Source: GM nears completion of Hummer sale

[Steve]

DETROIT - General Motors Co. is poised to sign a deal to sell its Hummer brand to a Chinese heavy equipment manufacturer as early as Thursday afternoon, a person briefed on the deal said.

Representatives of Sichuan Tengzhong Heavy Industrial Machinery Corp. have been in the U.S. for the past nine days working on final details with GM, and both sides hope to sign a definitive sales agreement on Thursday or Friday, said the person, who asked not to be identified because the deal is not final.

The purchase price was not known, but GM said in its bankruptcy filing that Hummer might bring $500 million or more.

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[moosetags]

I don't know how comfortable I am the the primary utility vehicle of the United States Military being made in China, or any other foreign country.

[Steve]

If I read this right, they are selling the HUMMER brand name and stuff that goes along with building the civilian HUMMER.

I got this off of the AM GENERAL website. I added the emphasis in BOLD RED.

http://www.amgeneral.com/corporate/history.php

General Engine Products begins production of diesel engines.

In 1999, AM General incorporated a wholly owned subsidiary, General Engine Products LLC (GEP), and constructed a new plant in Franklin, Ohio to build 6.5-liter diesel engines. GEP supplies service engines to General Motor's Service Parts Operation (SPO) and builds engines for AM General's use, as well as for other customers.

GM begins marketing HUMMER H1 and H2.

In December 1999, AM General and General Motors Corporation finalized an agreement to jointly pursue product, marketing and distribution opportunities for HUMMER. GM acquired the exclusive ownership of the HUMMER brand name worldwide and the current HUMMER was renamed the HUMMER H1. In 2002, AM General began assembling the HUMMER H2, a new "next generation" sport utility vehicle designed by GM, at a new factory in Mishawaka. GM now has responsibility for marketing and distributing all HUMMERs.

Although GM acquired the HUMMER brand, they do not own any part of AM General.
In April 2002, AM General was converted to a limited liability company.

In August 2004, MacAndrews & Forbes Holdings and the Renco Group announced the formation and capitalization of a new venture to own AM General LLC.

In 2007, AM General and General Dynamics Land Systems formed a joint venture named General Tactical Vehicles to compete for the U.S. Army and Marine Corps Joint Light Tactical Vehicle (JLTV) program.

General Motors has responsibility for marketing and distributing all HUMMERs.

AM General also provides parts and training support for all its products and its Engineering and Product Development Center provides systems technical support for several military vehicle systems in addition to the Humvee.

During eight decades of growth, AM General has established a reputation as the world leader in the design, engineering and production of military and special purpose vehicles.

AM General and Humvee are registered trademarks of AM General LLC.

HUMMER, H1 and H2 are registered trademarks of General Motors Corporation.