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Image header Agence Europe
Europe Daily Bulletin No. 7687
Contents Publication in full By article 22 / 53
GENERAL NEWS / (eu) eu/state aid

Commission endorses German aid to Kvaerner Warnow Werf (naval shipyard) for 1999

Brussels, 29/03/2000 (Agence Europe) - The European Commission has reached the conclusion that the naval shipyard Kvaerner Warnow Werft respected its capacity limit in 1999. Therefore, no aid must be reimbursed for this period. The European executive authorised German State aid for its restructuring for the sum of DM 1.2 billion, paid between 1993 and 1995 to the company KWW, after its acquisition by the Norwegian group Kvaerner. However the authorisation was on condition of the respect of the rules governing the reduction of the production capacities of East Germany naval shipyards. Thus the Commission forced KWW to reimburse DM 83 million in aid in July 1999 for exceeding its production capacities in 1998 and, last February, it called for the reimbursement of 12.6 million for an overproduction in 1997. Therefore the Commission has just noted that there has been no overproduction in 1999.

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