commiss decis june measur restructur privatis koninklijk scheld groep implement netherland notifi document number dutch version authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof call interest parti submit comment pursuant provis cite regard comment procedur june commiss receiv letter parti alleg aid koninklijk scheld groep bv hereinaft ksg connect sale compani damen shipyard group hereinaft damen request inform matter letter date letter juli regist juli dutch author inform commiss plan measur favour ksg state articl ec treati appli measur prove case letter consid notif pursuant articl minist econom affair provid explan quot condit notif quot meet mr monti septemb commiss request inform letter date septemb march letter date march regist march dutch author ask time repli letter march request grant letter date march repli letter date octob regist octob juli regist juli earli dutch minist econom affair inform mr van miert measur time letter decemb regist decemb commiss subsequ request inform letter date januari februari dutch author repli letter date februari regist februari march regist march decis juli commiss initi articl procedur respect measur inform netherland letter date juli request dutch author time repli letter date august septemb regist august octob grant letter date septemb octob dutch author respond decis letter date octob regist dai decis publish offici journal european commun interest parti invit submit comment aid commiss receiv repli dutch author ask react letter date octob commiss rais question letter date novemb januari march request time repli letter date novemb regist decemb request grant letter date decemb dutch author gave reaction interest parti comment answer aforement question letter date decemb regist dai februari regist februari march regist april damen comment answer inform letter date decemb regist dai april regist dai meet repres commiss damen dutch author place april question rais commiss concern price paid damen ksg dutch author submit consult report ksg time privatis commiss instruct independ expert prepar expert opinion methodolog financi detail report expert start work januari submit final report march year detail descript measur koninklijk scheld groep ksg found koninklijk maatschappij quot de scheld quot hereinaft km main shipbuild locat flush provinc zeeland merger earli km part rijn scheld verolm scheepswerven en machinefabrieken compani bankrupt central govern provinc zeeland acquir km share km renam ksg found km ksg suppli vessel dutch navi built commerci vessel year develop industri activ subsidiari involv activ form integr part ksg hold compani partli own ksg compani structur frequent chang overview legal entiti activ set scheld maritiem bv marin divis scheld scheepsnieuwbouw naval commerci shipbuild scheldepoort ship repair scheld offshor offshor activ scheld industriël productiebedrijven bv industri product divis scheld machinefabriek bv machin work intermedi finish part assembl machin machin structur trade spare part marin engin scheld marin servic bv scheld gear gear transmiss ship industri applic scheld technolog servic bv consult technic servic field materi weld technolog scheld exotech specialist equip high grade repair work process industri power station rederij quot de scheld bv quot manag vessel built ksg scheld onroerend go bv ownership manag real estat ksg deelnemingen bv sharehold fabricom instal technolog industri construct scheld industri engin amp contractor boiler construct energi convers system thermal wast process instal scheld heron turbin combin heat power gener polymarin bv high grade fibr reinforc composit structur aerospac shipbuild mould thermoplast thermoset resin knm steel construct sdn bhd combin heat power instal wast inciner industri construct south east asia scheld apparaten en ketelfabriek akf machin engin total turnov amount eur million concern shipbuild ship repair royal dutch navi ksg main custom construct import order frigat start negoti start earli april frigat launch deliv total roughli eur billion ksg share contract worth eur million part suppli direct navi fit vessel ksg account workload repres frigat commerci shipbuild declin past ksg built commerci vessel caught council regul ec june establish rule aid shipbuild hereinaft shipbuild regul damen shipyard group damen found brother hardinxveld giessendam compani split site beneden hardinxveld son brother main custom time larg dredg compani earli damen develop specialist tug small util vessel subsequ year compani merg group includ larg ship repair yard yard specialis larg luxuri yacht control damen hand mr damen own compani children consolid turnov damen includ ksg amount eur million group employe measur netherland ksg financi difficulti result shipbuild activ order avoid bankruptci tide ksg privatis dutch author provid januari convert subordin loan nlg