commiss decis juli aid grant spanish author occas sale cenemesa cademesa conelec select asset asea brown boveri spanish text authent eec commiss european commun regard treati establish european econom commun subparagraph articl thereof notic accord articl interest parti submit comment regard comment call cenemesa group ccc form privat own compani aim product heavi electr equip constructora nacion de maquinaria eléctrica sa cenemesa catalana de maquinaria eléctrica sa cademesa constructora nacion de equipo eléctrico sa conelec compani oper industri plant situat spanish autonom commun compani factori autonom commun cenemesa córdoba erándio vizcaya reinosa madrid valladolid andalusia basqu countri cantabria madrid castil león cademesa sabadel barcelona catalonia conelec galindo vizcaya trápaga vizcaya basqu countri basqu countri abovement plant own oper subsidiari transnat group asea brown boveri hereinaft refer abb section decis end abovement industri facil repres spanish product capac electr equip sector emploi worker constitut turn global sector workforc basic product rang cover power transform gener industri traction motor switchgear format ccc group place middl transnat compani decid abandon industri activ spain result long last crisi experienc worldwid capit good sector octob consequ continu financi difficulti westinghous española sa spanish subsidiari transnat group westinghous electr file court applic suspens payment time repres transnat initi talk spanish administr discuss plan sell spanish subsidiari liquid discuss westinghous electr agre sell stake spanish subsidiari token price pta share arbobyl british privat held compani special take troubl compani transact westinghous española sa chang cenemesa decemb transnat group brown boveri sold sharehold spanish subsidiari brown boveri de españa sa cenemesa pta million brown boveri de españa sa chang cademesa final decemb cenemesa bought divers sharehold capit conelec note conelec corpor gener eléctrica española sa suspens payment parent compani transnat group gener electr dilut control stake convert outstand creditor debt capit result abovement transact end privat compani arbobyl directli indirectli control cenemesa cademesa conelec respons ultim sharehold ccc group present consecut restructur project spanish ministri industri view obtain public assist implement meantim financi posit ccc ceas deterior period group cumul global loss pta million turnov pass pta million pta million ii complaint competitor ccc letter date april commiss request spanish author inform aid grant prior date compani ccc group spanish author request inform commiss potenti commit made grant futur aid respect ccc spanish author answer letter date juli octob inform commiss govern autonom commun grant limit aid ccc prior access spain commun scheme duli notifi commiss access spanish author state central govern grant aid group access year complaint competitor ccc drew commiss attent aid estim pta million spanish central govern govern autonom commun allegedli grant cost major reduct workforc ccc letter date march commiss request spanish author submit relev inform alleg public intervent telex spanish author inform commiss commun octob central govern govern autonom commun grant aid ccc spanish author aid measur socio labour natur term defin time studi letter decemb address commiss complain insist truth intervent set previou complaint dai meet held januari repres spanish ministri industri member cabinet commission respons competit polici rais specif case statement seek commiss advic spanish repres briefli main line negoti spanish central author carri connect ccc group spanish author view implement term negoti involv state aid element spanish author provid inform remark spanish repres provid document fact oral letter date januari commiss request spanish author send relev inform spanish author provid inform letter date februari april descript inform section iii decis note februari technic meet place repres spanish author commiss meet held spanish minist industri commission respons competit polici discuss ccc case meet view complex case agre spanish author request provid inform clarifi unclear point public intervent full assess commiss parti agre commiss analys repli basi decid unexpectedli contrari abovement agre procedur pursu assess case short letter date june spanish author invok court justic judgment decemb case inform commiss implement agreement settlement debt ccc group section iii decis respons spanish author commun letter date june sign commission respons competit polici commiss inform spanish minist industri delai spanish govern confront commiss fait accompli contrari agre procedur assess intervent letter commiss request inform parti previous agre letter date juli spanish minist industri refus repli commiss request inform letter spanish minist acknowledg agre commission posit commiss request inform enabl carri full assess intervent justifi implement public intervent reason urgenc put end unten situat experienc compani ccc group face situat juli commiss decid initi procedur provid articl eec treati respect intervent spanish author respect cenemesa conelec cademesa occas sale asset abb commiss consid intervent appear involv state aid element mean articl aid element qualifi exempt incompat provid articl decemb spain introduc court justic applic annul commiss decis initi procedur articl case kingdom spain commiss iii previous mention section ii decis commiss decid initi proceed spanish author provid inform letter date februari april letter februari spanish author inform commiss spite fact ccc group fail present accept restructur programm spanish ministri industri section decis decemb spanish central govern grant packag extraordinari aid intend cover cost reduct job group global workforc legal basi aid award aid scheme establish law juli convers reindustri spanish author state aid effect decid consciou labour measur ensur viabil ccc view activ presenc sharehold capabl contribut financi resourc technolog transfer requir rescu group remark abovement inform glare contradict statement made spanish author previou commun commiss telex messag section ii made date