commiss decis june state aid favour sket schwermaschinenbau magdeburg gmbh sket smm saxoni anhalt german text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement establish european econom area articl thereof notic accord articl interest parti submit comment letter date march commiss inform german govern decis initi proceed pursuant articl ec treati respect aid grant treuhandanstalt tha successor organ bundesanstalt für vereinigungsbedingt sonderaufgaben bv sket schwermaschinenbau magdeburg gmbh sket smm enterpris locat german land saxoni anhalt file bankruptci sket emploi approxim peopl largest manufactur machineri equip länder product rang includ roll mill wire draw mill crane steel wire cabl make machin dress size technolog veget oil extract plant sewag treatment plant dust collector sket found magdeburg middl nineteenth centuri ship repair yard iron foundri friedrich krupp grusonwerk merger krupp essen fifth internation renown engin work destroi world war war enterpris resum trade soviet control veb schwermaschinenbau ernst thälmann magdeburg seat newli found ernst thälmann combin compris subsidiari employe annual turnov dm billion time sket largest produc export heavi machineri comecon countri unif germani sket transform tha agenc respons privat east german state properti sket maschinen und anlagenbau ag limit compani worker decis june nn octob nn commiss approv dm million aid grant tha sket ag tha split sket ag compani largest sket smm remain compani privat liquid parent compani sket smm subsidiari drahtziehmaschinenwerk grüna gmbh dzm chemnitz entstaubungstechnik magdeburg gmbh etm magdeburg affect liquid sket smm dzm merg west german firm produc wire draw machin herborn amp breitenbach gmbh chemnitz amp etm produc dust collect system juli commiss belatedli notifi prolong previous grant aid grant addit liquid loan request german govern decis initi articl proceed postpon jeopard ongo privat negoti octob tha conclud privat contract firma oestmann amp borchert industriebeteiligungen acquir sket smm share act broker remain share retain tha bv pend subsequ privat legal valid privat contract made depend favour commiss decis novemb german govern notifi financ measur support privat decemb tha renounc claim repay sket smm compani loan order prevent compani file bankruptci preliminari analysi aid measur commiss decid initi articl procedur german author inform abovement letter march initi procedur commiss express doubt aid compat articl ec treati limit minimum futur competit enterpris doubt octob german govern notifi measur favour compani illiquid investor safeguard order receiv decemb commiss inform advanc payment loan notifi part plan loss cover sket smm januari german govern announc failur intend privat due withdraw investor notifi liquid measur assist sket smm pend draft restructur plan previous notifi aid continu oper compani end maintain restructur plan notifi april sket smm remain public ownership compani restructur independ privat commiss appoint independ expert assess notifi restructur plan effect expert express doubt plan feasibl opinion base correct assess argument succe lack current prospect order letter date august commiss inform german govern decis extend articl proceed includ liquid measur introduc favour sket smm subsidiari restructur plan extend articl proceed commiss express doubt compat aid articl ec treati ground aid proport effect long term viabil compani remain uncertain germani notifi instanc actual grant bv financi sket set restructur plan put effect bankruptci notif gave actual effect restructur plan cover commiss decis extend articl proceed octob sket smm file bankruptci liquid letter date novemb regist dai german author notifi measur favour sket smm octob januari german govern notifi extent measur favour subsidiari clear restructur plan subsidiari carri major modif time german author state futur financi subsidiari period cover notifi restructur plan clear commiss suffici inform dispos assess compat notifi aid measur etm amp dzm articl ec treati articl eea agreement decis cover question compat provis aid grant sket smm detail grant bv sket smm financi resourc cover decis durat loan interest rate fee refer made commiss decis initi extend articl procedur legal assess section decis ii letter date june regist june german govern belatedli notifi aid previous grant tha sket smm aid consist prolong end loan total dm million provis addit loan dm million cover liquid invest guarante worth dm million counter guarante worth dm million commiss request june german govern provid addit inform letter date juli regist juli request german author date octob decid defer take decis expect notif addit aid connect plan privat compani addit aid involv privat sket smm total dm million belatedli notifi german govern letter date novemb regist novemb entail provis dm million equiti waiv repay sharehold loan tha provid unif cover annual loss financ redund programm requir dm million dm million sket smm dm million etm cover sell surplu real estat tha notif made commiss letter date decemb regist decemb waiver dm