million eur million addit advanc payment nlg million eur million frigat agre subject condit dutch navi bui ksg addit amphibi transport ship complet measur condit sound busi plan cooper find privat parti ksg privatis loan advanc payment provid ksg maritiem en industriël bedrijven month deposit base point ksg paid provis nlg eur loan repaid octob earlier event dutch author take final decis capit inject privatis negoti longer expect repay postpon addit advanc payment concern profit paid equal amount interest subsidi advanc payment amount eur million discount end dutch author held talk candid view privatis ksg end damen compani want bui ksg negoti continu februari dutch state damen reach agreement basic principl takeov due dilig investig negoti conclud juli privatis consist measur dutch author provid convert subordin loan nlg million eur million ksg ministri defenc agre provid interest free loan nlg million eur million reloc militari activ current locat centr flush ksg site km east deem view limit size sluic provid access current site loan condit construct locat complet year total cost nlg million eur million year cost turn lower damen pai back part loan sixth year remaind paid back annual instal loan paid current estim cost reloc remain limit eur million interest subsidi amount eur million discount end amphibi transport ship announc govern plan bui addit naval vessel ksg measur dutch author septemb transfer loan subordin loan share ksg damen symbol price nlg damen undertaken complet frigat accord exist contract ground initi articl procedur commiss initi articl procedur explain measur concern ksg militari commerci activ alik basi inform unabl determin measur caught articl treati addit rule possibl state aid involv doubt measur compli rule laid commun guidelin state aid rescu restructur firm difficulti hereinaft rescu restructur aid guidelin shipbuild regul doubt concern relationship measur restructur plan abandon structur loss make activ effect restructur competitor aid limit minimum addit commiss damen paid market price ksg open call tender place competitor equal foot provid inform access transpar procedur moment time comment interest parti public decis initi procedur commiss receiv comment unit kingdom spain compet ship repair yard recipi recipi comment larg coincid netherland set comment summaris section comment unit kingdom author unit kingdom share commiss concern note ksg damen direct competitor unit kingdom shipyard clear aid involv support commerci shipbuild mega yacht grow market unit kingdom shipyard aid competitor yard netherland distort competit case mix yard bought commerci shipbuild unit kingdom take view fall scope articl treati involv commerci shipbuild unit kingdom confid claim interest compani awar effort dutch author find candid view sell ksg share expect unit kingdom compani show interest comment spain spain take view measur fall complet scope treati ksg main custom dutch navi ii activ concern defenc iii frigat form backbon dutch navi iv requir privatis militari capac safeguard event doubt applic articl treati commiss pursuant articl examin netherland aid affect product trade product intend specif militari aid measur adjust compli rule laid treati case articl procedur restrict ksg commerci product product intend specif militari purpos lastli spain question regul ec appli measur concern period contract commerci vessel won ksg period comment compet ship repair yard compet ship repair yard take view measur distort competit ksg compet ship repair market unfair term basi unrealist low price aid directli harm competitor competit posit comment netherland damen comment damen netherland coincid main conclus reinforc detail present netherland make gener comment inform commiss measur regret commiss express doubt earlier stage applic articl treati netherland take view articl treati appli view short term import frigat deliv time militari strateg import safeguard naval shipbuild netherland medium long term maintain suffici contribut dutch defenc industri context aspect secur polici dutch secur polici hoofdlijnennotiti januari defensienota novemb deem essenti maintain specif industri capac fundament militari technolog field naval vessel view protect essenti interest nation secur case nato member take account provis articl treati militari equip procur dutch supplier argument put forward includ dutch navi operation independ militari assist netherland oversea territori capac intens cooper nato member eu member state import aspect lcf frigat form backbon navi deem essenti perform duti deliv time navi provid adequ command platform suffici air defenc capac task group intens intern cooper take place sensor weapon command system deliveri lcf delai disrupt cooper jeopardis case assumpt defenc secur polici base directli compromis lcf navi land platform dock hereinaft lpd lpd intent built ksg increasingli