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

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The announcement comes one day after GM with plans to become aleaner company. Missouri has one Hummer in Chesterfield. Jim Lynch, ownerf of Lynch Hummer, said he knew the automaker was workintg on a deal to sell the branfd but welcomed the news as a way toease consumers’ “It’s good for business that it some of the apprehension that the brand may be goingf away in the public’s perception,” he The automaker said it has a memorandumk of understanding (MoU) and that the sale is expectedd to close by the end of thir quarter of this year. The deal is expectec to secure morethan 3,00o U.S.
jobs in manufacturing, engineering and at Hummer dealerships arounxthe country. The company said the proposedc transaction calls for the new Hummerd owner to continue to contracft vehicle manufacturing and business services from GM durinfg a defined transitional time For example, under the proposed GM’s Shreveport, La., assembly planft would continue to assemble the H3 and H3T through at leasrt 2010. GM is also trying to sell its Saab and Saturjn brands and will phase out itsPontiacv brand.