Tengzhong confident on Hummer deal

China's Sichuan Tengzhong Heavy Industrial Machinery Co Ltd, which shot to fame in the past week for its controversial takeover bid of iconic off-road sports utility vehicle (SUV) brand Hummer, said it has the financial resources and expertise to clinch the deal.

"The mergers and acquisitions we did in the recent years have provided us with rich experience to integrate resources in different industries or tap into a new industry," said Yang Yi, general manager, Tengzhong.

"What I have to stress is that we are not planning to be involved in the daily operations of Hummer. We have full confidence in Hummer's current management team," Yang said.