spanish author grant aid ccc aid measur defin studi letter februari explain view find sharehold spanish ministri industri state owner group septemb made approach multin compani thought interest bui ccc compani contact alsthom abb mitsubishi siemen inform submit negoti august spanish author final accept offer abb control activ ccc term ccc wound group asset sold abb bui industri asset pta million remaind adjudg free labour charg public creditor labour restructur plan negoti trade union implement product capac group reduc close factori erandio valladolid connect labour restructur plan spanish author agreement trade union abb conclud provid abb emploi worker ccc state put effect aid approv decemb cover cost earli retir scheme worker pension fund redund creat cut back job elig abovement earli retir scheme achiev mean incent financ abb spanish author explain deal abb make attain object pursu ensur futur viabil industri activ ccc group maxim recoveri debt public creditor concern respect commiss inform decemb ccc group outstand debt state pta million broken pta million payabl nation social secur agenc pta million payabl treasuri autonom commun pta million payabl central treasuri pta million payabl state own bank banco de crédito industri letter februari spanish author pta million paid abb doubl offer made multin compani ccc offer spanish author provid detail bid appar reject clarifi remain asset abb sold proce paid public creditor estim sale bring pta million hand explain trade union accept term deal abb earli retir worker benefit aid approv spanish central govern law state cost state aid law pta million paid period spanish author stress aid social paid directli worker pass compani account state gener fiscal legisl appli transact pursuant deal abb final remark contrari inform transmit previou commun spanish author factori erandio close letter date april spanish author transmit commiss copi draft document titl agreement liquid attribut asset ccc repay debt public creditor signatori draft settlement ccc abb state term abb spanish state assum oblig public creditor ccc waiv claim ccc pta million renounc unilater mortgag seizur right ccc asset abb acquir select fix asset ccc free charg current asset liabil pta million emploi member ccc labour forc transfer technolog industri activ factori invest pta million year industri plan abb present spanish author draft settlement agreement establish abb retain ownership asset acquir period shorter year hand claus document draft obscur word pta million paid abb select asset public creditor destin cover liabil relat workforc contrast previou letter spanish author commun factori ccc erandio valladolid close complet settlement agreement final remark part draft settlement agreement interest compani ccc group repres oper subsidiari abb creat end iv commiss decis initi procedur articl notifi spanish govern letter august letter invit spanish govern submit observ provid commiss complet inform enabl fulli assess eventu compat aid element involv spanish author intervent commiss reiter request spanish govern answer question previous put letter june question intend ascertain essenti element public intervent respect spanish author submit inform detail provid moment insuffici properli judg intervent question commiss request inform aid grant envisag autonom local author copi correspond bidder ccc memorandum understand abb ident control ownership interest role plai compani negoti purchas ccc commit kind made parti involv negoti state owner purchas trade union futur restructur industri plan purchas indic present product capac ccc plant forecast year note case aid compani difficulti element crucial import judg ultim compat common market public intervent member state interest parti inform commiss decis public offici journal european commun octob text letter spanish govern spanish govern submit observ letter date octob spanish govern state commun made fulfil gener duti collabor commun institut accept legal initi procedur spanish govern question legal claim intervent duli notifi commiss decis month submiss inform observ spanish govern public intervent involv case regard singl oper consist extrajudici agreement asset debtor compani sold pai debt peculiar agreement involv public institut spanish legisl requir fulfil special procedur requir issu judgment spanish state council approv royal decre addit inform request commiss spanish govern stress commiss irrelev assess case notwithstand spanish govern submit addit detail spanish commun contain copi royal decre june spanish govern author settlement agreement ccc abb state copi agreement sign parti juli contain copi document request commiss previous receiv text agreement sign decemb abb trade union state distribut cost labour forc restructur ccc copi document titl industri plan present abb spanish author inform clarifi essenti point public intervent obscur ambigu open procedur articl respect inform intervent parti involv sale asset ccc respond previous agre strategi spanish author abb aim rescu industri activ compani attempt cut legal bond purchas asset ccc order avoid paper potenti liabil aris futur strategi put practic histor sequenc abb creat esen uno sa carri negoti control ccc purpos transact contrari inform previous submit spanish govern compani contact ccc offer abb present firm offer potenti bidder withdrawn negoti accept spanish govern august abb offer control ccc industri activ abb creat wholli own oper subsidiari call esen uno sa subsidiari subsequ empow ccc repres compani negoti formal implement compromis settlement point spanish author esen uno sa held option purchas ccc share token price pta remark case share ccc bought abb group effect control ccc subsidiari esen uno compani repres interest ccc abb negoti spanish author import remark unusu charact abovement situat demonstr intent charact strategi conceiv spanish author abb interest ccc negoti sell industri asset ultim repres subsidiari abb compani suppos bui ultim separ person seller buyer patent respect aid labour restructur point show degre particip abb oper agreement trade union main factor endang viabil industri activ ccc fact respect compani overstaf order