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Shreveport, LA mayor lobbies D.C. to close the HUMMER deal, already


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Cedric Glover, the mayor of Shreveport, Louisiana, went to Washington, D.C. to plead his case for the sale of Hummer to Tengzhong. The only thing is, we’re not sure why he went. To be more precise, we do know that he wants to protect jobs at GM’s Shreveport plant that builds Hummers. The plant has about 800 workers who build some of The General’s pickup trucks and Hummer models, and the loss of The Big H would undoubtedly put people out of work.

What we’re not sure of is what he thinks Washington has to do with it. He did ask that a couple of D.C. muckety-mucks “consider reaching out to the Chinese government to urge immediate approval of the Hummer deal,” but Washington hasn’t expressed any opposition to the deal and probably couldn’t get the deal concluded on the Chinese side any sooner — never mind the fact that Hummer is the least of Washington’s concerns as far as China goes.

We’ve been told by one source at Hummer that although nothing is final until it’s signed, they feel good about the deal, and Tengzhong must have known what it was doing when it made the bid in the first place. Yet beyond all that, as it stands today the Shreveport plant has three years to live at most: the facility wasn’t part of the Hummer sale, and GM said it would shutter the place by 2012 at the latest. Mayor Glover wants to save jobs in his town, which is great, but unless GM starts going gangbusters (and soon) then Glover could be playing the Deck Chair and Sinking Ship game.

[Source: HummerGuy]

Shreveport, LA mayor lobbies D.C. to close the HUMMER deal, already originally appeared on Autoblog on Sat, 24 Oct 2009 14:16:00 EST. Please see our terms for use of feeds.

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Shreveport, LA mayor lobbies D.C. to close the HUMMER deal, already

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REPORT: Sichuan Tengzhong to finalize Hummer deal in third quarter, keep U.S. production?


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2008 Hummer HX Concept – click above for high-res gallery

According to Automotive News, the deal between General Motors and Sichuan Tengzhong Heavy Industrial Machinery to offload Hummer should be complete by October. A statement made by STHIM’s general manager, Yang Yi, further suggests that the Chinese company has no plans to export Hummer’s equipment and/or technology to its home market, meaning that the truck brand’s offerings should remain North American produced for the foreseeable future.

The details for Sichuan Tengzhong’s winning bid for Hummer have not been disclosed, but according to AN, investment bankers are suggesting that the deal was likely brokered for around $100 million in cash, and Yi confirmed that the Chinese heavy machinery company would not be assuming any of GM’s debt in the process.

Assuming STHIM and General Motors can sew up the bid for Hummer (in the third quarter or otherwise), the Chinese government will still need to grant approval before the deal can move forward.

[Source: Automotive News]

REPORT: Sichuan Tengzhong to finalize Hummer deal in third quarter, keep U.S. production? originally appeared on Autoblog on Mon, 15 Jun 2009 10:29:00 EST. Please see our terms for use of feeds.

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REPORT: Sichuan Tengzhong to finalize Hummer deal in third quarter, keep U.S. production?

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