import direct access transport capac illustr recent crise yugoslavia ethiopia eritrea helsinki european council decemb underlin transport capac laid specif object lpd import object achiev intens technic cooper take place navi ksg continu essenti cooper reloc flush east access cover dock size essenti naval shipbuild interest free loan consid context defenc secur polici state act privat compani dutch author agre privat compani respons defenc secur polici action privat compani sharehold state influenc ksg ksg compani structuur regim structur scheme dutch law mean board director subject supervis board commission consist person appoint state law requir commission act sole interest compani instruct consult financi situat deterior state set condit provid capit state set condit ksg shed core busi retain naval commerci shipbuild cooper state find strateg partner takeov cooper potenti candid common busi plan measur decid decemb constitut interim solut view await cabinet paper defenc polici suspens payment unaccept view risk complet lcf uncertainti surround naval shipbuild netherland addit finish lcf bankruptci situat involv higher cost basi quot busi quot cost estim minimum eur million guarante supplier estim eur million financi problem concentr area shipbuild activ netherland look possibl split compani infring legal right creditor buyer ksg compani start netherland start proceed view sell share ksg invest bank candid approach half state made renew effort effort find buyer ksg wide report press addit compani market awar europ candid german industri group state rule compani advanc end damen remain condit privatis militari interest safeguard commerci condit impos lastli relationship dutch navi ksg businesslik fact state sharehold relev order ksg process launch place lcf order ksg foreseen compani run difficulti year undu distort competit dutch author accept rescu restructur aid guidelin applic confirm act spirit guidelin initi indic fact measur strictli ksg continu exist includ subordin loan market rate dutch author undu distort competit avoid termin activ staff cut concern job total workforc damen busi plan concentr core busi naval shipbuild mega yacht ship repair engin work outlook activ favour aid limit minimum loss dealt ksg restructur entail high cost connect closur boiler construct plant reorganis finalis foreign defenc contract lack experi larg project abroad gave rise enorm loss high risk loss commerci shipbuild result strategi mid build type ship ksg insuffici experi ksg record signific loss ga turbin sector activ close sold product ga turbin close sold short term ship repair activ brought line damen group activ naval shipbuild continu yacht construct start netherland conclud busi plan enabl ksg viabil restor spillov effect minimum cost state netherland state state contribut correspond neg ksg time privatis contribut enabl damen restor ksg viabil spillov effect state provid fund excess strictli privatis damen agreement reach dutch govern essenti damen ensur long term profit ksg shipbuild ship repair activ synergi activ sector dutch govern bear financi cost close ksg unprofit shipbuild activ damen explain ksg loan full prior privatis loan pure settl ksg outstand debt subsequ emerg capit inject insuffici cover debt damen assum liabil damen restructur plan ksg damen refer busi plan drawn ksg submit earlier stage comment ongo implement restructur plan detail provid section market price netherland damen submit consult report assess ksg time share sold damen report conclud ksg share time neg tune eur million eur million core activ show slightli posit result neg result inter alia high financi claim risk low capac utilis uncertainti surround futur order oper activ report conclud sale entail advantag buyer damen observ parti comment gener netherland refer comment damen damen welcom endors comment made spain netherland refer previou posit damen confirm remark unit kingdom effect market mega yacht grow surpris unit kingdom comment interest parti awar dutch govern plan privatis ksg wide report time nation intern press dutch shipbuild show awar request dutch author inform possibl acquir ksg damen ask independ british yacht dealer comment dealer mention unit kingdom shipyard recent express interest build larg motor yacht sail yacht basic sail yacht builder oppos motor yacht builder identifi compani unit kingdom time compar compet dutch yacht builder amel regard comment compet ship repair yard netherland damen note ksg ship repair activ subsidiari naval shipbuild activ aid benefit ksg ship repair activ purpos restructur plan negoti netherland damen carri due dilig investig devis restructur plan main compon restructur plan concentr core busi develop construct mega yacht ii termin sell ksg core busi iii focus futur shipbuild activ segment ksg equip iv streamlin manag structur simplifi legal structur closur