Others News
- TCL Multimedia unit files for insolvency
Date: 28-May-2007 Sources: (Shenzhen Daily)
TCL Multimedia Technology Holdings Ltd. said Friday its overseas unit TTE Europe SAS filed for insolvency in France after failing to settle a number of outstanding liabilities.
TCL Multimedia, the world's largest television manufacturer by output, said in a statement it doesn't expect the insolvency filing for TTE Europe SAS to have a material financial impact. It said the operations of TTE Europe SAS had caused significant losses in recent years, and it considers the insolvency filing a significant step toward TCL Multimedia's recovery.
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