million debt notifi order prevent compani file bankruptci form provis dm million equiti dm million cover plan loss sket smm subsidiari letter date octob regist octob german govern belatedli notifi addit aid measur maintain compani liquid articl proceed safeguard order receiv counter secur provid bank guarante dm million letter date decemb regist decemb earli payment interest bear loan dm million notifi part plan loss cover sket smm notifi end investor pull privat fail letter date januari regist januari german govern announc failur intend privat draw restructur plan time notifi provis dm million loan sket smm ensur liquid march letter date march regist march german author withdrew notif aid involv intend privat grant prior failur privat letter date march regist march german govern belatedli notifi provis liquid loan dm million quarter dm million april letter date april regist dai commiss notifi restructur plan sket smm period financi measur amount dm million includ liquid measur notifi request made commiss german author letter date regist dai entir restructur plan devis roland berger consult commiss receiv observ parti novemb letter date novemb regist dai german author notifi grant smm subsidi total dm million june inform commiss dm million april loan convert grant dm million counter guarante call measur line notifi restructur plan letter date januari regist dai januari regist februari german author inform commiss amount guarante counter guarante call date accord notifi restructur plan iii letter date novemb commiss transmit german author comment parti swedish associ machin maker italian german competitor receiv respons public decis initi procedur observ italian competitor extens procedur receiv deadlin receipt comment parti express concern proportion amount aid compar effect viabil compani aid swedish associ argu viabl compani substanti amount state aid market character intens competit low rate capac util parti concern misus state aid sket smm competitor concern misus amp dzm sell product variabl cost loss cover state aid sket smm offer product sale market price complain gave exampl object sket smm openli involv bv aid attract order cost price submiss concern exclus order ec asia pacif area argu behaviour put european competitor german italian produc heavi price pressur threaten distort competit commun iv letter date februari regist februari march regist march januari regist januari januari regist januari german govern respond parti comment specif exampl disput exampl italian competitor succeed win order german author comment case order italian competitor sket smm counter offer case margin higher german govern argu state aid cut price financ cost cut programm sket smm present swedish market final german author assur commiss sket smm strict instruct resolut adopt compani sharehold offer suppli product price direct cost bv formal consent consent request articl proceed confirm commiss view financ measur bv favour sket smm cover initi extens procedur deem aid mean articl ec treati cover except provid articl commun guidelin state aid rescu restructur firm difficulti framework aid approv mechan engin basic industri commun repres total industri product emploi million worker commun world biggest produc sector product total ecu billion germani share commun product commun mechan engin industri larg export orient export increas figur germani intra commun trade expand germani spain germani export equival domest consumpt sket smm approxim employe larger produc heavi machineri commun engin compani emploi peopl figur recent aid improv sket smm posit common market vi vi competitor receiv state support roughli sket smm turnov account sale roll mill export countri sket smm share world market wire rod mill grant state aid distort threaten distort competit commun manufactur compet market commun respect competit strength market player alter advantag recipi disadvantag receipt aid intra commun trade affect measur favour sket smm special featur case fact notifi restructur plan cover articl ec procedur plan fulli implement measur place clariti sake overview list measur notifi put effect purpos determin compat aid measur intend measur polici underli consider note notifi financ measur implement gt tabl gt individu measur compani grant dm million dm million notifi german law improv region econom structur gemeinschaftsaufgab zur verbesserung der regionalen wirtschaftsstruktur rahmenplan measur law qualifi region invest aid articl ec treati exempt articl ec treati purchas price counter guarante occas privat sket smm land saxoni anhalt provid oestmann amp borchert counter deficit guarante worth dm million bank guarante secur payment purchas price dm million dm million interest bv counter guarante condit payment fee privat contract forc purchas price paid bank guarante counter guarante land call guarante regard aid effect export credit insur sket smm export credit insur feder herm programm maximum dm million order ci export credit insur scheme keep oecd consensu consid compat articl ec treati measur constitut aid discharg environment liabil