The underlying financial strength – and global aspirations – of Chinese heavy industry manufacturing companies was underlined this week, when a relatively unknown Chengdu-based company, Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd, announced a preliminary agreement to purchase troubled US automaker’s GM’s highly-cherished Hummer vehicle brand.
The deal caught many China-watchers off-guard, as many analysts were expecting a Chinese car brand, not a heavy industry company, to become the first Chinese purchaser of a U.S. auto brand and manufacturing and distribution capabilities.
To read more about the deal, visit:
http://www.bizchina-update.com/content/view/2287/2/
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on Monday, June 15th, 2009 at 12:22 pm and is filed under News commentary.
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Chinese Manufacturer Signs MOU to Buy GM’s Hummer Brand
The underlying financial strength – and global aspirations – of Chinese heavy industry manufacturing companies was underlined this week, when a relatively unknown Chengdu-based company, Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd, announced a preliminary agreement to purchase troubled US automaker’s GM’s highly-cherished Hummer vehicle brand.
The deal caught many China-watchers off-guard, as many analysts were expecting a Chinese car brand, not a heavy industry company, to become the first Chinese purchaser of a U.S. auto brand and manufacturing and distribution capabilities.
To read more about the deal, visit:
http://www.bizchina-update.com/content/view/2287/2/
This entry was posted on Monday, June 15th, 2009 at 12:22 pm and is filed under News commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.