- October 13, 2009
General Motors and their Latest Definitive Agreement
The latest agreement brought out by General Motors and Tengzhong has brought about some really great announcement for the companies to have entered with defining agreements with the allowance of the new permissions. The premium all-terrain HUMMER brand has now acquired new defining stretching with the Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd.
The new terms of definitive agreement has got buyers all over the ownership of the HUMMER brand. The new trademark and tradenames are also coming with IP specific licenses for those who sign under them. The new manufacturing company for HUMMER vehicles is all about expanding dealership work.
Tengzhog also creates an investment for the fresh entity of keeping 80% of interest at stake. Mr. Suolang Duoji is all about private entrepreneurship and bringing in some of the greatest A-listed business specifications to this new investment. He has made sure to include Hong Kong based thenardite producer Lumena into 20% of the stake. The financial terms and agreements to this whole process however have not been disclosed so far.
The transaction subject remains quite a strict regulatory process coming with approvals as well as good reviews coming from the governmental agencies. This agreement works in US and China with complete definitive continuation of the overall regulations and processes.