commiss decis june aid grant italian state compani enichem agricoltura spa italian text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area point articl thereof give notic parti concern accord aforement articl submit comment letter date march commiss inform italian govern decis open procedur articl treati respect aid enichem agricoltura spa hereinaft enichem agricoltura compani activ product distribut fertil part chemic subgroup italian state hold compani eni own eni financi subhold compani sci recapit lit billion lit billion lit billion commiss decid initi articl procedur regard capit inject amount lit billion total commiss decis publish invit member state interest parti submit comment matter meet held april repres commiss compani italian govern answer offici letter date june detail restructur plan group present letter inform commiss recapit financ measur addit cover abovement procedur articl treati measur consist capit inject lit billion carri plan grant lit billion inject restructur cost letter date august commiss inform italian govern decis extend aforement articl procedur cover measur amount total lit billion decis subject commiss commun august total amount cover initi extens procedur articl lit billion decis commiss view import trade member state chemic sector agricultur fertil industri financi situat compani basi inform hand form prima faci opinion measur question appear state aid mean articl treati articl eea agreement commiss basi inform dispos measur compat common market articl function eea agreement commiss conclud case compat possibl establish pursuant articl treati italian govern respond offici extens procedur letter date septemb provid addit inform restructur plan addit financ measur procedur comment receiv commiss german govern norwegian compani comment submit italian author letter date octob novemb request inform commiss italian govern octob februari futur dispos restructur compani italian govern repli commiss letter letter date novemb februari announc enichem agricoltura put liquid eventu happen decemb occas compani renam agricoltura spa liquidazion meet inform contact compani repres occur procedur allow commiss clarifi natur scale probabl effect restructur addit document provid inform compani enichem agricoltura belong group compani monitor end debt reduct procedur accord agreement italian govern commiss juli annex commiss commun decemb agreement oper involv state aid concern case case consider measur commun state aid rule prejud ii offici answer initi extens articl procedur italian author submit detail inform restructur plan enichem agricoltura express gener view financ compani industri decis behaviour sharehold eni respect consid similar privat investor examin poor situat prospect compani eni decid invest fund question prevent compani insolv financ implement restructur nation scheme final purpos oper minim loss eni enichem agricoltura ultim sharehold case bear absenc inject unlimitedli liabl compani debt event insolv pursuant articl italian civil code argu case final cost eni higher italian author argu behaviour held legitim court justic judgment case itali commiss judgment court rule hold compani limit period bear loss subsidiari order ceas oper condit court ad decis base likelihood indirect materi gain consider safeguard group imag orient activ iii substanc restructur italian author provid inform restructur action undertaken year restructur plan commenc complet summari restructur ration scheme radic chang strateg posit compani fertil market main target plan concentr trade domest market reduct unprofit foreign sale penal high transport cost order balanc suppli demand concentr product integr site ferrara urea ammonia ravenna multinutri npk fertil site competit locat area major consumpt itali connect ammonia pipelin final relinquish sector eni achiev creation partnership european oper dispos compani restructur scheme motiv acknowledg market situat perspect compel european oper reduc drastic product capac consumpt fertil come year expect continu decreas west european market notwithstand favour present trend forecast world level competit pressur eastern european european countri remain strong forecast increas domest demand product cost factor revis common agricultur polici fall agricultur price open market gatt rule environment constraint oblig european fertil industri engag restructur order reduc excess ineffici capac balanc suppli demand enichem agricoltura restructur entail abandon larg part activ intermedi final product involv closur number product site dispos liquid subsidiari asset isagro conserv terni industri chimich sariaf observ restructur compani base integr product unit ferrara ravenna locat area major consumpt itali unit barletta site central manag administr commerci servic constitut final core restructur enichem agricoltura offer sale restructur plan refer made part enichem agricoltura restructur busi area tabl show compani chang product capac main fertil gt tabl gt total nitrogen fertil capac reduc tonn year urea tonn year ammonium nitrat tonn year npk fertil closur sale capac intern ration