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

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The announcement comes one day aftefr GM with plans to become a leaner Missouri has oneHummer dealership, in Jim Lynch, owner of Lynch said he knew the automaker was working on a deal to sell the branfd but welcomed the news as a way to ease consumers’ “It’s good for business that it some of the apprehension that the brand may be going away in the public’s perception,” he said. The automakee said it has a memorandum ofunderstanding (MoU) and that the sale is expectedf to close by the end of third quarter of this The deal is expected to secure more than 3,0000 U.S. jobs in manufacturing, engineering and at Hummetr dealerships aroundthe country.
The company said the proposed transaction calls for the new Hummed owner to continue to contract vehicl e manufacturing and business services from GM during a defined transitional time period. For under the proposed agreement, GM’z Shreveport, La., assembly plant would continuse to assemble the H3 and H3T through atleasyt 2010. GM is also trying to sell its Saab and Saturn brandw and will phase out itsPontiac