loss make core busi impos condit measur restructur start privatis agreement finalis concentr core busi develop construct mega yacht naval shipbuild remain ksg core activ dutch navi prefer supplier major asset outlook futur order healthi addit shipbuild expect benefit damen sale organis compani win order build process product rang gear patrol task militari vessel smaller complic case view achiev full capac utilis frigat complet market effort focu emerg economi india malaysia shipbuild increasingli locat countri import featur busi plan reloc militari activ centr flush flush east kilometr reloc small size sluic limit maximum size naval vessel built product facil construct exist dock flush east weld shop block factori section build reloc specif restructur measur ongo construct frigat deem damen found due dilig investig work frigat schedul risk identifi reason expect jeopardis compani expect profit order negoti dutch navi hydrograph registr vessel amphibi transport vessel unman minesweep reloc restructur measur naval activ ksg plan start yacht construct form import part restructur plan damen engag build mega yacht amel makkum motiv takeov ksg acquir addit capac yacht construct view meet demand restructur plan assum yacht eur million eur million built year current order total eur million rise eur million ksg facil adapt easili yacht construct reloc activ flush east permit refurbish dock fill sand construct privat yacht fall scope shipbuild regul appli commerci vessel damen market mega yacht custom design motor yacht steel hull aluminium structur metr length global boom yacht built world compar damen main competitor feadship netherland lürssen germani benetti itali extrem specialis market compar market race car custom select yard basi specif design requir technic expertis price damen question surplu capac amel current order book compani histori competitor order book believ similar healthier term total length built yard larg number smaller mega yacht builder product capac yacht year close sell ksg core busi restructur plan continu activ relat shipbuild constitut shipbuild process technolog exotech engin work trade machin spare part signific loss occur shipbuild activ notabl boiler construct lesser extent ga turbin main reason loss lack experi enter market insuffici hedg technic risk larg individu project insuffici size benefit economi scale gain experi major loss make project concern construct activ termin sold main outstand claim settl siec boiler construct bankrupt nem scheld industri engin scheld heron ga turbin wound core activ hive activ process manag technolog franken amp equip technolog fabricom installati techniek sold activ steel construct knm steel construct restructur plastic product polymarin sold start recent made wind restructur exotech trade activ ship diesel engin spare part view persist bleak market outlook engin work restructur halv size reason degre capac utilis expect work break refocus futur shipbuild activ compar shipbuild activ loss commerci shipbuild remain small attribut loss individu order specif gener factor plai difficult market european shipbuild industri oper present addit result limit order dutch navi small size yard ksg face structur difficulti achiev full capac utilis book order fit militari order cover fix cost owner tempt accept low profit margin small loss quot top order quot problem exacerb fact ksg workforc gener highli skill specialis naval shipbuild mean lack experi simpli overqualifi work type ship result ksg manag accept order expect low profit margin high risk addit ksg cope difficult market condit carrier result strength unit state dollar damen approach focu build ship ksg suit correspond skill ksg workforc surplu capac restructur plan complet termin cargo vessel construct damen convinc current circumst ksg make profit activ ksg concentr build naval vessel countri special highli specialis util vessel buoi handl mainten vessel amp ship damen strong market posit special util vessel segment addit sale organis larg shipbuild standard difficult predict market special util vessel evolv vessel intens lifetim long loss ship repair segment result difficult market condit number ill judg project problem due partli larg convers project damen intend put stop project kind organis restructur damen expect scheldepoort benefit synergi ship repair activ quot distant quot market possibl ship repair activ equip damen expect market condit ship repair improv futur scheldepoort strateg locat busi river scheld benefit increasingli strict safeti standard ship damen expect ksg ship repair activ maintain current level significantli end tabl summaris develop gt tabl gt activ increas decreas stabl simplifi legal structur reduc overhead ict infrastructur immedi takeov damen simplifi compani legal manag structur reduc ksg overhead reloc result save manag cost lastli ict infrastructur