tackl problem esen uno behalf abb spanish central author exclus intervent ccc initi negoti trade union make major reduct ccc workforc result decemb sign agreement term worker ccc oppos abb plan control ccc industri activ abb emploi worker total repres ccc global labour forc financ compens dismiss worker elig aid aid scheme law section iii decis letter februari spanish author particip state financ pension fund ccc redund state implement govern decis decemb section iii decis financ earli retir cost worker guarante full unemploy benefit year addit worker dismiss mean incent right enjoi benefit spanish gener legisl financ abovement pension fund redund final stress ccc particip negoti reduc workforc level industri plant question compromis settlement labour problem solv factor endang viabil ccc group technic bankruptci pai outstand liabil respect spanish author state decemb consolid financi posit group show neg net worth pta million state princip creditor aforement claim pta million debt secur mean mortgag anotación preventiva de embargo asset ccc favour state order put end problem juli esen uno sa fictiv subsidiari abb behalf ccc abb state sign compromis settl ccc debt term mention section iii decis remark text agreement sign transmit spanish govern initi procedur made clear time pta million offer abb select asset receiv state public creditor ccc amount appar repres maximum amount abb contribut financ commit agreement sign trade union reduct job incent particip pension fund pta million receiv ccc partial pai worker commit assum abb agreement trade union point text agreement clarifi select asset ccc form fix asset except margin piec land build bought subsidiari abb spain newli creat end abb energía sa abb generación sa abb metrón sa abb industria sa abb motor sa abb nortem sa abb sabadel sa abb galindo sa abb trafodi sa abb subestacion sa abb trafo sa abb trafonor sa abb trafosur sa abb tracción sa abb servic sa abb imasd sa abb uno sa abb do sa abb tre sa abb cuatro sa abb cinco sa abb sei sa abb siet sa settlement agreement ccc group retain ownership margin piec land build select abb note respect text agreement provid asset select abb sold progress supervis esen uno fact prove ultim effect control ccc abb proce sale eventu state public creditor transact ccc final left empti compani wind purpos industri plan previous observ spanish govern contain copi text call industri plan present abb accept spanish author addit descript abovement strategi control industri activ ccc plan provid time inform industri action undertaken futur abb state subsidiari abb bought asset ccc commit invest pta million year figur text call industri plan establish gener term number object attain invest royal decre boletín ofici del estado june spite fact previous request commiss text call industri plan spanish observ explan precis natur invest pta million quantif concret futur effect product capac real output financi oper indic factori view fact spanish author partial repli question put commiss letter june letter date novemb commiss request spanish author complet repli furnish addit explan observ submit notabl spanish author provid inform request copi purchas bid present ccc correspond bidder copi correspond buyer negoti annex settlement agreement futur detail restructur industri plan purchas letter commiss point moment spanish author advanc justif commiss judg ultim compat aid involv public intervent respect commiss stress submiss detail restructur programm industri activ ccc essenti requir carri assess note commiss carri assess compat aid rescu restructur industri activ provid member state concern detail quantifi inform restructur measur propos effect absenc inform spanish author fail provid commiss unabl determin necess proportion aid distort effect competit condit spanish author repli letter decemb state opinion answer full question put commiss previou repli consid complet reiter intervent public author connect ccc involv state aid element settlement agreement spanish author complex oper mutual concess public entiti privat creditor intend maximum recoveri claim conclud settlement agreement consid waiv debt spanish author point addit compromis settlement constitut gener measur uniform applic spain intend aid enterpris fall scope applic articl stress commerci practic recommend adopt extrajudici settlement order prevent judici bankruptci proceed entail liquid asset end busi oper insolv debtor spanish author drew commiss attent similar procedur sell ccc asset provis french law januari judici bankruptci proceed articl law proceed intend safeguard compani oper employ liquid liabil spanish author view object coincid pursu settlement agreement ccc debt respect commiss formal decis state aid case french compani mfl consid assist grant redund produc result sale asset compani judici bankrupci proceed constitut aid buyer asset spanish author final addit commiss consid capit gain gener sale asset judici bankrupci proceed abovement mfl case case isoroi pinault constitut aid spanish author arriv conclus jurid admiss receiv treatment accord abovement french case appar differ legal form settlement agreement ccc proceed french law restructur programm industri activ ccc spanish author provid commiss inform futur invest abb state agreement abb commit futur level product capac reduct labour forc peopl implicitli demonstr substanti adjust product capac place opinion factor impli capac reduct close factori erandio estim manufactur spanish product altern spanish author sole condit impos abb implement industri measur laid text settlement agreement final mention document transmit commiss letter decemb spanish author enclos copi letter date juli abb spanish ministri industri letter abb confirm term group bui asset link industri activ ccc condit abb requir state cover indemn pension fund complementari social oblig relat redund meantim public creditor ccc foreclos charg seizur right ccc asset lastli public creditor ultim waiv right claim outstand debt vi vi ccc subsidiari abb creat bui asset letter contain addit account book valu june asset ccc document asset abb bought ccc pta million account pta million part select asset ccc subsequ sale favour public creditor account pta million market estim abb pta million document factori erandio state spanish author close show machineri equip factori appar abb repli specif question put commiss spanish author state abb benefit special fiscal treatment transact aris bui ccc asset hand respect claus includ settlement agreement provid buyer ccc asset affect incid relat past outstand debt event eventu recoveri order commiss commun law appli convent agreement extrajudici agreement discuss prevent applic connect commiss remark applic eec treati exempt spanish author compat alleg aid issu ultim found provis articl eec treati respect emphas reduct ccc labour forc place factori locat andalusia basqu countri develop region spain affect process industri declin stress major ccc factori locat area qualifi region aid factori córdoba valladolid region elig articl trápaga galindo reinosa articl spanish author view circumst principl econom social cohes establish articl eec treati protocol act access spain portug point possibl applic abovement except incompat subsequ contact spanish author letter date june juli novemb januari februari abb forward commiss detail inform restructur programm busi ccc own subsidiari spain section viii decis spanish author claim framework procedur articl public intervent place occas sale asset ccc term agreement settl outstand debt compani consid normal case applic gener measur uniform applic spain fall scope applic articl contrari standpoint commiss consid waiv debt extraordinari assumpt labour restructur cost liabl state aid element mean articl public intervent question deviat normal behaviour privat reason section vi public creditor circumst similar present ccc case fall framework gener measur uniform applic spain waiv debt remark spanish law state institut principl allow waiv scale debt respect debtor compani fact articl spanish gener budgetari law amend law septemb state allow waiv fiscal claim judici extrajudici agreement allow refer question arbitr approv govern advic state council public creditor spain principl oblig request compulsori declar bankruptci debtor claim outstand debt principl privat creditor order facilit recoveri debt spanish gener legisl special claim proceed public institut rank preferenti creditor contrast gener appli action spanish author expressli state commiss intention avoid claim ccc outstand debt order forc ccc bankrupt remark event opt settlement agreement term bargain abb public creditor renounc recoveri higher proport debt recov section vi fact reveal extraordinari charact intervent deliber intent rescu industri activ ccc assum part cost restructur note contrari posit spanish author abovement articl spanish gener budgetari law creat categori receivership bankruptci proceed empow state waiv fiscal claim extraordinari situat provid procedur step respect view extraordinari charact behaviour contrari public interest mean spanish state waiv fiscal claim receipt advic state council principl act legal spanish legisl obviou state principl act principl contain legisl viewpoint commun law waiver debt member state condit constitut aid articl line behaviour privat creditor oper normal market economi condit final mention case abovement articl give power state waiv credit state own bank waiv debt nation social secur agenc pta million pta million ccc case section iii decis assumpt labour restructur cost obviou state creditor compani principl bound pai labour restructur measur hand intervent decid law constitut aid scheme recogn spanish author judg global term abnorm behaviour state contrari privat creditor evid state renounc claim debt financ labour restructur cost industri activ oper conclus public intervent assess involv financi cost state consid gener measur fact explain section vi decis waiver outstand debt settlement agreement ultim base principl contractu freedom entrust spanish civil code assumpt labour restructur cost recogn aid scheme save industri activ ccc dissappear intention allow continu oper control abb vi examin intervent spanish author commiss check extent public intervent aid element mean articl eec treati decis juli initi investig procedur articl commiss consid intervent liabl state aid element waiver debt pta million viewpoint ration market privat investor waiver debt favour debtor make sens compar altern option action creditor highest proport recoveri claim take consider posit public author vi vi ccc group preferenti creditor claim secur mortgag anotación preventiva de embargo compani fix asset section iv ccc group insolv public author recov amount equival proce piecem sale pledg asset net realiz cost foreclos right charg term settlement agreement section iii iv public creditor ccc waiv debt pta million receiv proce sale asset select abb asset written account june pta million bring pta million priori estim spanish author contrast recoveri procedur abovement secur right held remain asset public creditor obtain moni respect asset select abb written account june pta million fact demonstr contrari content spanish author behaviour public creditor settlement agreement nil recoveri connect asset select abb extraordinari assumpt labour restructur cost respond aim state maxim recoveri claim privat creditor similar circumst set social region polici sector consider consciou intent public author rescu industri activ ccc prevent bankruptci note respect spanish author confirm observ ccc bankrupt industri activ disappear public creditor foreclos charg compani asset section iv light forego consider commiss conclud waiver public creditor outstand debt ccc pta million minu proce state obtain sale asset select abb constitut aid ongo industri activ ccc renounc collect amount equival abovement net waiver public author sign settlement agreement save industri activ ccc disappear make continu oper concern control abb respect note industri activ carri subsidiari abb mention section iv aid spanish author compani deliber succeed ccc group ownership industri asset bear burden cumul liabil aid charact intervent favour relev subsidiari abb evidenc fact debt waiv secur mortgag anotación preventiva de embargo ccc fix asset circumst state waiv