According to the Wall Street Journal, General Motors is “closing in on the sale of its HUMMER brand with an undisclosed investor.”
Potential investors have included Chinese companies as well as other international investors, though GM could not release any more details due to pending negotiations.
Sources familiar with the matter are suggesting the deal has the potential to save 3,000 jobs in the United States.
Reportedly, the buyer has committed to making aggressive investments in the future of HUMMER, and acquiring the HUMMER H3 and H3T plant in Shreveport, LA could end up being a condition of a final deal.
General Motors typically doesn’t release major announcements on Sundays, though with bankruptcy looming within 24 hours anything can happen. We’ll bring you more info as it becomes available.
Related posts:
- Was HUMMER Sold for $80 Million?
- GM Reaches Preliminary Agreement on HUMMER Sale
- GM To Announce Pending HUMMER Sale
- What GM’s Bankruptcy Means for HUMMER
- Hummer H3T to be manufactured in Shreveport?
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May 31st, 2009 at 11:25 am
WOO-HOO! Hurry up and announce this GM! Hey HUMMERGUY, are the employees that currently work at shreveport going to be employees for the new company?
May 31st, 2009 at 11:26 am
Please keep us updated throughout the day Brian.