Strasbourg, 14/03/2003 (Agence Europe) - Adopting a resolution on the closure of companies that have received financial aid from the EU, the EP says that aid in the form of public credit should be covered by long-term employment and local development agreements signed by the company managers. The EP calls on the Commission to refuse to grant EU aid to companies failing to respect such commitments that directly or indirectly subsidise relocation within the EU. It is particularly concerned that EU aid be refused to companies transferring production units to another Member State after being given aid by one Member State without fully meeting the conditions of the contracts signed with the initial Member State. The EP calls on the Commission to draw up a Code of Conduct to ensure subsidised companies do not transfer units to another country leading to a loss of jobs in the first country and to ensure EU companies do not set up in candidate countries simply to access EU funding and benefit from cheap labour in the candidates. It calls on the Commission and Member States to call for the reimbursement of aid to companies failing to meet their obligations and calls on the Commission to ensure C&J Clarks, Gerry Weber, Bagir, Sasimac, Schuh-Union, Scottwool, Ecco'let, Bawo, Rohde, Philips, Tasaki Saltano, Efacec, Eres, Alcoa, Delphy and Alcatel respect Directive 94/45/EC (European Enterprise Councils) and Directive 98/59/EC (redundancies).