result larg reduct compani workforc reduc employe period ration sale activ reduct personnel final compani structur consist ferrara ravenna site central administr commerci servic emploi peopl entail global reduct major part trough perman redund plan restructur complet liquid privat scheme enichem agricoltura settl gela plant phosphor acid sulphur acid npk fertil belong subsidiari isaf mothbal competit due high cost rock phosphat sold close part liquid scheme terni industri chimich subsidiari sale dispos complet liquid process sariaf compani turnov lit billion locat faenza ravenna activ manufactur special fertil physic devic agricultur formul pesticid sale dispos complet liquid scheme ferrara ravenna invest plan year mainten autom plant cost meet environment safeti standard product ration develop product adapt standard impos market unit hold major part enichem agricoltura final capac expect product gt tabl gt share expect italian market exclud trade activ product larg absorb domest market signific quantiti provid export europ end restructur consider reduct market share europ anticip enichem agricoltura export tonn year shown cost effici analysi prepar ferrara ravenna product plant rank medium high competit level european fertil plant view reduc market share target commerci structur ration reduc concentr smaller number client stockag distribut unit fix cost reduc benefit profit mention part decemb compani put liquid prospect definit close minim remain burden sharehold eni liquid process base sale privat restructur busi area enichem agricoltura addit subsidiari terni industri chimich sariaf privat remain asset sold liquid liabil final paid privat complet enichem agricoltura site leas liquid enichem spa provid manag rent commerci condit automat expir entri forc sale contract privat restructur busi area subsidiari terni industri chimich sariaf launch assist independ financi advisor call tender publish press italian author commun commiss date privat complet financi forecast forthcom year submit part restructur scheme account hand futur financi perform restructur activ cost liquid process proce privat financi forecast split main financi area oper activ restructur busi area ravenna ferrara central servic liquid area area forecast base scenario take account gener macroeconom indic itali data world bank special compani sector british sulphur fertecon cost raw materi commod final product restructur busi area expect achiev good level profit estim show posit result realiz year take advantag improv market situat restructur busi unit produc turnov lit billion liquid area embrac rest enichem agricoltura sold liquid result expect loss lit billion cover aid amount calcul deduct proce sale restructur busi unit subsidiari terni industri chimich sariaf restructur liquid enichem agricoltura ultim financ sharehold extent lit billion ecu million partli form capit inject grant year lit billion partli progress financ liquid lit billion inject cover loss relat restructur oper closur oper involv major shed staff caus consider social cost safeti environment cost closur consider grant financ liquid scheme estim basi liquid plan cover enichem agricoltura liabil decemb offset proce sale asset activ credit administr financi charg due manag liquid cover cost loss due run oper activ close final amount liquid loss cover aid result cautiou estim base financi situat agricoltura futur incom loss due dispos write asset incident cost liquid iv addit submiss italian govern observ receiv german govern norwegian compani german govern express opinion case assess long term refer gener eni group chemic subsector head enichem germani observ aid grant time eni enichem financi perform neg express gener apprehens aid question distort trade common market norwegian compani underlin condit opinion explicitli state impos aid enichem agricoltura approv restructur closur perman ensur commiss sale fertil plant close made buyer countri commiss potenti supplier commun market proce sale reduc amount restructur aid approv oper aid enichem agricoltura italian govern repli observ german govern point eni financi situat posit financi measur mention subject commiss evalu commun state aid rule comment submit norwegian compani italian govern repli confirm product site declar close restructur plan empti reclaim relev safeti measur set contest request plant close sold commun condit envisag commiss situat final confirm sale enichem agricoltura asset effect accord principl highlight commiss decis portugues privat law subject commun septemb proce sale offset part loss attribut liquid process confirm exist aid order ascertain aid includ measur commiss examin capit pass state owner public compani light market econom investor principl set commiss commun public undertak juli principl larg confirm court case law practic commiss abovement commun aid involv transact undertaken privat investor oper normal market economi condit basi inform provid commiss state amount invest italian state restructur enichem agricoltura hold compani eni final amount lit billion inject partli effect summar tabl gt tabl gt