extens cumbersom ksg activ invest ict infrastructur plan restructur cost financ plan financi situat restructur cost identifi privatis negoti start time ksg start restructur incur loss loss regard restructur cost unavoid restor profit loss huge nlg million eur million nlg million eur million due oper loss interest taxat remain loss nlg million repres cost relat wind siec nem reorganis write sharehold small amount nlg million eur million incur remaind set provis year damen provid figur restructur cost year relev figur sum nlg million nlg million nlg million eur million discount end amount eur million point privatis decemb damen incur cost close loss make activ total eur million tabl cost incur item commiss take view consid relat directli restructur plan treat normal busi cost appli minor cost relat construct frigat unspecifi provis creat cover claim employe contact asbesto gt tabl gt total cost reloc naval shipbuild flush east estim eur million current estim eur million discount end amount eur million invest mega yacht construct amount eur million expect invest ict infrastructur amount eur million discount end amount eur million restructur financ aid measur proce divest proce sale surplu land centr flush addit resourc ksg bank complet financi overview provid tabl gt tabl gt financi figur plan concern period restructur plan base balanc sheet forecast gt tabl gt plan compani restor modest profit level tabl show main indic shipbuild ship repair activ origin plan assum yacht built year forecast adjust reflect higher level yacht construct activ yacht construct current order book line scenario gt tabl gt assess applic articl articl stipul quot member state measur consid protect essenti interest secur connect product trade arm munit war materi measur advers affect condit competit common market product intend specif militari purpos quot convers measur caught definit state aid mean articl affect militari product commerci dual product fulli justifi basi articl commiss share viewpoint dutch spanish author effect virtu militari aspect measur caught articl clear effect competit militari sector interpret conflict word articl netherland provid inform essenti secur interest involv case commiss deni interest exist time clear netherland rescu restructur compani militari part financi resourc provid ksg militari activ commerci activ clear measur affect condit competit commerci product accord standard practic commiss assess measur light state aid rule distort threaten distort competit market product caught articl busi behaviour netherland commiss disput sale ksg damen costli safeguard state interest custom privat custom situat minimis loss similar dutch author refer explicitli court decis join case hytasa reason similar respect paragraph judgment court state quot order determin measur natur state aid similar circumst privat investor size compar bodi administ public sector provid capit amount respect distinct drawn oblig state assum owner share capit compani oblig public author quot reason dutch author base distinct made state oblig custom contract frigat oblig public author privat custom find situat state unfortun posit result normal competit busi procur connect procur militari vessel organis quot busi quot basi common nation defenc polici european union netherland reserv order principl industri case ksg open competit tender procedur polit decis commerci shipyard difficulti state support order surviv ensur frigat finish word polit decis safeguard state claim aid yard justifi privat compani similar circumst origin polit decis intent safeguard implement state act capac public author distinguish oblig state assum custom contract frigat oblig public author measur avoid assess light articl treati privatis potenti aid damen commiss acknowledg netherland open procedur competitor awar plan privatis ksg opportun express interest consult report submit netherland confirm damen paid ksg market found neg nlg million nlg million significantli neg price commiss ask independ expert prepar expert opinion report expert criticis element calcul ksg origin report critic consid effect final result larg neutral result expert calcul commiss take view price ksg sold damen element state aid buyer favour assess light rescu restructur aid guidelin doubt measur netherland financ state resourc favour undertak ksg indirectli sharehold damen doubt measur affect trade member state type product ksg manufactur wide trade measur caught definit state aid mean articl treati commiss examin exempt set articl ec treati appli exempt articl serv basi declar aid compat common market aid measur social charact grant individu consum design make good damag caus natur disast except occurr requir order compens econom disadvantag caus divis germani exempt articl ec treati appli measur design promot econom develop area standard live abnorm low underemploy measur design