GERMANY AID
January 1st, 2002
KEITH NUTHALL
THE EUROPEAN Commission has ordered the repayment of part of an investment tax premium worth Euro 2 million, made out by the German government to sawmill company Klausner Nordic Timber GmbH, claiming that the subsidy broke EU state aid rules. It added that a loan guarantee supplied to the company should not have been made. However Brussels approved a range of other public grants made to the eastern German company.
THE EUROPEAN Commission has ordered the repayment of part of an investment tax premium worth Euro 2 million, made out by the German government to sawmill company Klausner Nordic Timber GmbH, claiming that the subsidy broke EU state aid rules. It added that a loan guarantee supplied to the company should not have been made. However Brussels approved a range of other public grants made to the eastern German company.
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