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EC Statement: State aid - Commission opens in-depth inquiry into €31 million subsidy to French domestic appliances manufacturer FagorBrandt

( October 11, 2007, 09:49 GMT | Official Statement) -- ****************************************The European Commission has launched an in-depth investigation to establish whether a subsidy worth €31 million that the French authorities intend to grant to the domestic appliances manufacturer FagorBrandt is compatible with the EC Treaty rules on state aid to firms in difficulties, in particular as regards the return of the company to viability and the limitation of aid to the minimum necessary. The Commission is also concerned that the subsidy may be used to finance the repayment of €22.5 million of unlawful aid FagorBrandt received in 2002 (see IP/03/1738). The opening of an in-depth investigation allows interested parties to comment on the proposed measures. It does not prejudge the outcome of the procedure....

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