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Image header Agence Europe
Europe Daily Bulletin No. 8414
Contents Publication in full By article 21 / 42
GENERAL NEWS / (eu) eu/state aid

Commission pursues inquiry on aid to CWP

Brussels, 05/03/2003 (Agence Europe) - The European Commission has called on Germany to provide "complete and detailed" information on a series of aid schemes granted to the company Chemische Werke Piesteritz (CWP). Once the information has been received, it will decide whether it is appropriate to include the aid in question in the formal review procedure that it opened in June 2001 against the firm. CWP, which produces phosphoric acid and derived products in Saxony-Anhalt, had been the subject, in 1997, of restructuring, which is moreover still in progress. To this end, the Commission had approved restructuring aid of EUR 15 million but after the decision had been cancelled by the Court of First Instance, a formal review procedure had been opened during which the Commission discovered the existence of other aid that had not been notified. Germany considers that most of the aid, amounting to a total of EUR 26.5 million, comes into the context of authorised aid schemes but did not provide sufficient information to support this assumption.

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