commiss decis novemb state aid grant germani draiswerk gmbh notifi document number german text 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 procedur letter date august denmark inform commiss state aid articl appear frankfurt allgemein zeitung august appar grant firm draiswerk gmbh mannheim letter date septemb commiss ask germani comment germani repli letter date februari confirm transact involv public fund place commiss view transact state aid cover approv aid scheme matter regist march quot unnotifi aid quot letter date march commiss ask germani suppli inform assess restructur aid germani repli request june commiss request inform letter date juli import detail suppli letter septemb germani inform previous submit revis refer made transact letter date januari commiss ask germani clarifi point germani repli request letter date februari letter date march commiss inform germani decid initi proceed articl ec treati respect unnotifi measur commiss notic effect publish offici journal european commun commiss call interest parti submit comment commiss receiv comment interest parti detail descript measur compani sever liquid difficulti mannheim citi author arrang negoti bank owner firm busi parti involv decid adopt restructur measur avert initi bankruptci proceed decis initi articl proceed commiss note measur august mannheim citi author put loan dem million ecu million ten month interest rate august landeskreditbank baden württemberg hereinaft refer quot lakra quot put defici guarante respect dem million ecu million origin schedul expir june extend june year june guarante subject fee annual charg outstand guarante amount public bank sparkass mannheim grant loan secur abovement guarante form overdraft facil dem million ecu million initi interest rate guarante loan dem million ecu million interest rate loan origin schedul expir june subsequ extend june sparkass mannheim firm previou lender august mannheim citi author purchas plot land sharehold privat estat sharehold inject proce sale total dem million ecu million firm final contribut restructur decis initi proceed commiss view basi inform provid germani demonstr restructur measur fulfil condit laid commun guidelin state aid rescu restructur firm difficulti hereinaft refer quot guidelin quot commiss preliminari view loan grant mannheim citi author guarante grant lakra constitut state aid mean articl ec treati transact unlaw germani fail notifi accord articl ec treati commiss consid loan grant sparkass mannheim transfer price sale land state aid element comment germani germani submit comment commiss decis initi proceed letter date juli germani point submit report deutsch gesellschaft für mittelstandsberatung mbh quot dgm quot drawn august germani explain restructur programm design demonstr compani abil achiev success restructur germani provid detail comprehens restructur plan drawn decemb comprehens busi plan drawn draiswerk annual statement account draiswerk monthli cash flow forecast profit loss account forecast balanc sheet forecast year germani take view restructur plan realist coher germani forward letter draiswerk bank deutsch bank june dresdner bank june sparkass mannheim june letter bank gave favour opinion draiswerk prospect germani point loan dem million ecu million grant mannheim citi author matur month repaid interest schedul end germani argu compani difficulti amount loan regard state aid benefit interest save cover de minimi rule germani state grant guarante lakra cover guidelin grant guarante busi land baden württemberg richtlinien fur die übernahm von bürgschaften de land baden württemberg für die gewerblich wirtschaft germani submit detail workforc figur year show time guarante extend draiswerk gmbh employe threshold germani undertaken notifi guarante individu germani explain draiswerk engag amp firm metzler find investor germani forward report drawn metzler june germani point investor benefici compani restructur stress condit sine qua germani provid letter sparkass mannheim date june bank state act accord quot market economi investor principl quot provid loan draiswerk germani view transfer price sale land state aid element provid evid estim mannheim district land valuat committe gutachterausschuss fur die ermittlung von grundstückswerten de stadtkreis mannheim germani submit part comment statement made draiswerk june effect convinc restructur success assess commiss assess case light inform germani letter date juli recipi firm draiswerk gmbh situat land baden württemberg assist area draiswerk emploi averag worker turnov dem million ecu million end year balanc sheet total dem million ecu million definit set commiss recommend april definit small medium size enterpris compani larg enterpris due fact workforc exceed threshold employe sharehold