Brussels, 26/07/2001 (Agence Europe) - The European Commission did not raise any objections towards the planned aid enjoyed by the German company Glunz AG, located in Nettgau and specialised in the processing of wood. In August 2000, Germany had notified, under the multisectorial framework on regional aid for large investment projects, an aid of around EUR 70 million in favour of Glunz, a company belonging to the Portuguese group Sonae and, aiming for the creation of an integrated wood processing centre, which would lead to the creation of 355 permanent positions. Following its investigation, the Commission felt that the proposed aid does not exceed the maximum aid intensity, when applying the multisectorial framework for this specific project and thus authorised the project. During the assessment of the aid's compatibility, the Commission took into account the situation on the market with regards to capacity, the number of jobs created directly by this project and the beneficial effects of investments on the economies of the aided regions.