German premium TV company Metz has agreed a deal with China’s Skyworth, which will take over the ailing company at the beginning of June.
Metz said that Skyworth will maintain its production and development site located in Zirndorf and has plans to strengthen and expand the Metz brand from there. At the same time, Zirndorf and Metz’s existing network will be used to further develop the European market for Skyworth’s own brand products. Around 70% of Metz’s staff will be retained in the TV segment.
Metz filed for insolvency in November 2014 and since then, the insolvency administrator and the management team have succeeded in maintaining the company at full operational strength.