commiss decis juli state aid nn implement germani dampfkesselbau hohenturm group germani 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 articl ec treati pursuant articl council regul ec march lai detail rule applic articl ec treati procedur letter date decemb commiss notifi germani decis approv aid total dem million connect privatis restructur dampfkesselbau hohenturm gmbh decis stipul annual restructur report provid commiss letter date novemb germani present report progress compani restructur commun germani inform commiss failur origin restructur plan approv commiss substanti modif plan involv restructur measur potenti contain state aid element dem million letter date march germani provid commiss inform letter date octob commiss inform germani decid initi procedur laid articl ec treati respect aid commiss decis initi procedur publish offici journal european commun commiss invit interest parti submit comment aid receiv comment germani deliv comment open procedur letter date januari commiss request addit inform letter date februari answer germani letter date april meet brussel commiss inform germani misgiv matter germani provid addit inform letter date novemb final question rais commiss letter date januari question answer letter date februari ii detail descript aid recipi recipi aid dampfkessel hohenturm group econom unit consist legal person separ constitut german compani law econom unit compris compani continu busi dampfkessel hohenturm gmbh state own east german compani privatis restructur dampfkessel group approv decis commiss hereinaft refer quot decis quot time kei element restructur dampfkessel hohenturm gmbh split compani hold compani dh industriehold gmbh quot dh hold quot establish oper unit asset dampfkessel hohenturm gmbh remain hold compani oper unit hire facil dh hold busi oper subsidiari hive dampfkessel hohenturm gmbh dh dampfkesselbau gmbh amp kg quot dhd quot dh kraftwerksservic gmbh amp kg quot dhk quot dh werkstoffprüfung gmbh amp kg quot dhw quot dh schweißtechnik amp servic gmbh quot dhss quot dh bio energieanlagen gmbh quot dhbio quot stake dh hold initi held dhbio meantim sold subsidiari origin own dh hold activ dampfkessel hohenturm group compris develop manufactur assembl market power plant equip instal environment product pipe construct repair mainten work compani belong group privat investor emploi worker annual turnov dem million compani consid jointli group qualifi sme dh hold main subsidiari dhd appli bankruptci order continu busi activ bankrupt subsidiari subsidiari dh hold dh dampfkessel und behälterbau hohenturm gmbh quot dhdb quot set august dhdb dhd workforc employe april germani inform commiss investor plan sell dhdb industri group dim industriemontagen quot dim quot germani sale conduct market condit subject control expert sale effect commiss approv restructur measur retroact januari oper resembl involv dh hold subsidiari dhk sold dim dim control directli indirectli privat investor major stake dh hold numer subsidiari dim offer larg varieti industri servic includ product complet machineri specif industri purpos dim workforc gener turnov dem million expect boost figur dem million sme dim form part larger industri conglomer control investor hydraulik nord gmbh group emploi worker gener turnov dem million group activ subsidiari construct mechan engin industri servic hold risk capit particip sme privat investor control compani occas past demonstr abil restructur successfulli state own east german compani compani belong dampfkessel hohenturm group locat hohenturm land saxoni anhalt region high unemploy saxoni anhalt qualifi region elig aid articl ec treati restructur plan approv origin restructur plan approv envisag dampfkessel hohenturm group provid complet plant machineri small medium size power plant boiler group meet estim demand municip medium size plant oper connect implement initi restructur plan commiss approv restructur aid total dem million decis split dampfkessel hohenturm gmbh kei element restructur plan substanti invest product facil cost reduct measur assum time restructur group return viabil latest failur restructur plan germani refer number factor suppos led failur origin restructur plan bankruptci dhd crucial shortcom plan identifi misguid concept group stop shop provid complet small medium size power plant machineri start group lack technic commerci expertis financi resourc requir provid successfulli servic complex contract gener market plant machineri experienc downturn undergon structur chang develop attribut asian econom crisi hand uncertain prospect energi plant background energi market liberalis market oblig number larger supplier power plant babcock steinmüller lentj evt restructur merg reposit tradition larger competitor specialis larger power plant move market small plant dampfkessel hohenturm group enter restructur result competit pressur group target market stronger time restructur plan drawn bui dampkessel hohenturn gmbh investor opportun execut due dilig examin compani germani reli statement compani lack time figur obtain turn mislead incorrect privatis privat investor realis volum offer compani exceed effect market opportun offer total dem million contract worth dem million sign addit privat