Brussels, 02/06/2005 (Agence Europe) - On Wednesday, the European Commission approved a reorganisation of Spanish public military shipyards, formerly owned by IZAR but have recently been taken over by a new public company called Navantia. After rejecting an initial restructuring plan for Izar, the Commission approved the new measures whereby Navantia's civil sales will not exceed 20% of total sales, as a 3-year moving average. Spain invoked Article 296 of the EC Treaty, which allows a Member...