GM and Tengzhong extend Hummer purchase deadline

The deadline for Sichuan Tengzhong Heavy Industrial Machinery Co. to purchase Hummer from General Motors Co. has been extended by a month, until the end of February.

According to a contract signed in October 2009, the definitive agreement for the sale of Hummer to Tengzhong, a little-known machinery maker in southwestern China, expired on Jan. 31. In a statement, Tengzhong said that it was waiting for approval from Beijing to close the deal. Tengzhong said that it has started communicating with Chinese regulatory bodies after signing the deal in 2009. Tengzhong also stated that it will do its best to cooperate with the approval process.
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Threepoint1415926 - 2/3/2010 6:39:56 PM

+2 Boost

Extensions to contracts are pretty common. This doesnt really mean anything to me. On another note, that H3 looks pretty cool IMO

r_driver04 - 2/4/2010 1:59:27 PM

0 Boost

Just let Hummer go away. Talk about a dumb idea. But I guess that's par for the course and the reason GM is where it is.