debt ccc simultan renounc right asset pledg secur repay relev subsidiari abb oblig circumst honour debt owner pledg asset coverag cost connect labour restructur programm estim extraordinari cost state pta million trade union abb state agre decemb long negoti abb emploi total worker ccc group section iii decis abb state continu negoti decid share cost financ labour forc reduct peopl implicit agreement compromis final reach provid abb pai pta million cost state cover remaind provis aid scheme establish law undertak abb abovement arrang set claus settlement agreement sign juli abb paid pta million includ vat ccc asset group select pursuant word claus ccc agre amount financ undertak abb accept agreement trade union practic meant pta million part pai redund cost relat worker qualifi aid envisag aid scheme law part order make dismiss remain worker cost abb state agre implement aid approv spanish govern decemb aid scheme law section iii decis intervent state financ cost relat earli retir abovement worker ccc note aid scheme law establish possibl earli retir extraordinari benefit worker older year compani subject restructur law spanish author state budget alloc central govern law worker ccc question pta million inform prove public intervent discuss plai kei role rescu industri activ ccc made reach agreement worker avoid litig forc ccc judici bankruptci proceed note ccc unabl financ sever compens respect redund practic allow abb pursu industri activ substanti reduc workforc spanish author recogn section iii decis absenc earli retir scheme worker ccc accept term agreement abb group accept labour restructur cost excess pta million effect paid dismiss worker stress agreement worker negoti conclud state abb particip ccc show degre involv abb oper event pta million repres aid continu activ ccc abb benefit earli retir scheme put practic reduc workforc peopl abovement figur repres time cost state earli retir scheme monei receiv worker intervent side intervent respect worker reveal aid element mean articl concern aid undertak product good order establish aid effect receiv industri activ question normal circumst abovement worker dismiss paid minimum sever pai entitl spanish gener legisl respect articl law march estatuto de lo trabajador worker made redund technolog econom reason act god entitl receiv indemn equival dai salari year senior maximum month coverag state cost relat earli retir worker ccc older year involv aid element equival total abovement minimum legal indemn payabl worker dismiss absenc state intervent issu identif beneficiari aid quantifi obviou appar beneficiari ongo industri activ ccc control ownership abb competit posit industri activ larg reinforc reliev substanti financi burden term redund worker hand basi inform commiss note public intervent question design agre advanc state abb particip ccc facilit abb industri activ aid state commiss conclud coverag state cost relat earli retir worker ccc older year involv aid element abb equival total minimum legal indemn worker receiv dismiss absenc state intervent remark absenc state intervent bankruptci ccc prevent abb paid compens worker ccc ccc insolv recal previous explain abb agre pai higher sever pai worker ccc younger year elig aid state aid scheme establish law final note present aid element consequ agreement worker sign state abb particip ccc parti decid share cost reduc workforc industri plant abb oper potenti state aid element involv term dispos ccc asset reduc sale price fiscal advantag commit place public order commun commiss spanish author offici state nation gener tax regul appli transact involv sale ccc asset buyer asset benefit físcal reduct exempt hand spanish author state state agre abb commit engag establish settlement agreement respect commiss verifi text agreement commit place futur public order abb compani final inform submit spanish author appear establish sale ccc asset place privat own compani ccc abb asset own state aid reduc sale price asset belong state principl case price final fix transfer ownership asset ccc privat group concern alter result aid measur grant state econom agent interven transact identifi section price chang constitut aid element logic consequ previous identifi aid element observ spanish author respect similar present state aid case characterist case assess commiss past french compani mfl isoroi pinault note ccc case commiss establish spanish author exercis discret waiv debt compani special case mfl isoroi pinault case commiss decis french author waiv debt circumst commiss object intervent french govern natur favour compani hand commiss accept similar aid paid worker mfl case paid worker ccc mfl case aid decid french govern judg charg receivership proceed accept offer select bidder exclud number worker event buyer principl oblig fact negoti worker mfl kind compens submit offer judg aid worker mfl case reliev buyer direct indirect oblig respect worker contrast ccc case aid worker decid state long ago purpos facilit compani spanish author explicitli recogn abb ccc negoti agre sever pai worker elig aid aid scheme law likewis compens worker subject earli retir expens state approv transact bankruptci proceed state interven circumst public intervent respect worker ccc implement order continu industri activ ccc abb substanti reduc workforc hand intervent question reliev group cost forc bear reduct view oblig negoti worker approv plan bankruptci proceed recal respect impli transfer industri asset ccc compani light forego consider ultim beneficiari intervent abb final contrast french case compani hand judici administr asset sold judg favour creditor provis french bankruptci law compani ccc group subject spanish bankruptci law spanish author prefer forc ccc receivership proceed asset sold privat agreement ccc abb state recov monei respect asset select abb spanish author recogn observ commiss commiss accept alleg parallel abovement french case ccc case detail examin inform observ submit commiss conclud intervent spanish author occas sale asset ccc group aid element mean articl subsidiari abb present carri ongo industri activ ccc asset respect estim waiver claim pta million minu proce public creditor