commiss observ enichem agricoltura sharehold eni industri hold compani own italian ministri treasuri decis eni invest subsidiari subsequ lack return invest produc neg effect return eni provid sharehold inject made eni purpos enichem agricoltura restructur restructur cost financ proce benefit state sharehold dividend increas capit fact eni provid suffici return state sharehold decad fund made subsidiari consid state resourc eni choic continu recapit enichem agricoltura constantli deterior perform account tacit explicit approv state sharehold invest state restructur enichem agricoltura receiv return futur inject made year compani put liquid made purpos prevent insolv compani carri restructur measur fund invest simpli cover enichem agricoltura loss prospect posit return grant full coher restructur plan aim restor viabil set poor perform enichem agricoltura period regard part process led sharehold decis liquid enichem agricoltura complet divest busi privat sharehold accept poor perform period posit result expect enichem agricoltura restructur low compar global inject consid suffici return state invest italian author argument eni act privat investor respect accept investor liquid restructur long regard court judgment part ii period enichem agricoltura suffer heavi loss long year amount loss high justifi eni behaviour similar privat hold compani amount regard aid loss attribut liquid process natur aid liabil guarante final paid sharehold articl italian civil code compani entri voluntari liquid guarante cover enichem agricoltura liabil recent year compani continu make heavi loss condit privat investor limit engag ail subsidiari decid put liquid moment expect restor financi viabil asset liabil posit show surplu eni adopt ration behaviour decid voluntarili liquid enichem agricoltura order write loss debt restructur reorgan cost oper regard aid final cost liquid amount lit billion deduct eni incom sale enichem agricoltura recent year enichem agricoltura largest oper commun term turnov export signific part product italian fertil market compani account total demand market share end restructur take account difficult situat sector commiss conclud total lit billion distort intra commun trade state aid mean articl treati articl eea agreement compat aid common market articl treati defin type aid compat common market natur oper articl applic aid question divers group oper locat measur region object derog articl concern aid facilit develop econom activ consider state measur concern aid specif aim permit enichem agricoltura continu busi financi difficulti financ restructur project restor compani viabil commiss approach aid restructur compani difficulti outlin commun guidelin state aid rescu restructur firm difficulti adopt juli guidelin commiss point take strict approach assess compat kind aid end transfer reason social industri problem member state shift unfair share structur industri adjust attend social problem produc reason commiss approv ad hoc aid compani difficulti restructur satisfi basic condit restor long term viabil compani reason time addit avoid unduli distort competit final proport restructur cost benefit basic requir fulfil effect aid consid keep common interest articl exempt basi document restructur plan present italian author examin regard element restor viabil compani reduct product capac evolut competit posit market proportion aid restructur contribut beneficiari aid financ restructur plan plan compani privat restor viabil privat gener rule conditio sine qua restructur plan restor long term viabil health compani reason time basi realist assumpt futur oper condit explain part enichem agricoltura put liquid decemb product site busi restructur continu oper subject ultim privat restructur undertaken complet come year liquid process expect lead agricoltura back long term viabil secondari busi sold abandon whilst core busi substanti reduc limit plant activ reli good level competit italian european market estim result restructur activ posit realist financi forecast year show activ reach good level profit accept privat investor addit italian author commit privat restructur busi area enichem agricoltura commun commiss date privat complet sale procedur launch involv subsidiari terni industri chimich sariaf commit complet definit shed enichem agricoltura busi line gener privat programm adopt italian govern confirm context debt reduct plan submit eni commiss compli provis agreement italian govern commiss juli implement plan monitor commiss basi regular report meet eni repres italian govern privat decis account estim net restructur cost cover aid privat eventu result agricoltura continu reli privileg public assist present direct link state definit cut circumst owner ensur compani ultim viabil state assist reduct capac condit set restructur aid measur limit advers effect competitor aid contrari common interest inelig exempt articl sector present structur overcapac irrevers reduc capac compani efma document fertil industri commun publish novemb present industri find structur overcapac commiss data show poor year term profit output surpass million