origin januari dm million consid aid treuhand arrang compani buyer held respons pollut due polit system job creation measur german law improv work condit arbeitsförderungsgesetz dm million appli employ social environment field young peopl gdr deem constitut assist measur mean articl ec treati articl eea agreement nn german author view convers loan date januari loan dm million interest free deadlin reimburs subsequ discharg constitut aid treuhand arrang discharg debt deem aid advantag beneficiari effect decis discharg loan defer year argu late discharg loan convers balanc sheet view differ effect equiti sket smm award laid personnel redund allow dm million german employe represent act betriebsverfassungsgesetz financ bv sket smm remain ownership bankruptci allow award redund programm provid reduct personnel approxim employe sket smm employe combin origin emploi time german unif major aspect downsiz combin land product capac reduct extrem overman payment redund allow lai surplu staff stem directli initi staf compani characterist plan economi enterpris compar burden compani debt unif reliev compani burden relat cost confer advantag outweigh disadvantag inherit burden grant loan worth dm million order lai personnel deem aid mean articl ec treati aid mean articl ec treati counter guarante perform advanc payment bond bv gave sket smm counter guarante perform advanc payment bond cover maximum risk dm million bond counter guarante call highest amount advanc payment secur dm million sket smm paid counter guarante fee year bv maximum risk fee bank maximum risk bond gt refer film gt counter guarante guarante constitut aid provid normal market term place beneficiari advantag advanc payment perform bank bond customari industri plant construct ow larg sum need carri order type guarante counter guarante strictli ti individu order contract custom make consider front payment enabl supplier execut contract bui raw materi time assur speedi reimburs sum execut order properli guarante provid manufactur bank pai call custom bank obtain manufactur fee lien order good smaller compani capit resourc limit recogn bank secur uncondit execut contract provid counter guarante parent compani sket smm provid counter guarante secur contract bank ask counter guarante consid view poor liquid situat sket smm provid assur contract carri bv sket smm parent hold compani ask provid counter guarante kind risk cover unusu sector concern confin sket smm reinsur constitut state aid grant normal market term answer question counter guarante provid normal market term depend factor skett smm financi situat time provis amount compani sket smm pai counter guarante amount paid counter guarante depend financi situat beneficiari probabl default compar assumpt lend risk guarantor commiss experi compani financi posit compar sket smm industri plant construct sector pai approxim year order obtain guarante open market counter guarante provid bv favour sket smm interest rate year maximum amount provid normal market term confer financi advantag compani view provis counter guarante perform advanc payment bond interest rate year year regard aid aid element defin cash grant equival cash grant equival counter guarante determin case loan guarante premium paid deduct interest subsidi repres differ refer interest rate rate obtain state guarante waiver debt tha grant sket ag dm million liquid loan subsequ reduc dm million guarante worth dm million june commiss decid nn prolong guarante worth dm million loan dm million total dm million compat articl ec treati liquid loan dm million invest loan dm million grant commiss likewis exempt articl ec treati nn measur prolong year waiv debt includ interest order creat equiti dm million convers guarante loan dm million vice versa dm million effect chang posit bv bank part sket debt decreas land sale land sket smm oper transfer bv nomin book dm million determin accord law transform state own compani privat limit compani dm eröffnungsbilanzgesetz sket smm paid preferenti price debt clearanc effect sale confer addit advantag compani debt dm million waiv cover loss incur invest loan dm million approv commiss decis sket smm convert invest guarante year invest guarante increas cover bank loan worth addit dm million maximum dm million guarante reduc convert bank loan dm million loan waiv bv favour sket smm year determin constitut state aid account fact grant dm million author commiss decis sket smm nn increas newli grant amount dm million waiv order reduc loan dm million loan dm million waiv liquid loan grant dm million dm million give total dm million waiv order compani oper loan grant instal term dm million rate year decemb june interest free unlimit time dm million interest free unlimit time loan likewis grant instal dm million interest free novemb decemb dm million annual rate novemb clear liquid equiti situat commiss decis extend articl procedur sket smm grant bank loan cover oper expens market term waiver debt grant author commiss decis sket smm result liquid resourc inject compani compani liquid maintain end privat fail measur regard pure