ccc obtain sale asset select abb minimum legal sever pai worker ccc subject earli retir expens state entitl provis articl law estatuto de lo trabajador minimum legal indemn worker dai salari year senior post maximum month abovement aid element affect trade member state distort threaten distort competit common market mean articl fact state strengthen help maintain market posit enterpris econom activ compar compet commun deem affect enterpris econom activ respect note intra commun competit trade electr equip sector intens earli power equip industri face collaps world demand led escal competit sever overcapac put strong pressur price margin cut capac competit weaken reinforc progress construct singl market reduc trade barrier open procur practic move common standard forc compani pai attent competitor result industri restructur phase focu profit busi line ration employ context sector experienc process merger acquisit order achiev economi scale build posit foreign market intra commun trade electr engin product nace code exclud electron grown substanti doubl reach ecu million compar extra commun export ecu million global term electr engin account total intra commun trade compar seventh largest sector hand segment market basic product rang facil ccc own abb show substanti intra commun trade flow intra commun export electr motor gener nimex statist code amount ecu million thigh tension switchgear intra commun trade amount ecu million part intra commun trade power transform amount ecu million segment market show broad surplu demand unabl manufactur fulli occupi battl win market tough continu come year panorama ec industri chapter offic offici public european commun commiss stress appar ccc group significantli particip spanish export market industri facil occupi continu occupi abb ownership substanti posit spanish market nation sector employ product capac spanish author recogn commun aid grant facil strengthen competit posit enabl retain artifici high market share spain detriment aid commun competitor penetr spanish market court justic judgment juli case final remark abb group present own facil ccc largest world produc electr engin sector consolid sale ecu million largest produc sector distort effect aid element assess final note enquiri commiss discov resolut decemb confirm plenari session april made public public ic bulletin juli june tribun de defensa de la competencia court defenc competit rule aid social restructur ccc group absenc recoveri outstand debt creat distort competit spanish electr equip industri reason tribun recommend case aid final grant social industri reason spanish govern limit level minimum indispens order minim effect competitor take consider nation intern context compani identifi beneficiari aid element abb subsidiari bought asset ccc commiss state awar account decis spanish author abb agre contract compani affect past debt ccc order prevent happen parti agre abb subsidiari asset ccc declar settlement agreement measur cover consid success undertak abovement fact commiss conclud contrast state aid case commiss decis eec alfa romeo respect fiat beneficiari aid element ccc case relev subsidiari abb econom oper part event place subsidiari bought asset activ parti previous negoti state term condit commiss establish state aid element relev section decis undoubtedli link public intervent final accept abb control ccc appar respect waiver debt withdraw secur guarante debt respect extraordinari assumpt social restructur cost negoti state abb accept takeov plan abb commiss establish econom activ link asset ccc aid state state abovement term condit agre abb renounc recoveri monei spent substanti extraordinari sum prevent econom activ disappear circumst case show oper constitut deliber plan abb continu exploit product activ ccc time bear substanti part financi oblig abb bear order control activ bankrupt vii legal statu commun law aforement aid element relev subsidiari abb list section iv waiver debt gave rise aid element coverag social restructur cost basi illeg approv spanish govern breach provis articl eec treati approv decemb aid ccc worker provid aid scheme set law result illeg prolong period valid chapter aid scheme addit year end prolong approv spanish govern decemb breach oblig articl notifi request previou author commiss prolong aid scheme question grant thereund assist question prior notif commiss illeg commun law waiver debt spanish author admit inform transmit commiss august formal accept offer abb control industri activ privat group ccc section iii decis offer term letter abb spanish ministri industri juli section iv valid state accept waiver outstand debt compani show spanish author firmli commit aid abb august notifi commiss legal procedur spanish law implement aid note resolut spanish parliament march spanish govern initi administr procedur submit plan grant aid question comisión delegada del gobierno para asunto económico grant aid juli spanish state council consult notifi advanc commiss articl spite precis principl illeg notif aid made member state commiss fact letter member state april remind member state oblig articl commiss point member state fail fulfil oblig notifi process put aid effect initi put effect mean payment aid recipi prior action institut implement aid legisl level constitut rule member state concern aid deem put effect legisl machineri enabl grant set present case clear aid grant previou notif commiss articl spanish author provid initi inform letter februari april time aid firmli commit seri decis nation administr bodi notifi commiss final note abovement decis decemb grant aid law creat right favour worker compani concern oblig public side spanish author deni aid charact intervent ignor decemb tribun de defensa de la competencia rule social measur law waiver debt social secur contribut constitut aid distort competit spite aid plan notifi commiss commiss conclud aid element subsidiari abb identifi section vi decis illeg spanish govern fail compli provis articl situat creat breach treati provis public intervent give rise aid element implement respect recal view imper charact rule procedur laid articl import public polici direct effect court