Tcl buys Thomson to claim 211 million yuan

6 years ago, TCL Group (000100.SZ) Chairman Li decided to acquire the French Thomson company, may not have thought that the transnational "marriage" will bear a difficult "bitter fruit". After the acquisition of Thomson, TCL Group in 2005, 2006 consecutive losses two years, wearing a *st hat, 2007 years to realize the loss. Now it has suffered a "hangover" from the liquidation of Thomson's Tte European company, which said last night that the French commercial Court of Nantes, on March 10, made the first trial judgment on the Tte European Company's reorganization lawsuit, calling on Tcl,　　TCL Multimedia and its 4 wholly-owned subsidiaries paid 23.1 million euros (about 211 million yuan) to the legal liquidators of TTE Europe, while TCL Multimedia had estimated liabilities of € 10 million for Tte litigation in the 2010 financial statements. July 2004, TCL Group acquired Thomson Color TV business to set up a joint venture company TTE, due to the continued loss of European business, tte European companies filed for bankruptcy liquidation in April 2007. November 16, 2010, TCL Group announced that the liquidation officer through the French Commercial Court of Nantes to the company, Tcl Multi-Media and its related subsidiaries issued the first writ and the second writ respectively, and for different individuals to make two litigation requests. According to the first writ published by TCL, the liquidation officer claims the costs of illegally seizing or transferring tte Europe clients and TTE Europe for the purposes of TCL Multimedia, and so on, for the unreasonable acquisition of the employees ' preservation scheme: The second writ shows a wholly owned subsidiary of TCL Multimedia Tte　　The corporation issued a claim for the transfer of the Tte Technology (formerly TTE Europe wholly owned subsidiary) from Tte Europe to TTE Corporation. Last night's announcement confirmed the plight of TCL's claim. In response, Tcl said yesterday that it would take all necessary action to appeal against the results of the first instance, and not rule out negotiations with the liquidator to achieve a mutually satisfactory settlement. Tcl stressed that the 2006 ~2007 years tte European corporate restructuring completely legitimate and reasonable.　　Tcl, for the protection of shareholders and employees, finally adopted a sustainable development rather than direct closure of the bankruptcy solution, fully embodies the Chinese enterprises to go out of the social responsibility. "The verdict will put pressure on Tcl's future earnings," he said.　　"Home appliances industry experts Luo Qingxi yesterday," the first financial daily said, because TCL multimedia business last year, the loss of profit, weak, coupled with the construction of the 8.5-generation panel line, etc. need a lot of cash. Tcl Group in the February 26 announcement of the 2010-year earnings show, last year, the group revenue of 51.87 billion yuan, to achieve net profit of 433 million yuan, the year-on-year reduction of 7.98%. If the deduction includes 685 million dollars governmentSubsidies and other non-recurrent gains and losses, net profit loss of 233 million yuan. This is only the result of the first lawsuit in the TTE European company reorganization lawsuit.　　TCL Multimedia Bulletin and TCL Group Annual Report show that May 4 this year, the French commercial Court of Nantes will also decide the second writ, of which the claimed amount of up to 34 million euros (about 308 million yuan). According to the case, Mei Xinyu, a deputy researcher at the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, said that the unreasonable practices of the liquidator would likely have a negative impact on the confidence of other companies to invest in France, fully exposing the shortcomings of the French investment environment. For Internationalized Chinese enterprises, the ability to protect themselves legally in different target markets must be mastered in the process of trade globalization, which can be improved in practice. Wang Zhile, a member of the National Industrial Policy Advisory Committee, said the internationalization of enterprises is the only way for Chinese enterprises to enhance their competitiveness in the market. Internationally renowned multinational corporations also encounter different types of international lawsuits frequently.　　Tcl's response to the case will accumulate experience for other Chinese companies. Luo Qingxi said that when Thomson was acquired in fact, is in the business downturn, in the world can not find a buyer, because the aftermath of the staff is difficult to deal with. Tcl at that time dared to stand up to explain the ability of Chinese enterprises, "help people today but become a stain problem person, this is unreasonable." "Responsible Editor: NF058