investor cope unexpect loss result contract sign dampkessel hohenturn gmbh privatis execut contract led loss dem million investor state origin misinform pend claim damag dampkessel hohenturn gmbh contract lastli turnov profit concern situat decemb differ markedli envisag approv restructur plan loss incur privatis dampfkessel group dm million attribut plant build sector bankruptci group main subsidiari market dhd result situat modifi restructur plan light difficulti privat investor control dampfkessel hohenturm group decid modifi restructur plan substanti order reflect accur limit capabl dh group chang market condit intern measur experi shown dampfkessel hohenturm group ill equip provid stop shop solut complet power plant kei element restructur plan focu group origin ambit compet provid complet plant abandon dampfkessel hohenturm group oper subcontractor larger compani focus reduc consider demand group engin capabl financi resourc line size group group increasingli act supplier compon servic market power plant effort made offer futur increasingli customis solut repair work modif exist plant larger compani tend offer standardis product present market segment import develop connect set compani dhdb continu busi bankrupt dhd privat investor provid start capit dem million asset predecessor compani dhd oper remain dh hold newli creat dhdb workforc asset price paid transact privat investor realis measur dhdb oper profit dampfkessel hohenturm group decid integr dhdb profit dim group control hope oper gener substanti synergi effect dhdb benefit group contact gener industri servic sector decis import manag engin level dim group futur ensur adequ financ dhdb oper remain subsidiari dh hold dhss report develop melt technolog due launch market dhw made loss expect break financi measur modifi restructur plan present commiss envisag measur implement state favour dampfkessel hohenturm group measur potenti state aid element dem million guarante bv successor treuhand privatis agenc initi commun germani state bv provid compani dhdb dem million guarante avalbürgschaft pend final decis commiss case measur implement germani state pend integr dhdb larger dim group render measur unnecessari dim henceforth provid requir financ dem million letter date novemb germani formal withdrew part notif public capit particip measur dampfkessel group consist public capit particip dem land saxoni anhalt grant compani dhdb intend build current asset dhdb difficulti obtain financ privat capit market account group econom situat germani public capit particip cover approv aid scheme modif extens exist guarante measur modifi restructur plan consist structur extens exist guarante inform suppli germani relev east german privatis agenc grant guarante compani prior privatis measur authoris commiss approv aid scheme revolv guarante initi cover maximum risk dem million term subsequ alter occas firstli term origin privatis agreement privat investor bui dampfkessel group oblig assum respons remain risk cover guarante latest privatis agreement provid penalti event complianc stipul final tranch dem million aid previous authoris paid agre date investor assum full respons risk cover guarante remain tranch dem million bv redeem guarante bank substanti reduc exposur investor provid dem million redeem part guarante remain part cover risk dem million temporarili retain bv subsequ agreement deadlin investor redeem guarante extend end commun februari germani confirm guarante meantim fulli redeem investor commiss note condit payment tranch aid privatis contract investor risk cover guarante met relev moment bv nonetheless decid pai aid tranch investor reduc exposur guarante provid privatis contract germani risk cover guarante amount dem million begin structur guarante subsequ alter initi guarante provid revolv guarante limit maximum amount cover time oblig includ dampfkessel hohenturm group enter moment agreement septemb revolv natur guarante abandon intend ensur oblig cover guarante provid bv result risk recours guarante declin steadili thirdli agreement decemb alter guarante initi bv guarante structur defici guarante ausfallbürgschaft creditor claim guarantor bv fail enforc princip debtor implic group creditor claim bv previous request payment dampfkessel group light group constant lack liquid request inevit lead group bankruptci decemb guarante cover risk total dem million order avoid scenario dampfkessel bankruptci costli bv account guarante structur guarante defici guarante modifi decemb group creditor direct recours bv amount dem million request payment dampfkessel group direct claim permiss liquid dh group put risk agreement bv directli settl claim total dem million avoid bankruptci dampfkessel group compens modif bv privat investor agre repay scheme payment effect bv basi guarante scheme dampfkessel hohenturm group pai bv annual cash flow third year besserungsscheinregelung scheme remain forc dampfkessel group repaid bv total amount paid claim guarante investor contribut modifi restructur plan privat investor provid newli creat dhdb equiti capit total dem million contribut dem million sharehold loan gesellschafterdarlehen capit dh hold amount dh hold dem million compens subsidiari dampfkessel hohenturm group loss incur