subsidi debt waiver exempt articl decis treuhand arrang expect loan guarante tha east german firm de facto grant longer compani remain financi depend tha logic convers loan grant constitut addit aid conclud measur cover abovement earlier commiss decis sket smm regard compani difficulti waiver abovement debt contract grant cover earlier commiss decis sket smm constitut outright subsidi consid aid nomin amount aid dm million loan bv grant sket smm supplementari loan dm million cover loss amount grant instal dm million dm million march dm million march dm million april dm million dm million june dm million januari repay deadlin fix liquid loan grant failur privat bankruptci amount dm million dm million grant interest rate year dm million interest rate year remain dm million interest free unlimit period time bankruptci sket smm grant loan amount dm million provis loan market term compani financi situat compar sket smm highli confer sket smm consider financi advantag gain market condit provis loan total dm million regard aid grant award dm million grant sket smm effect time increasingli clear ow lack order compani achiev plan turnov view exist debt burden threat bankruptci provis loan serv purpos grant link specif restructur measur project serv secur liquid avoid bankruptci gt tabl gt exempt articl ec treati unlaw aid measur bv favour sket smm constitut aid mean articl ec treati articl eea agreement notifi commiss articl ec treati part aid grant prior notif total award await commiss final decis procedur award formal illeg addit aid regard incompat common market except set articl treati applic featur aid present case satisfi requir articl ec treati measur cover except articl ec treati articl appli aid grant sket smm adopt extrem broad interpret provis commiss opinion articl intend gener except articl restrict except case infrastructur deficit zonal border area elimin present measur fall categori inform made commiss enabl determin criteria set articl fulfil german govern submit magdeburg area affect divis germani econom disadvantag area caus divis aid grant sket smm serv compens disadvantag case law court justic european commun member state invok except provid inform commiss enabl verifi condit set provis fulfil regard condit exempt set articl ec treati sket smm undoubtedli locat area underemploy standard live abnorm low unemploy rate saxoni anhalt highest germani consider higher commun averag pursuant articl aid promot econom develop area consid compat common market present case aid contribut promot econom develop area creat last invest employ unprofit compani restructur horizont commun guidelin state aid enterpris applic case restructur link privat contract restructur plan fulfil requir commun guidelin state aid rescu restructur firm difficulti privat contract restructur plan shown privat plan commiss decis initi procedur provid articl ec treati restor viabil sket smm aid led anti competit behaviour addit plan fulli implement condit contain met grant aid regard incompat common market pursuant articl ec treati waiv debt grant counter guarante proport expect benefit commun point view pave undu distort competit base predatori price point commun guidelin state aid rescu restructur firm difficulti restructur aid admiss restructur plan fulfil requir restor viabil privat plan lead restor long term profit viabil sket smm reason time scale basi realist assumpt investor plan base assumpt major restructur cost stabl personnel cost increas excess high materi cost sale increas dm million dm million gt tabl gt annual loss dm million reduc dramat dm million profit book similarli neg cash flow dm million reduc minu dm million gt tabl gt gt tabl gt assumpt increas sale futur oper condit question unprofit product abandon due depend ci market high polit econom risk modern backlog outcom feasibl compani requir inject public monei end restructur period project result suffici high heavi loss incur previou year privat contract assum end restructur period sket smm accumul heavi loss gt tabl gt avoid undu distort competit state intra commun trade mechan engin industri roll mill wire rod mill sector sket smm predominantli activ grant aid manufactur distort threaten distort intra commun trade competit commun produc market commun distort alter respect competit posit individu commun oper recent studi carri commiss european mechan engin industri recess ow market domin east asian produc commun share world market fell industri aim greater special eu market show tendenc overcapac german author compani challeng claim low price commiss independ expert conclus sket smm sold roll mill consider variabl cost case case involv order asia jian yin china yu din taiwan concern order german custom freital saxoni order subject matter complaint commiss italian competitor led heavi loss year dm million compar earn dm million order loss cover bv addit liquid loan dm million cover loss state aid misus order acquir aggress anti competit behaviour part order need order fulfil basic assumpt underli privat plan grant aid precondit anti competit behaviour enabl sket