REFRACTARIOS
December 1st, 2002
BY KEITH NUTHALLTHE EUROPEAN Commission has ordered Spain's wage guarantee fund to recover Euro 545,000 in debt owed by specialist heat resistant ceramics manufacturer Refractarios Especiales S.A., after it concluded that an earlier waiving of this due payment was an illegal government grant. Brussels can order the recovery of such subsidies under European Union state aid rules designed to ensure European companies operate on a level playing field in Europe. The Commission, however, approved some preferential debt rescheduling arrangements agreed by Refractarios ...
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