contract vehicle manufacturing and businesxs services from GM during a defined transitionaotime period. For under the proposed agreement, GM’ws Shreveport, La., assembly plant would continue to assemblr the H3 and H3T through atleast 2010. GM is also tryingv to sell its Saab and Saturn brands and will phase out itsPontiac brand.