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GM says Hummer talks are ‘on track’
GM says Hummer talks are ‘on track’
Posted Wednesday, Oct 7, 2009, 2:03 pm in Employee News
General Motors Co. said talks to sell the Hummer line of sport-utility vehicles to Sichuan Tengzhong Heavy Industrial Machinery Co. remain “on track” despite the fact that the companies didn’t conclude the deal in the third quarter, Bloomberg reported.
“The parties have been in frequent discussions working closely to finalize a definitive agreement,” Hummer CEO Jim Taylor said in an e-mailed statement. “Talks are on track. It would be inappropriate to comment further until an agreement is reached.”
GM and Tengzhong had planned to close the deal in the third quarter, the companies said when they announced the pact on June 2, the Bloomberg report said. Executives from Tengzhong arrived in Detroit on Sept. 30 to complete negotiations, said a person familiar with the talks told the news service. GM hopes to complete the sale by the end of the year, Treasurer Walter Borst said.(Bloomberg)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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