smm engag low price implement restructur plan end compani fulli implement restructur plan submit commiss decis extend articl procedur investor pull januari sket smm oper result badli deterior ow thing mark reduct order ultim restructur plan lead restor sket smm viabil plan fail suffici reach justifi grant aid abovement commun guidelin restructur firm difficulti restructur plan propos restructur plan commiss decis extend articl procedur sket smm profit restor restructur plan aid proport cost benefit restructur restructur plan fulli implement restor viabil born independ expert appoint commiss restructur plan led restor long term profit viabil sket smm reason time scale basi realist assumpt state decis extend articl procedur restructur plan partli base assumpt opinion commiss independ expert unrealist compani futur oper condit sharp reduct personnel materi cost dm million dm million plan effect gt tabl gt time expert apprais legal condit lai worker met measur reduc materi cost final view situat regard order estim loss dm million suffici ground entertain consider doubt implement restructur plan estim liquid requir time apprais june sket smm employe work short time lack order ow compani depend ci market highli question achiev plan turnov target dm million gt tabl gt apprais success sket smm depend won order approach break credit rate probabl low guarante addit aid restructur plan forecast loss dm plan make earn forecast date gt tabl gt clear sket smm restructur privat event subsequ privat aid rule advanc circumst unavoid slight chang plan schedul brought situat demand aid restructur plan consid capabl enabl sket smm cover cost gener minimum return capit invest result complet restructur measur compani longer depend state support compet marketplac viabil criterion set guidelin satisfi proportion relat restructur cost benefit abovement distort effect competit due grant aid market player industri suffer excess capac amount aid earmark grant privat plan relat expect benefit commun point view expenditur exceedingli high relat strong likelihood restructur success prevail circumst gt tabl gt notifi aid repres total restructur cost plan privat investor involv restructur intend prepar ground privat stage aid undoubtedli requir implement restructur plan end compani fulli implement restructur plan submit commiss time evalu plan commiss expert june plan turnov decreas dm million compani plan win order worth dm million year forecast dm million dm million time contractu secur autumn manag sket smm propos supervisori board restructur plan provid substanti reduct capac personnel employe repres supervisori board reject plan manag file bankruptci octob light fact set commiss conclus measur grant bv regard aid except laid articl ec treati appli gt tabl gt vi case aid deem incompat common market commiss requir member state recov aid recipi case measur favour sket smm subject matter present decis aid recov assess situat alter fact sket smm file bankruptci longer present market recoveri intend compens last effect competit result grant aid recoveri aid imposs sket smm asset sold creditor satisfi proce sale recoveri aid subject german law includ provis interest due late payment amount ow state interest payabl normal market refer rate date grant aid recoveri claim treat favour claim result act nation public author accord case law court justic relev provis appli recoveri requir commun law render practic imposs procedur difficulti regard implement measur influenc law adopt decis articl aid grant treuhandanstalt successor bundesanstalt für vereinigungsbedingt sonderaufgaben sket smm unlaw germani fail compli oblig articl ec treati inform thereof commiss good time provis counter guarante interest rate year year take account premium paid waiver dm million debt order cover loss waiver invest loan dm million waiver liquid loan dm million waiver liquid loan dm million liquid loan dm million cover loss liquid loan dm million grant end liquid loan dm million grant grant total dm million award aid incompat common market mean articl ec treati articl eea agreement cover provis except exempt articl ec treati articl eea agreement articl germani requir recov full aid refer articl month date notif decis amount repaid bear interest date aid grant accord provis payment interest arrear case liabil state rate appli calcul net grant equival region aid feder republ germani repay made accord procedur provis german law claim repay treat favour claim result act german author present provis appli repay requir commun render imposs procedur difficulti regard implement measur influenc law articl germani inform commiss month date notif decis measur compli decis articl decis address feder republ germani brussel june commiss karel van miert member commiss oj oj oj panorama eu industri short term supplement commiss decis construct financ guarante commiss notic de minimi rule state aid oj case itali commiss ecr paragraph commiss commun oj oj case commiss germani ecr case deufil commiss ecr commiss letter member state sg march case belgium commiss ecr belgium commiss paragraph