dhd bankruptci addit dim grant dem million guarante dhdb sold dim group reason open formal investig open formal investig commiss express misgiv restor viabil back modifi restructur plan wonder subsidiari dhdb posit receiv resourc dampfkessel group commiss state time insuffici inform justifi except principl aid grant lastli doubt germani grant earlier restructur aid compli term decis iii assess aid applic articl ec treati articl ec treati state aid grant individu undertak incompat common market affect trade member state distort threaten distort competit measur relat bv guarante predecessor bv grant guarante dem million dampfkessel hohenturm gmbh bv subsequ modifi occas germani reduc bv exposur claim measur constitut state aid order assess measur constitut state aid mean articl ec treati analys individu case law court justic measur public bodi constitut state aid public bodi act privat creditor seek obtain payment sum ow debtor financi difficulti ascertain measur implement bv onward design reduc exposur guarante commiss note privatis agreement final tranch dem million restructur aid authoris decis paid investor condit fulli redeem guarante origin amount dem million condit met privat investor redeem amount dem million condit laid privatis agreement met bv decid pai remain aid dem million refrain substanti reduc exposur guarante germani explain payment dampfkessel group bankrupt background creditor resort guarante issu bv settl outstand oblig amount dem million time germani state dampfkessel group driven liquid bv recov estim dem million asset bv face choic pai dem million sum redeem guarante substanti reduc exposur guarante comparison option lead conclus bv pai dem million opt arrang reduc exposur effect payment investor bv exposur guarante remain dem million bv reduc exposur dem million meet claim dampfkessel asset bv decis pai dem million aid tranch motiv desir dampfkessel group afloat seek primarili reduc exposur extent bv act privat creditor commiss note decis pai final tranch dem million accord term decis germani state payment intend rebuild current asset dampfkessel group payment constitut liquid aid invest aid event commiss recal connect decis approv dem million restructur aid understand dem million sum invest dampfkessel hohenturm gmb view financ restructur measur germani state amount dem million purpos remain restructur aid essenti devot strengthen liquid dampfkessel group decis authoris addit liquid assist dem million ascertain bv decis extend deadlin privat investor redeem remain guarante constitut state aid guarante origin grant approv aid scheme germani demonstr commiss measur bv recov substanti sum guarante view dampfkessel group immin liquid notwithstand gener issu behaviour regard privat investor circumst germani demonstr commiss privat guarantor situat extend deadlin requir financi compens commiss bv extend deadlin act privat guarantor seek minimis exposur medium term similar reason appli agreement decemb defici guarante abandon dampfkessel creditor opportun exercis direct claim bv agreement help avert group bankruptci call bv full guarante evid privat creditor compar situat measur quid pro quo measur deem aid element agreement septemb revolv natur guarante abandon constitut state aid measur effect reduc bv exposur grant econom advantag dampfkessel group creditor capit particip land saxoni anhalt dm capit particip land saxoni anhalt confer econom advantag aid beneficiari econom difficulti time compani receiv particip privat sourc germani claim measur grant accord aid scheme approv articl articl ec treati richtlini über konsolidierungsbeteiligungen im mittelstand de land sachsen anhalt commiss point condit approv scheme met approv explicit condit aid combin form restructur aid present case particip land saxoni anhalt receiv payment dem million extens deadlin redeem guarante arrang state constitut state aid scheme question applic case measur examin light articl ec treati aforement measur distort competit natur payment exist intra commun trade market dampfkessel group activ measur caught articl ec treati payment bv final aid tranch dem million time extens deadlin privat investor aid element measur extend nomin coverag guarante time modif bv guarante agre decemb enabl dampfkessel creditor direct recours bv dem capit particip land saxoni anhalt compat aid measur treati measur caught articl ec treati gener incompat common market qualifi derog articl event member state oblig articl inform commiss aid present case articl commiss approv state aid circumst applic articl aid facilit develop econom activ econom area approv provid advers affect trade condit extent contrari common interest guidelin rescu restructur aid quot guidelin quot commiss spell detail condit posit exercis discret articl articl ec treati empow commiss approv state aid promot econom develop area standard live abnorm low underemploy german länder area present case main purpos aid restructur compani difficulti promot econom develop area successfulli restructur compani contribut develop area aid assess articl articl condit elig restructur aid set section rescu restructur guidelin aid measur mention recit satisfi condit elig aid beneficiari guidelin restructur aid grant compani difficulti newli