member famili sold share compani employe draiswerk manufactur special machineri product area dispers micro wet mill machineri mix reaction purpos firm suppli chemic coat food paper pharmaceut deterg ceram industri half record heavi loss main lender lost confid firm juli call loan consequ credit institut call loan draiswerk insolv time draiswerk compani difficulti state aid draiswerk oper sector special machineri industri number competitor eea product area dispers micro wet mill account approxim compani total turnov draiswerk main competitor swiss compani bühler ag german compani erich netzsch gmbh amp hold kg competitor subsidiari member state product area machineri mix reaction purpos account compani turnov draiswerk main competitor product area german compani gebrüder lodig maschinenbau gmbh subsidiari member state loan grant mannheim citi author guarante grant lakra provid govern bodi measur financ state resourc loan guarante provid intent enabl ail firm remain busi measur draiswerk favour posit competitor state measur liabl affect econom posit competitor member state loan grant mannheim citi author guarante grant lakra distort threaten distort trade member state constitut state aid mean articl ec treati articl eea agreement mannheim citi author grant restructur loan draiswerk approv scheme commiss agre germani view amount loan constitut state aid benefit interest save cover de minimi rule line long stand commiss practic loan face amount dem million ecu million regard state aid compani difficulti rais loan financi market accord commiss notic de minimi rule state aid amount dem million ecu million exce de minimi threshold ecu year period commiss remind germani loan cumul restructur measur notabl guarante grant lakra germani notifi loan commiss pursuant articl ec treati germani fail compli requir measur unlaw state own bank lakra provid guarante guidelin grant guarante busi land baden württemberg scheme approv commiss letter june context proceed case germani undertook letter date februari notifi individu guarante grant scheme firm difficulti employe compani annual report draiswerk employe commiss inform guarante pursuant articl ec treati lakra grant extens guarante june number employe threshold extens durat guarante link initi grant guarante draiswerk employe commiss share germani view extens guarante lakra cover guidelin grant guarante busi land baden württemberg extens requir individu notif pursuant articl ec treati germani fail compli requir initi provis guarante extens unlaw germani state sparkass mannheim draiswerk bank deutsch bank dresdner bank form bank consortium provis loan made condit bank act unanim sparkass mannheim provid loan condit bank agre open credit line sparkass mannheim continu provid loan bank extend credit line draiswerk prospect justifi provis fund draiswerk sparkass mannheim bank base grant loan restructur plan drawn draiswerk busi consult firm dgm sparkass mannheim repres supervisori board draiswerk sound knowledg compani financi strateg posit final loan provid sparkass mannheim secur guarante grant lakra light commiss conclud financ activ sparkass mannheim consist market economi investor principl constitut state aid mean articl ec treati germani provid evid transfer price dem million ecu million mannheim citi author paid plot land sharehold base estim mannheim district land valuat committe commiss review estim verifi carri line rule gener applic land valuat valuer lower prudent gross rental ertragswert asset sachwert take account aspect commiss conclud price correspond market price state aid element mean articl ec treati exempt articl ec treati articl eea agreement lai principl aid characterist incompat common market articl ec treati articl eea agreement list exempt aid found compat common market commiss examin state aid dem million ecu million dem million ecu million loan mannheim citi author guarante lakra dem million ecu million deem compat common market exempt exempt set articl ec treati articl eea agreement appli aid aid social charact grant individu consum serv make good damag caus natur disast grant economi area feder republ germani affect divis germani exempt set articl ec treati articl eea agreement region aspect exempt provid articl ec treati articl eea agreement relev firm locat assist area exempt provid articl ec treati articl eea agreement concern commiss found measur question fulfil criteria commiss appli project common european interest aid intend remedi disturb economi member state exempt provid articl ec treati articl eea agreement similarli appli aid design promot cultur heritag conserv part exempt provid articl ec treati articl eea agreement appli aid contribut develop econom activ advers affect trade condit extent contrari common interest commun guidelin draiswerk