promot execut project common european interest cultur heritag conserv dutch author attempt justifi aid ground preced paragraph part exempt articl concern aid facilit develop econom activ commiss note aid relat amp environment object invest sme clear purpos aid rescu restructur ksg commiss assess aid light rescu restructur aid guidelin part shipbuild regul netherland rescu compani restructur plan concern activ addit activ caught shipbuild regul inextric link naval shipbuild common facil extent common workforc common legal structur assess concern ksg militari activ fact assess rescu aid make distinct measur justifi articl affect commerci dual product explain determin extent restructur measur affect commerci shipbuild scope shipbuild regul articl regul commiss exception rescu restructur aid compat common market provid compli rescu restructur aid guidelin articl lai number addit condit compli section measur assess light rescu restructur aid guidelin assess light shipbuild regul carri section firm difficulti privatis ksg properli consid firm difficulti unabl resourc fund obtain creditor stem loss put busi short term author interven figur annual account show doubt threat bankruptci real explain measur state compar capit inject commerci term rescu aid measur end effect rescu aid full nomin eur million enabl ksg stai afloat time need find buyer work restructur plan rescu restructur aid guidelin set clear condit aid aid consist liquid form loan guarante loan bear normal commerci interest rate subordin loan compli requir addit advanc payment serv purpos loan interest charg aid restrict amount need firm busi commiss view condit fulfil larger amount alloc restructur measur prior privatis addit annual report refer difficult financi situat notwithstand aid provid aid paid time need devis feasibl recoveri plan gener exce month case final privatis absolut condit recoveri plan carri septemb extent delai result fact cabinet agre substanti reduct defenc budget creat uncertainti futur naval procur polici delai caus difficulti encount conclud privatis agreement situat ksg deterior significantli case commiss accept longer period subordin loan origin grant period twelv month realis privatis period reimburs tacitli postpon privatis agreement finalis contrast advanc payment effect extend longer period payment origin schedul lastli aid warrant ground social difficulti undu advers effect industri situat member state militari argument commiss account fact ksg largest employ provinc zeeland uncontrol bankruptci social plan result social difficulti bridg period commiss advers effect industri situat member state limit undu aid settl claim project carri foreign custom conclus subordin loan meet criteria set guidelin addit advanc payment fail meet criteria form period effect repres total rescu aid correspond share naval activ total turnov justifi articl treati rescu aid affect condit competit common market product intend specif militari purpos commiss conclud rescu aid decid decemb compat common market restructur aid aid compon discount end caught definit restructur aid mean point rescu restructur aid guidelin place subordin loan ksg obtain resourc obtain market condit loan form part privatis agreement central govern provinc zeeland damen explain section justifi basi privat investor privat custom behaviour aid compon consist nomin nlg million eur million appli origin subordin loan nlg million eur million grant point confirm fact damen convert nlg million eur million loan equiti capit aid compon advanc payment eur million consid restructur aid purpos period extend complet privatis lastli paragraph expect aid compon interest free loan amount eur million conclud ksg benefit restructur aid total eur million commiss assess aid light criteria set section rescu restructur aid guidelin elig firm explain paragraph ksg constitut firm difficulti mean guidelin restor viabil point rescu restructur aid guidelin commiss find restructur aid compat common market restructur plan restor viabil firm foremost commiss view fact damen bui compani invest signific amount strong indic viabil ksg remain activ restructur plan closur sale ksg core activ remain part section damen tackl underli loss year establish sound basi return profit commiss outlook shipbuild dutch navi yacht construct ship repair good note parti argu market segment mega yacht construct special util vessel encount difficulti contrari unit kingdom state comment market mega yacht grow ship repair damen restructur plan base care assess relev market greatest uncertainti surround futur shipbuild activ state ksg structur problem achiev full capac utilis obtain order fit militari order dutch navi specif plan order outlook uncertain onward damen success attract naval shipbuild order countri remain conclus contract preced year contact negoti commiss note fierc competit segment time realis