CHINA’S TV manufacturer TCL announced recently that it had reached an agreement to buy the bankrupt German TV maker Schneider Electronics AG for about 8.2 million euros.

　　According to the agreement, TCL’s subsidiary Schneider Electronics GmbH, purchased the production line, inventory and trademarks of the renowned Schneider and Dual of Schneider Electronics AG, a company with a history of more than 100 years, which declared bankruptcy earlier this year.

　　TCL will also rent a 24,000 square-meter production facility in Tuerkheim, Germany, to serve as its European manufacturing base.

　　The plant is scheduled to begin operations at the start of next year.

　　Li Dongsheng, chairman of the board of TCL International, said the purchase would help TCL to expand its business in Europe, and the Schneider brand would provide TCL with access to its worldwide distribution network.

　　(Xinhua)