compani difficulti loan grant mannheim citi author guarante provid lakra constitut restructur aid commun guidelin state aid rescu restructur firm difficulti set condit restructur aid consid compat common market guidelin restructur place context feasibl coher reach plan design restor firm long term viabil reason time scale basi realist assumpt futur oper condit restructur plan account inter alia circumst give rise firm difficulti market suppli demand relev product expect develop specif strength weak firm orderli transit firm structur viabl long term prospect enabl oper strength resourc requir state assist restructur involv reorganis rationalis firm activ effici basi typic involv withdraw activ longer viabl loss make restructur exist activ made competit possibl develop diversif viabl activ financi restructur accompani physic restructur section commun guidelin commiss examin restructur satisfi condit restor long term viabil compani reason timescal undu distort competit aid avoid thirdli aid proport restructur cost benefit long term viabil letter date juli germani submit realist coher reach restructur plan drawn draiswerk busi consult firm dgm restructur programm take account circumst give rise firm difficulti notabl unfavour cost structur insuffici cost transpar unsound financi posit order improv cost structur draiswerk primarili reduc staff cost turnov provid restructur plan draiswerk employe agre signific reduct wage hour draiswerk reduc workforc person result wage cost dem million ecu million lower reduct addit draiswerk number measur improv effici product process order improv cost transpar draiswerk significantli upgrad cost account cost control method result draiswerk gave produc turn kei plant reduc rang product decid concentr compani core busi restor compani financi posit primarili financ sharehold employe measur compani sharehold issu letter subordin sharehold loan dem million ecu million begin august time gustav eirich kg own sharehold issu letter subordin loan dem million ecu million final sharehold issu letter subordin loan dem million ecu million final sharehold inject proce sale land total dem million ecu million firm final contribut restructur novemb employe provid compani subordin interest free loan dem ecu draiswerk reduc account receiv sale servic dem million ecu million end dem million ecu million end stock reduc dem million ecu million dem million ecu million period final mannheim citi author provid loan dem million ecu million lakra provid guarante dem million ecu million restructur accompani sharehold chang draiswerk employe firm dem sharehold execut director experi restructur measur appoint manag board sharehold draiswerk decid find strateg investor draiswerk entrust task find investor compani metzler gmbh commiss take note fact germani investor compani strateg posit condit sine qua success restructur commiss examin forecast balanc sheet profit loss account cash flow figur drawn period year assess restructur measur result restor draiswerk viabil commiss note forecast present detail statement underli assumpt line strategi abandon loss make activ concentr compani core busi draiswerk reduc output compar previou year commiss note reduct output oper result posit net result year neg physic restructur measur amount dem million ecu million plan draiswerk turn profit draiswerk expect achiev dem million ecu million posit result ordinari activ turnov forecast draiswerk increas profit dem million ecu million year turnov figur impli compani highli profit competit year draiswerk forecast expect increas turnov averag year year continu reduct staff expenditur turnov year cost item remain stabl restructur effect reduct staff expenditur improv product process commiss consid assumpt optimist achiev commiss note draiswerk provid detail geograph breakdown turnov busi area show significantli reduc turnov expect asia result prevail econom crisi currenc depreci compani neg equiti capit germani concern perspect compani consider hidden reserv dem million ecu million confirm account firm schitag ernst amp young draiswerk initi bankruptci proceed plan draiswerk retain futur profit polici result increas equiti capit dem million ecu million balanc sheet total year forecast draiswerk plan signific invest year draiswerk reduc liabil achiev sound financi posit year commiss take view forecast draiswerk viabl long term prospect oper strength resourc requir state assist tabl summaris main factor commiss analysi gt tabl gt gt tabl gt commiss note draiswerk commit implement restructur plan commiss note draiswerk bank deutsch bank dresdner bank sparkass mannheim favour opinion draiswerk prospect express readi provid loan avoid undu distort competit aid commiss examin measur set advers effect restructur aid competitor