tonn nitrogen equival fertil produc capac million tonn ammonia util rate commun enichem agricoltura restructur consider effort reduc product capac product rang respect compani ammonia capac shut urea ammonium nitrat npk commiss estim enichem efma figur show respect capac commun closur account urea ammonium nitrat npk ssp product sharpli reduc closur dispos reduct personnel import restructur busi area emploi compani workforc light consider take account signific reduct enichem agricoltura share fertil market highli competit suffer overcapac commiss conclud restructur compani final competit posit market affect competit extent contrari common interest commiss stress reduct capac result closur italian author announc definit genuin irrevers relev plant start owner result aid capac reintroduc market caus sharp distort competit commiss understand site gela phosphor acid npk fertil mothbal competit present condit plan start plant enichem agricoltura purchas involv restructur measur aid result distort competit implement plan notifi commiss order assess commun state aid rule proportion aid restructur shown inform submit italian govern inject made eni year cover loss aris closur liquid compani write asset coverag liquid loss enichem agricoltura shown financi plan liquid definit directli link closur restructur measur note beneficiari contribut significantli financ restructur liquid plan reinvest incom aris sale asset subsidiari final privat enichem agricoltura restructur busi area contribut maximum beneficiari busi shed estim proce includ deduct final liquid cost lit billion reason confirm account improv market situat good result subsidiari unit concern commiss underlin proce sole repai part outstand debt enichem agricoltura liquid avoid creation aid financi troubl compani activ group sold condit aid grant believ provid enichem agricoltura surplu cash aggress market distort activ link restructur process financ invest requir restructur commiss observ basi financi plan enichem agricoltura futur level compani financi burden unduli reduc compani benefit tax credit attach loss cover debt write financ aid commit italian author sell enichem agricoltura subsidiari date commun commiss regard condit approv restructur plan sale relev incom eni reduc liabil due liquid contribut beneficiari financ plan smaller exist sale privat make viabil attain normal profit level final note estim final cost liquid amount lit billion uncertain vari liquid process import reduct capac enichem agricoltura consid increas cost lit billion affect commiss posit apprais case monitor report implement restructur liquid plan requir monitor commiss purpos period report submit italian author summar progress restructur liquid privat programm commiss opportun follow implement plan regular meet italian author part monitor exercis agreement italian govern commiss juli actual cessat adopt decis articl aid favour enichem agricoltura cover decis capit inject effect year total lit billion expect final cost enichem agricoltura liquid lit billion increas amount aris actual implement restructur plan fulfil condit laid commun guidelin juli state aid rescu restructur firm difficulti aid exempt prohibit articl treati eea agreement pursuant articl treati eea agreement aid compat common market provid condit requir set paragraph articl hereof met beneficiari undertak carri measur laid liquid restructur privat programm submit commiss capac reduct result closur plant marghera manfredonia priolo san giusepp cairo gela ammonia plant croton porto empedocl fertilgest unit genuin irrevers end relev asset scrap render incap product convert sale capac competitor countri continu oper facil signific effect competit situat commun condit adher moment effect aid competit situat commun insignific plan start mothbal plant plant produc phosphor acid sulphur acid npk fertil notifi commiss prior examin commun state aid rule itali compli commit privat part enichem agricoltura consist unit ferrara ravenna barletta central manag subsidiari terni industri chimich sariaf accord timet submit commiss financi plan eni debt reduct present commiss pursuant monitor scheme agreement italian govern commiss juli incom obtain sale enichem agricoltura subsidiari asset mention paragraph higher forecast plan submit commiss full reduc indebted cover aid approv invest result aid financi troubl compani activ group sold privat financ state aid open interest parti uncondit articl itali cooper fulli arrang monitor decis provid commiss half yearli report includ progress liquid updat financi situat enichem agricoltura liquid individu inform asset subsidiari sold dismiss situat individu product plant close mothbal measur carri definit irrevers closur progress restructur privat enichem agricoltura subsidiari commun commiss good time main step privat process enichem agricoltura subsidiari report present financi situat enichem agricoltura liquid decemb reach commiss august report submit month start decemb figur updat month articl decis address italian republ brussel june commiss karel van miert member commiss oj oj oj ecr confidenti oj oj oj