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

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The announcement comes one day after GM with planss to become a leaner Missouri has oneHummer dealership, in Chesterfield. Jim Lynch, owner of Lync h Hummer, said he knew the automaker was workingf on a deal to sell the brand but welcomed the news as a way toease fears. “It’s good for business that it some of the apprehensio n that the brand may be going away inthe public’es perception,” he said. The automakere said it has a memorandum ofunderstanding (MoU) and that the sale is expectesd to close by the end of third quartee of this year. The deal is expectesd to secure morethan 3,000 U.S. jobs in engineering and at Hummed dealerships aroundthe country.
The company said the proposef transaction calls for the new Hummer ownefr to continue to contract vehicled manufacturing and business services from GM duringy a defined transitional time For example, under the proposed agreement, GM’s Shreveport, La., assembly plant would continue to assemble the H3 and H3T througnh at least 2010. GM is also trying to sell its Saab and Saturh brands and will phase out itsPontiac brand.