China-based machinery firm Sichuan Tengzhong Heavy Industrial Machinery Company named
2 June 2009

The potential Hummer buyer has been revealed as China-based machinery firm Sichuan Tengzhong Heavy Industrial Machinery Company.

It is reported to be bidding between $150 million (£90 million) and $250 million to buy Hummer from GM.

Blog: Dumb and Hummer.

GM, which filed for Chapter 11 bankruptcy protection on Monday, has so far refused to name the prospective buyer, but sources close to the deal have confirmed it is Sichuan Tengzhong.

As part of the deal Sichuan Tengzhong will, according to GM, make Hummers in the United States "during a defined transitional time period", saving up to 3000 jobs at factories and dealerships.

The Chinese company, which is owned by a group of private equity investors, is not expected to give any guarantees on its future manufacturing plans beyond that period, however.

GM sold 27,485 in America last year, down 51 per cent on 2007. It is developing cleaner fuel technology and a Hummer hybrid and Tengzhong is expected to continue that work.

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