justic recogn judgment june case illeg aid element issu remedi posteriori notwithstand note commiss oblig carri due procedur relat articl recogn judgment court justic februari case viii articl eec treati aid meet criteria laid principl incompat common market except provid articl applic case natur aid element direct attain object articl eec treati list aid compat common market compat treati determin context commun singl member state order ensur proper function common market regard principl embodi articl except provid articl constru narrowli aid scheme individu aid award scrutin invok commiss satisfi aid market forc insuffici guid recipi pattern behaviour serv object except appli except case contribut object aid purpos amount confer advantag industri firm member state financi posit artifici strengthen affect trade member state distort competit justif base common interest refer articl eec treati regard applic except provid articl aid promot facilit develop area note state spanish author industri plant ccc córdoba valladolid situat assist area qualifi grant region aid pursuant articl plant trápaga galindo reinosa situat assist area pursuant articl plant sabadel madrid assist area area plant trápaga galindo reinosa sabadel madrid locat present standard live abnorm low employ mean articl reason except incompat provid articl applic aid grant respect part plant córdoba valladolid locat articl area remain plant madrid sabadel articl area except region ground applic aid element assess aid destin rescu restructur compani difficulti case discuss benefit except grant restrict control condit eighth report competit polici point qualifi applic articl except sector ground assist inter alia strictli link implement beneficiari restructur measur lead viabl unaccept effect competit condit commun addit abovement reason inapplic articl except incompat region ground note aid measur question concern applic region aid scheme area form ad hoc intervent spanish govern enabl industri activ ccc continu oper except provid articl fact case provid ground whatsoev aid question intend promot project common european interest remedi disturb spanish economi spanish author present argument justifi compat aid question except provid articl aid facilit develop econom activ aid advers affect trade condit extent contrari common interest firstli note public assist grant occas sale asset ccc fall categori aid rescu restructur compani difficulti financi posit financi record group precari spanish author recogn ccc group verg bankruptci public intervent effect aid firm difficulti carri greatest risk transfer unemploy industri problem member state act mean preserv statu quo prevent forc work market economi normal consequ term disappear uncompetit firm process adapt chang competit condit reason commiss take strict approach assess compat aid rescu restructur firm difficulti commiss requir public intervent strictli condit implemen tation sound restructur convers programm capabl restor long term viabil beneficiari compensatori justif aid form contribut beneficiari normal plai market forc alter aid achiev commun object establish articl eec treati practic mean commiss carefulli monitor characterist restructur programm activ compani difficulti rescu state accept light common interest ccc case commiss oblig monitor characterist restructur programm buyer asset ccc potenti drawn industri facil compani ccc group longer respons industri oper note respect articl eec treati intend prevent distort competit creat state aid favour undertak product good case legal entiti perform product prevent commiss check aid plan rescu restructur industri activ industri facil link activ transfer econom agent concern legal entiti amount depriv articl content situat creat loophol avoid eec treati provis case compani allow avoid monitor commiss restructur industri activ transfer asset legal entiti occas eec treati principl ensur competit common market distort extent contrari common interest embodi articl applic entrust commiss prevail legal form cover prevent effect appli case issu spanish author initi provid commiss evid aid element involv intervent link accept restructur programm industri facil purchas abb subsidiari section iv commiss subsequ maintain contact spanish author april juli march view obtain detail inform made quantifi precis identifi aid element abb precis descript futur restructur measur envisag abb industri facil ccc contact commiss attempt pursu discuss abovement propos line produc result view spanish author insist public intervent assess involv state aid element circumst commiss oblig continu assess case effect cooper spanish author connect abovement essenti discuss point propos spanish author note time commiss present observ court justic framework proceed initi result applic introduc spanish govern annul commiss decis juli initi procedur articl letter date june law firm act behalf abb asea brown boveri zurich switzerland request opportun present observ commiss decis commiss discuss letter date juli abb present initi observ letter date novemb abb submit commiss document titl report fair price paid subsidiari abb acquisit juli asset ccc spain report drawn price waterhous conclud price paid abb ccc net asset excess estim higher end fair market valuat rang letter date novemb abb submit inform restructur programm carri respect busi own ccc abb submit addit inform letter date januari februari abb submit inform explicit caveat abb accept alleg state aid grant context acquisit ccc asset abb support posit spanish govern commiss entitl carri current investig inform show abb carri tight restructur programm acquir asset own ccc compani part restructur programm abb reduc product capac ration product transfer technolog carri extens invest programm note abb confirm substanti overcapac heavi electr equip sector prior acquisit ccc asset restructur carri abb abb overcapac burdensom sector access spain eec import spanish market import exercis addit competit pressur busi reduct product capac carri wai closur entir factori reduct parallel product line line product line product reduct product area close factori build reduct product equip scrap dispos machineri