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EC Statement: State aid - Commission opens investigation into misuse of rescue aid to Italian press manufacturer Sandretto

( April 16, 2008, 09:48 GMT | Official Statement) -- ****************************************The European Commission has launched under EC Treaty state aid rules an in-depth investigation into the illegal prolongation of a €5 million rescue aid guarantee to Sandretto, an Italian manufacturer of press equipment. The Commission approved the state guarantee in January 2007 on the grounds of serious social difficulties at the company. However, the approval was limited to maximum six months, in conformity with the EU guidelines on rescue aid. The Commission needs to investigate whether the prolongation beyond six months constitutes a misuse of the aid. The opening of a formal investigation will provide interested parties with an opportunity to comment on the measure. It does not prejudge the final outcome of the procedure....

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