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Image header Agence Europe
Europe Daily Bulletin No. 7843
Contents Publication in full By article 26 / 56
GENERAL NEWS / (eu) eu/state aid

Commission reduces level of aid from Italy to Solar Tech

Brussels, 16/11/2000 (Agence Europe) - On Wednesday the Commission decided that Italy could only pay a subsidy of EUR 34 million for Solar Tech, instead of the 43 million notified to it, because the firm is not qualified to benefit from the additional aid granted to small and medium sized enterprises. It states in its Communiqué that "in the case of cash, it appeared the Solar Tech is closely linked with a major industrial group active in the field of construction: the Permmasteelisa group". In fact it holds 24% of the company, which enables it, according to the Commission, "not to suffer from the usual handicaps of SMEs: difficulty to gain access to a regional aid scheme for the Mezzorgio region, where Solar Tech intends to locate itself and set up a factory for the production of amorphous silicon film and integrated solar panels.

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