Tengzhong buys Hummer money for first exposure

Teng Zhong Heavy industry boss disclosed: from own funds and financial institutions to buy a "horse" in a week, in the center of the Whirlpool Tengzhong general manager Yang finally openly face the media, in the exclusive dialogue with Sina finance, he said, netizens questioned are well-intentioned, but the world is absolutely ideal thing is not, "if it is very energy-saving , there is a good brand, high profit, it is possible to produce this transaction?　　"For the first time, he gave a statement on the funding of Hummer, saying the acquisition was financed mainly through its own funds and financial institutions." The initial disclosure of the source of acquisition funds for some time, the focus of public opinion is mainly focused on the source of the purchase of Hummer funds, Yang said, "We are private enterprises, simply from the registration of funds difficult to judge the strength of funds, the acquisition of funds mainly through our own funds, as well as financial institutions financing."　　"For the three behind-the-scenes drivers of Morgan Stanley, Credit Suisse and Merrill Lynch in the media, he said it was not convenient to disclose information, but the financing of financial institutions has been in deep discussion for a long time, and it is believed that there will be final results in the coming weeks. When asked about the estimated 100 million dollars to 500 million U.S. dollars to buy the Hummer brand, whether Tengzhong thinks the brand value is too expensive, he said no comment. "But we think the final deal will be a very reasonable price." "The company has recently reported that it has not supported the purchase of Hummer," according to a recent report in respect of the Government's approval process. In this respect, Yang said the relevant approval work is in progress. "We respect the process of government approval and we will fully co-operate." Teng-zhong Heavy industry is now in accordance with the requirements of the relevant ministries and procedures to do step-by-step. "They will make it clear before they decide." "There is little chance of success in negotiations with GM about the recent rumours that Tengzhong's acquisition of Hummer has been very rare," Yang said. "We are now in a normal state of negotiation and in the midst of it."　　He pointed out that a number of specific provisions were still under negotiation and that a final agreement was in place for a full exchange of views. New Market to build green Hummer earlier data show Hummer's market is shrinking sharply.　　In the Chinese market, only 69 cars were sold in 2008, and in fact since 2002, the total sales volume is only 334. "Hummer has not yet officially entered China and has not set up a marketing network in China, so there is no more accurate data on the statistics," Yang said. "So, how is the Hummer next step profitable?" Yang says the company will expand its share of emerging markets next step. In addition, he said he would invest in research and development, the green Hummer makes it a good base to open up the international market. "Because of the situation facing GM, its parent company, and the news that the Hummer is being sold, some potential consumers may have various misgivings about the impact on Hummer consumers," he said. Hummer Brand It is also advocating a sport, exploration, the pursuit of quality of life such a reasonIf we can combine these ideas with environmental protection, fuel economy and so on, its market outlook is still very good.　　"Yang said. For some experts suggest that the company to buy the brand after the original road and bridge equipment named Hummer, Yang said there is no such plan. "First, we have to maintain the quality of the Hummer brand, this is important; second, the Hummer brand also has franchises we've got, it's included, it can make some licensed goods, but the current franchise is more relevant to Hummer sales, such as T-shirts, hats, etc. , like a series of Hummer regulations.　　"In addition to the online query about the acquisition of Hummer military products, he said the deal does not involve military technology and sales, Tengzhong acquisition of heavy industry is a civilian part." Considering maintaining the North American construction base, Yang said if the cooperation with GM can ensure a stable and smooth transition, then the company will invest in expanding the international market "for now, the Hummer brand's main consumer is still in North America, so will maintain the base in North America, our brand has a great expansion of other markets space." Building a manufacturing base outside the United States is also a reasonable consideration. "But he added that the construction of the base must be in line with China's game rules, relevant industrial policies and related regulations, and is linked to the growth expected by the company." According to Sina Finance