Bank Of Baku

US sells Hummer brand to China - PHOTO

US sells Hummer brand to China - <font color=red>PHOTO</font>
# 10 October 2009 11:18 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. China’s Sichuan Tengzhong Heavy Industrial Machinery Co. agreed to buy the Hummer brand from General Motors Corp.. , adding sport-utility vehicles to a product lineup that includes bridge parts and construction equipment.
According to APA-Economics, the Chinese company purchased Hummer brand, trade marks, as well as patented license for its production.
The sale is worth $150 million.
GM is shutting Saturn and Pontiac and is close to a deal with Sweden’s Koenigsegg Group to acquire the Saab brand.
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