Source: Adsale Industry Portal 2456.com
Sichuan Tengzhong Heavy Industrial Machinery Co Ltd (Tengzhong) Thursday announced that it has withdrawn its proposed acquisition of Hummer from General Motors (GM) after Chinese regulators blocked Tengzhong's Hummer bid.
GM said it would work closely with Hummer employees, dealers and suppliers to wind down the business, which employs in excess of 3,000 people in the U.S., in an orderly and responsible manner.
China's Assistant Minister of Commerce Wang Chao said February 24 that they have not received an application interms of the Hummer bid.
(Pony)
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