found compani principl elig aid compani gener rank compani difficulti rule appli compani set liquid predecessor compani except rule concern compani receiv aid bv framework remit privatis state own east german compani except take account uniqu situat eastern germani applic privatis carri bv end present case aid measur favour dampfkessel group implement end view continu financi difficulti dampfkessel group includ newli creat subsidiari dhdb consid compani difficulti elig restructur aid point guidelin restructur aid grant present case modifi restructur plan dampfkessel group receiv aid packag aid measur subject decis account econom context eastern germani underw profound principl aid grant appli rigour restor long term viabil crucial precondit applic guidelin long term viabil compani restor reason timescal basi realist assumpt restructur plan address problem previous face dhd bankrupt predecessor compani possess technic financi resourc manag qualiti carri successfulli contract complet power plant successor compani dhdb focus market segment significantli market opportun futur act subcontractor builder power plant provid servic mainten contract requir expertis financi resourc limit scale rest focu customis solut dhdb avoid competit pressur exert larger competitor gener tend offer standardis product main remain subsidiari dampfkessel group dhdb profit consider integr dim group provid experi access custom integr larger compani successfulli oper relat market expect gener signific synergi dim provid subsidiari financ win carri contract manufactur industri rest commiss recal investor dim group past demonstr capac privatis successfulli state own manufactur compani relat sector east germani seri special circumst contribut decis failur initi restructur plan dhdb pend integr dim group render superflu commiss concern express formal investig open resourc made dhdb dampfkessel group undu distort competit aid beneficiari aid increas capac reduc capac event sector overcapac rule principl applic restructur assist area flexibl approach permiss case appli aid grant sme effect trade condit aid larg firm harm competit offset econom benefit basi inform possess commiss note state aid measur modifi restructur plan lead increas capac dhdb employe dhd limit capac expect natur group activ construct power plant provis relat customis servic capac dampfkessel group difficult quantifi final commiss point dampfkessel group face competit larger firm market construct power plant aid group insignific distort effect competit benefit restructur aid measur result undu distort competit guidelin compli respect proportion aid aid limit minimum requir carri restructur relationship restructur cost beneficiari make signific contribut cost restructur dampfkessel group connect commiss note privat investor assum respons origin plan state aid measur dem million guarante contribut light substanti financi resourc investor made dampfkessel group modifi restructur plan investor provid dhdb capit dem million grant sharehold loan dem million dh hold capit provid compani dampfkessel group privat sourc amount dem million stand relationship public fund provid compani dem million aid form extens deadlin redeem bv guarante commiss satisfi investor make signific contribut cost restructur full implement restructur plan compani receipt restructur aid fulli implement restructur plan approv commiss implement plan monitor basi annual report commun germani commiss iv conclus commiss note germani withdrawn notif plan dem million guarante dampfkessel hohenturm group find measur favour dampfkessel group list recit constitut state aid germani unlawfulli implement measur breach articl ec treati measur unlawfulli implement satisfi criteria laid guidelin compat common market pursuant articl adopt decis articl commiss note germani withdrawn notif plan dem million guarante dampfkessel hohenturm group articl ad hoc restructur aid form dem million grant bundesanstalt für vereinigungsbedingt sonderaufgaben bv extens bv deadlin investor redeem guarante modif bv guarante decemb dampfkessel creditor direct claim bv dem capit particip land saxoni anhalt germani grant dampfkessel hohenturm group compat common market articl restructur plan fulli implement measur ensur plan implement implement plan monitor basi annual report commun germani commiss condit laid articl met derog withdrawn articl decis address feder republ germani brussel juli commiss mario monti member commiss oj oj state aid commiss letter date sg footnot case law court justic court instanc european commun term quot undertak quot competit law understood design econom unit econom unit consist natur legal person case hydrotherm compact ecr case dsg dradenau stahlgesellschaft commiss ecr ii footnot footnot state aid quot treuhand regim quot approv commiss letter sg commiss decis refer footnot commun date germani confirm legal case spain commiss ecr case dmt ecr commun date commun date state aid commiss letter sg section commiss approv state aid case oj guidelin revis oj version appli present case aid measur grant prior public section guidelin footnot guidelin guidelin explicitli flexibl principl aid grant restructur oper eastern germani notifi end concern section guidelin section guidelin