restructur aid form loan grant mannheim citi author guarante grant lakra gener distort effect aid affect market draiswerk busi restructur aid reduc draiswerk financi expenditur effect commiss review market data market report provid germani product area dispers micro wet mill market demand expect expand come year product area machineri mix reaction purpos market demand highli depend invest chemic industri good growth prospect excess capac evid product area view underlin fact commiss receiv comment parti state point ii commun guidelin structur excess product capac relev market commun serv recipi commiss requir reduct capac return aid commiss note draiswerk abandon activ reduc product rang account fact draiswerk present sme hold small market share relev market main competitor bühler ag erich netzsch gmbh amp hold kg gebrüder lödige maschinenbau gmbh larger draiswerk term turnov staff effect commiss note draiswerk paid interest month dem million ecu million loan grant mannheim citi author interest rate refer rate germani advantag draiswerk lower interest rate loan grant mannheim citi author amount dem ecu commiss compar interest rate loan higher interest rate charg sparkass mannheim advantag term reduc financi expenditur small dem ecu guarante provid lakra commiss note draiswerk paid fee annual charg outstand guarante amount fee compar interest rate dem million ecu million guarante loan sparkass mannheim provid draiswerk lakra sparkass mannheim share risk equal commiss assum lakra fee market rate result advantag draiswerk dem ecu guarante durat month amount loan dem million ecu million guarante amount dem million ecu million dem million constitut state aid compani difficulti receiv loan guarante financi market commiss take view advantag confer loan guarante form reduc financi charg small turnov notic affect compani oper cost profit evid excess capac compani market share small abandon activ commiss consid measur offset advers effect aid competitor aid proport restructur cost benefit commiss examin aid limit minimum need compani restructur restructur aid help eas draiswerk shortag liquid trigger heavi loss previou year draiswerk record loss ordinari activ dem million ecu million turnov record loss dem million ecu million turnov disclos loss dem million ecu million physic restructur cost similar amount loss reduc draiswerk liquid approxim dem million dem million period commiss assess cash flow calcul balanc sheet forecast show dem million ecu million loan grant mannheim citi author guarante provid lakra dem million ecu million credit line made sparkass mannheim lead cash surplu limit amount need draiswerk busi enabl financ restructur measur commiss note draiswerk benefit dem million ecu million ten month reimburs loan june time compani financi posit weak instanc compani neg equiti capit guarante provid june obtain interim financ ordinari activ financi market precondit remain busi commiss take account fact restructur aid accompani signific contribut sharehold dem million ecu million sharehold dem ecu note begin august sharehold issu letter subordin sharehold loan dem million ecu million gustav eirich kg own sharehold issu letter subordin loan dem million ecu million sharehold inject proce sale land total dem million ecu million firm final contribut restructur novemb employe sharehold provid compani subordin interest free loan dem ecu employe agre signific wage reduct staff cutback result staff cost dem million ecu million lower commiss consid state aid measur proport restructur cost contribut sharehold conclus commiss consid loan guarante grant unlawfulli breach articl ec treati commiss take account fact draiswerk receiv restructur aid time loan grant mannheim citi author guarante provid lakra meet condit laid commun guidelin firm difficulti restructur aid restor long term viabil compani reason timescal avoid undu distort competit proport restructur cost benefit commiss conclud state aid contribut develop econom activ advers affect trade condit extent contrari common interest commiss decid state aid deem compat common market part exempt provid articl ec treati articl eea agreement commiss request germani provid detail annual report order demonstr restructur plan implement properli adopt decis articl state aid germani grant draiswerk form dem million ecu million loan provid mannheim citi author guarante provid lakra compat common market articl germani submit detail annual report commiss order demonstr restructur plan implement properli articl decis address feder republ germani brussel novemb commiss karel van miert member commiss oj oj oj oj letter draiswerk bank gave favour opinion firm prospect explain commiss consid restructur plan feasibl coher reach plan design restor firm long term viabil reason time scale footnot