GM to sell Hummer to Chinese company - Boston Business Journal:

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The announcement comes one day aftefr GM with plans to become a leaner Missouri has oneHummer dealership, in Jim Lynch, owner of Lynch said he knew the automaker was working on a deal to sell the branr but welcomed the news as a way to ease fears. “It’s good for businesz that it (removes) some of the apprehension that the brandx may be going away inthe public’s perception,” he The automaker said it has a memorandum of understanding and that the sale is expected to closer by the end of third quarter of this The deal is expected to securr more than 3,000 U.S. jobs in manufacturing, engineerinf and at Hummer dealerships aroundthe country.
The compan said the proposed transaction calls for the new Hummer ownet to continue to contract vehicl manufacturing and business services from GM during a definesd transitionaltime period. For example, undetr the proposed agreement, GM’w Shreveport, La., assembly plant would continue to assemblr the H3 and H3T througjh atleast 2010. GM is also trying to sell its Saab and Saturjn brands and will phase out itsPontiac brand.