small number order suffic purpos quot top quot capac case evid suggest damen plan area fail point damen strong market posit special util vessel segment sale organis exception larg shipbuild standard damen forc accept lower profit margin commerci shipbuild possibl incur incident loss rule unduli pessimist regard commerci shipbuild quot structur loss make quot mean rescu restructur aid guidelin commiss conclud assumpt futur oper condit regard reason realist damen restructur plan commiss requisit confid ksg viabil restor avoid undu distort competit point guidelin measur mitig advers effect aid competitor case ksg damen limit advers effect great extent close sell core busi switch commerci shipbuild dynam market segment mega yacht specialis util vessel term employ turnov product level decreas significantli septemb employ fell full time equival turnov declin commiss conclud capac reduct made core busi suffici mitig advers effect aid undu distort competit core busi avoid assess shipbuild ship repair light shipbuild regul set section aid limit minimum amount intens aid limit strict minimum need enabl restructur undertaken light exist financi resourc compani sharehold busi group belong point guidelin case amount aid correspond quot neg price quot damen pai ksg includ liabil outstand contract impli aid expect cover cost restructur ksg resourc inadequ enabl suffici profit realis capit invest remain activ perspect profit forecast contain restructur plan disproportion high commiss investig level ksg liabil note persist financ difficulti prior privatis spite rescu aid bank significantli reduc credit facil state provid addit capit privatis agreement sign privatis net cash flow move sharpli black balanc sheet decemb show cash posit eur million plan eur million correspond payment instal frigat balanc sheet item quot work progress instal quot amount eur million plan eur million financi requir result project reloc surplu cash aggress market distort activ link restructur process damen contribut consist firstli substanti risk guarante finish frigat construct damen convert nlg million eur million subordin loan equiti capit commiss conclud aid limit minimum requir rescu restructur aid guidelin condit point rescu restructur aid guidelin commiss failur implement plan misus aid pursuant point guidelin requir annual report restructur conclus commiss find condit laid rescu restructur aid guidelin compli assess light shipbuild regul view structur difficulti shipbuild sector commiss strict polici restructur aid compani activ sector polici set articl shipbuild regul concern restructur aid aid compli rescu restructur aid guidelin set addit specif condit restructur measur affect commerci shipbuild caught shipbuild regul loss eur million caus attribut commerci shipbuild cost closur core busi settlement outstand claim concern shipbuild sector project bear relat commerci shipbuild activ reloc affect militari shipbuild commerci shipbuild caught shipbuild regul yacht construct activ basi turnov forecast activ commiss attribut cost eur million activ caught shipbuild regul invest yacht construct affect commerci shipbuild caught shipbuild regul expect invest ict infrastructur benefit shipbuild activ includ yacht construct ship repair basi calcul compar effect reloc commiss arriv figur equal cost eur million conclud eur million total restructur cost regard destin shipbuild activ caught shipbuild regul total aid eur million regard favour activ order determin part aid compat common market commiss ascertain condit set shipbuild regul met condit articl indent met ksg grant rescu restructur aid pursuant council regul ec june aid shipyard restructur requir indent articl netherland clear unequivoc undertak rescu restructur aid grant firm legal successor futur indent articl requir genuin irrevers reduct shipbuild ship repair ship convers capac firm concern commensur level aid involv restructur increas capac effect identifi reloc militari activ flush east site entail signific reduct surfac area assembl panel build steel weld pipe activ effect increas effici capac due hall dock main dock flush centr militari frigat close fact princip shipbuild caught shipbuild regul constitut closur commerci shipbuild caught regul period ten year dock state purpos independ damen sixth indent articl part site centr flush includ metr quai sold alongsid main dock ksg construct metr long quai site flush east quai extend metr long pier frigat finish result length quai pier reduc metr appear length pier quai repres bottleneck product period preced aid measur damen demonstr quai pier usabl date recent past demonstr reduct entail capac reduct relat level actual product preced year ship repair restructur entail reduct workforc damen ksg made signific invest ship repair yard product estim eur million annum significantli level damen netherland undertaken limit product