instal reduct personnel erandio plant close outdat equip erandio plant scrap part equip recent product machin transfer galindo plant order replac machin turn scrap instanc machin erandio complement exist galindo equip requir minimum facil need viabl product product programm addit product industri motor traction equip transform sabadel plant phase import part remain machineri equip acquir ccc compani remov scrap destroi order reduc product capac level profit product part restructur programm abb reorgan previou product pattern involv concentr activ compani engag activ specif product abb reduc number previous exist product line concentr product good product line elimin parallel effort activ result measur evid product capac figur restructur inform reduct product capac submit abb summar tabl tabl busi line capac acquisit direct hour mw capac restructur direct hour mw power gener industri motor traction includ motor transform hv switchgear tabl reduct capac busi line direct hour decreas mw decreas power gener industri motor traction includ motor transform averag averag inform compar data submit total demand product capac spain tabl busi line mw market demand total capac spain capac ccc capac ccc restructur power gener industri motor traction includ motor transform import part restructur programm abb step order ration product order make product viabl ration measur includ introduct process flow layout factori introduc plan method time suppli intermedi stock improv product qualiti reduct factori space improv servic measur part complex ration programm complet produc import result labour product increas factori put time reduc factori inventori reduc failur rate test reduc previou level failur present level failur time deliveri increas factori space reduc technolog transfer total technolog transfer busi restructur asset acquir ccc arm length excess million invest programm origin plan commit form part transact abb acquir asset ccc envisag invest pta million revis invest plan implement total pta million invest inform commiss abb submit spanish author comment letter date decemb march letter date januari april spanish author reaffirm view intervent cover investig state aid element inform commiss endors restructur programm present abb view benefit potenti applic except incompat provid articl eec treati light inform submit abb endors spanish author commiss arriv conclus report fair price paid abb asset ccc commiss observ fact abb bought ccc fair market report question intend demonstr suffici reason conclud intervent spanish author rescu busi ccc involv state aid element fact buyer pai reason price compani price base reason expect recoup invest reason return rate reason period demonstr behav reason market economi privat investor behaviour buyer exclud possibl state part grant aid act market economi privat investor respect particip acquisit buyer seller ccc case state act market economi privat creditor posit circumst section vi decis case issu note exist aid favour abb substanti fact state spite secur held recov moni respect asset bought abb abb activ particip negoti place acquisit condit state assum substanti restructur cost creditor compani respons intervent spanish author contain aid mean articl aid declar compat commiss articl previous explain link restructur programm aid activ judg accept commun point view commiss repeatedli spanish author analysi case focus exist suffici compens distort compent caus aid view fact aid question grant rescu restructur busi difficulti commiss verifi aid link implement beneficiari restructur programm return viabil advers effect competit condit form commun point view respect commiss expect beneficiari close unprofit product line reduc product capac respect intervent abb procedur commiss time obtain detail inform restructur measur implement abb inform restructur programm abb appli aid busi reduc product capac busi line averag reduct term direct hour mw tabl action remov excess capac spanish market elimin competit tension sector commun level make competitor gain market share relev segment restructur appear intend creat product profit viabl activ integr structur abb group spain end abb contribut substanti fund put back viabl foot commiss consider restructur programm implement secur job area specif problem underdevelop industri declin note respect workforc ccc locat region assist area articl region view forego consider commiss conclud industri activ ccc abb ownership respons restructur plan consid satisfactori commun point view state aid element involv intervent spanish author occas sale ccc select asset abb subsidiari benefit except incompat provid articl eec treati distort competit commun extent contrari common interest adopt decis articl intervent spanish author consist waiver claim public creditor cenemesa cademesa conelec ccc pta million minu proce obtain sale asset applic aid scheme establish law juli convers reindustri financ earli retir scheme worker ccc decid occas sale ccc select asset subsidiari asea brown boveri abb abb energía sa abb generación sa abb metrón sa abb industria sa abb motor sa abb nortem sa abb sabadel sa abb galindo sa abb trafodi sa abb subestacion sa abb trafo sa abb trafonor sa abb trafosur sa abb tracción sa abb servic sa abb imasd sa abb uno sa abb do sa abb tre sa abb cuatro sa abb cinco sa abb sei sa abb siet sa constitu state aid mean articl eec treati aid question illeg commun law award spanish govern breach provis articl eec treati aid consid compat common market pursuant articl articl spain submit annual report commiss implement restructur programm busi run ccc present run abb articl decis address kingdom spain brussel juli commiss karel van miert vice presid lorenz germani ecr publish franc commiss ecr capolongo azienda agricola maya ecr franc commiss ecr sake confidenti refer absolut figur product capac omit public offici journal european commun mw figur transform mva assess exclud analysi product hv switchgear restructur programm implement produc chang local content product integr render comparison imposs note calcul global averag mw bias capac transform mva sake confidenti figur omit public offici journal european commun