The Donnay from Couvin, Belgium no-longer exists. Donnay only exists in name only. Sports Direct International (a British Company) bought Donnay in December 1996. Sports Direct International in the preceding years has closed the operations in Couvin, Belgium, moved operations to the U.K., moved Donnay down market where now the only racquets that have the Donnay name are low end recreational frames that are sold in Donnay branded stores, other sporting good stores in the U.K. controlled by Sports Direct, and uses the Donnay name on other sporting goods and apparel.
http://www.sports-direct-international.com/main.asp?pid=19
In 2004 Sports Direct International bought the DunlopSlazenger Group.
I believe that TW was able to have a agreement with Sports Direct International to have SMU's of old Donnay racquets that were originally designed in Couvin, Belgium and first made in Couvin, Belgium. The SMU's that TW has of the old Donnay racquets are made in China.
I hope I have explained everything sufficiently.