event demand trend prove favour expect commiss request notwithstand damen netherland submit accept propos capac reduct mean shipbuild regul basi aforement effect commiss conclud capac reduct commensur aid mean sixth indent articl shipbuild regul aid alloc commerci shipbuild caught regul eur million compat common market conclus subordin loan addit advanc payment constitut state aid mean articl treati constitut rescu aid part caught articl compat common market pursuant rescu restructur aid guidelin privatis agreement ksg share subordin loan transfer damen symbol price state aid compon favour damen subordin loan interest addit advanc subordin loan interest free loan constitut state aid mean articl treati favour ksg fact ksg bankruptci increas cost frigat greater amount aid question affect analysi netherland invok articl treati relev aid regard compat common market pursuant rescu restructur aid guidelin commiss establish restructur plan sound basi restor viabil aid limit minimum undu distort competit avoid activ caught shipbuild regul concern aid attribut activ caught regul eur million compat common market capac reduct commensur part aid recov recipi adopt decis articl privatis agreement netherland damen shipyard group damen state aid pursuant articl ec treati articl eea agreement favour damen measur support restructur koninklijk scheld groep quot ksg quot constitut state aid pursuant articl ec treati articl eea agreement favour ksg articl state aid netherland implement favour ksg attribut activ caught shipbuild regul compat common market articl state aid eur million netherland implement favour ksg attribut activ caught regul ec incompat common market articl netherland measur recov recipi aid refer articl unlawfulli made recipi recoveri effect delai accord procedur nation law provid effect execut decis aid recov includ interest date dispos recipi date recoveri interest calcul basi refer rate calcul grant equival region aid articl netherland submit annual report implement restructur plan period date implement restructur delai articl netherland inform commiss month notif decis measur compli articl decis address kingdom netherland brussel june commiss mario monti member commiss oj footnot http www scheld oj http www damen nl loan provid nederlands investeringsbank financ part ministri econom affair nlg million eur million ministri defenc nlg million eur million delai occur ow uncertainti surround navi equip polici summer govern decid substanti cut defenc budget decid prepar cabinet paper set framework cut achiev paper finalis januari form basi navi equip polici net loan gross eur million partial offset relat corpor tax claim eur million independ expert confirm figur nlg million realist oj footnot defensienota lower hous dutch parliament no addit cost caus creditor prepar deliv basic product frigat condit govern pai debt contract ii increas personnel cost prevent employe leav iii addit cost deliveri frigat iv bankruptci scenario entail year delai result addit cost relat suppli contract frigat higher mainten cost frigat busi secret articl council regul ec june yacht construct absorb capac ksg separ busi requir skill facil base assumpt cost evenli spread period damen netherland provid detail schedul commiss account guarante govern provid supplier custom guarante constitut cost addit sign origin contract clear cost privatis cost bankruptci join case spain commiss ecr rescu aid grant full period entri forc rescu restructur guidelin commiss assess light commun guidelin rescu restructur firm difficulti oj extens guidelin entri forc guidelin publish oj commerci interest rate appli loan aid compon occas transfer damen amount nomin section assess negoti netherland damen ensur proper quot market price quot eur million directli attribut commerci shipbuild activ amount eur million concern commerci militari activ share attribut commerci shipbuild calcul basi commerci product percentag total product period amount eur million discount end turnov forecast includ comment netherland damen incorpor expert studi ksg time privatis figur base damen expect time due dilig investig commiss consid scenario intens yacht construct calcul confirm damen commiss view period reloc began earli effect term capac utilis felt figur post period case reliabl reloc affect yacht construct extent workload exce capac dock refurbish purpos turnov estim nlg million figur order book year realis full refurbish dock higher figur partli realis quot quot militari dock basi assumpt calcul quot top order quot constitut total expect turnov affect reloc true order compris naval shipbuild countri impli percentag total turnov affect reloc commerci shipbuild caught shipbuild regul lower current order book suggest commerci shipbuild activ limit expect time privatis hand commerci shipbuild caught shipbuild regul increas militari order limit commiss estim oj