commiss decis decemb ecsc steel forg de clabecq french dutch text authent text eea relev ecsc commiss european commun regard treati establish european coal steel commun articl thereof regard commiss decis ecsc novemb establish commun rule aid steel industri parti concern opportun submit comment accord abovement decis regard comment june belgian author notifi commiss accord articl decis ecsc hereinaft refer steel aid code financi assist grant region wallonia société wallonn de sidérurgi sw compani wholli own undertak forg de clabecq integr steel plant produc liquid steel finish flat product sheet flatten slab assist plan part restructur undertak consist chiefli capit inject bfr million pend commiss author assist enabl undertak continu oper rescu measur restructur undertak long term debt waiver claim sw subsidiari sa forg financ grant bridg loan belgium take view aid element involv basi inform commiss unabl share belgium opinion order obtain inform give interest parti opportun comment case commiss decid initi procedur provid articl decis ecsc framework procedur commiss receiv belgium repli octob letter interest parti commun belgian author comment novemb novemb letter receiv account commiss dispatch expiri time allow comment belgium present observ comment letter novemb ii forg de clabecq integr steel plant produc liquid steel finish flat product sheet flatten slab produc tonn cast iron tonn steel slab tonn sheet flatten slab annual product capac tonn cast iron tonn steel tonn hot roll sheet monthli turnov order bfr million workforc stood employe januari june undertak capit resourc bfr million financi debt bfr million debt commerci social tax debt total bfr million studi possibl futur undertak region wallonia sw decid control forg de clabecq drew recoveri plan undertak accompani number condit restructur author capit undertak bfr million broken sw socindu privat gener public stock exchang quotat remaind june belgian state sw held share consid scenario region wallonia decid maintain forg de clabecq integr steel plant time refocus limit rang product undertak advantag posit option advic independ expert conclus forg de clabecq surviv exist industri structur capit increas bfr million event possibl surviv structur year total product limit volum tonn hot roll sheet tonn slab includ tonn sale excess output liquid stage tonn dispos extern boël group undertaken continu tonnag recent year social contract sign employe june workforc cut period june shed workforc earli retir job lost redund voluntari departur enabl undertak continu oper pend final commiss decis region wallonia implement measur grant bridg loan amount bfr million advanc payment capit increas waiver loan claim sw subsidiari sa forg financ total bfr reschedul undertak debt financi institut belfin public hand snci recent privat iii belgian author maintain measur assist forg de clabecq constitut aid present argument clarif respons decis initi procedur descript case belgian author argu return profit sole depend reduc workforc job shed result exclus refocus undertak industri commerci activ market product nich finish mill effici margin undertak face competit strip mill wide sheet mill belgian author state financ social measur provid compens fund worker made redund event compani closur pursuanc gener legisl enabl current restructur treat closur maximum theoret ceil assist fund set bfr belgian author view aid involv legal basi belgian author regard commiss posit base restrict interpret ecsc treati rule aid assess capit inject public undertak commiss posit lead inter alia denial state public servic respons belgian author view abstract gener natur principl market economi investor prove inappropri determin measur involv state aid principl disregard social region sector polici consider capit inject irrespect consider belgian author maintain privat investor decis sw regard forg de clabecq frequent privat sharehold judg cost abandon ail compani high prefer continu support attempt save exist asset case forg de clabecq belgian author withdraw privat sharehold forg de clabecq due lack confid prospect restor compani viabil account factor privat sharehold lack financi resourc manag shortcom attribut privat sharehold sw reap benefit effort undertaken belgian author maintain fact sw fulli control region wallonia capit inject sw financ public fund recapit fact financ sw fund belgian author action sw logic privat investor circumst aim mean limit temporari invest return major effort part undertak reorgan cost cut capac reduct workforc larg job loss safeguard effort made reap benefit sharehold sw legitim account econom social oblig undertak econom convers walloon brabant belgian author commiss attach prioriti reduct product capac action sw case forg de clabecq line principl restructur plan enabl undertak adjust econom situat drawn implement involv reduct product capac belgian author stress object pursu arriv last solut problem forg de clabecq action commensur econom problem undertak face view enabl adjust commun wide competit prepar privat belgian author consider demonstr measur question constitut state aid regard derog rule prohibit state aid introduc commiss belgian author stress uncondit neg decis forg de clabecq commiss jeopard convers plan western part walloon brabant plan support walloon govern local author reli maintain level industri servic activ area concern paradox commiss nip plan bud time provid constant support reviv region face econom difficulti reschedul debt belgian author point belfin public bodi half share manag structur privat hand similarli snci control cger turn control privat group forti ag contrari commiss claim public bodi loan grant belfin forg de clabecq back state guarante belgian author incorrect claim bodi made defer claim condit increas guarante attach loan agre guarante maintain previou level undertak difficulti short term support banker générale de banqu banqu bruxel lambert kredietbank banqu pariba belgian author conclud view forego debt reschedul class aid correspond normal manag creditor claim compani context recoveri plan waiver claim belgian author maintain belgian state region wallonia interven waiver claim claim waiv sw sa forg financ context undertak restructur plan ensur liquid sa forg financ compani incorpor pursuant luxembourg law liquid complet juli subsidiari clabecq leas control basi sw forg de clabecq claim waiv amount bfr broken long term financ bfr short term loan bfr belgian author unlik creditor sw protect asset sharehold respect act privat sharehold creditor regard subsidiari belgian author stress acknowledg ecsc member state waiver claim confer abnorm fiscal advantag beneficiari fulli justifi regard bfr million loan grant renew commiss author belgian author commiss bear mind prompt support rescu plan safeguard sw asset interest loan rate negoti commiss paid regularli bridg loan belgian author grant bridg loan regard temporari rescu measur sw take view afford risk lose subsidiari pend definit decis ecsc author measur provid recoveri plan sw consid measur question constitut aid interest duti give recoveri plan chanc succeed iv procedur commiss receiv comment measur propos belgium compet undertak germani preussag stahl ag dilling hütte netherland koninklijk hoogoven unit kingdom british steel french steel feder fédération français de acier german steel produc associ wirtschaftsvereinigung stahl british iron steel produc associ bispa perman represent franc european union perman represent unit kingdom european union parti present comment unanim view belgium action assist forg de clabecq constitut state aid contrari ecsc treati steel aid code point larg amount excess capac heavi sheet market effort made industri adapt situat refer made aid receiv past forg de clabecq difficulti adjust fierc competit sector view histori current state market undertak present troubl regard temporari difficulti capit inject justifi market economi parti allow competitor oper aid order safeguard job simpli result closur compet plant job loss commun present situat steel industri difficult phase trigger race illeg subsidi call commiss aid measur propos belgian author stress insist amount paid recov belgian author repli comment parti inform commiss novemb consid observ submit respons letter formal notic adequ answer point made parti commiss view observ submit belgian author analys light abovement provis due regard comment submit parti assess case legal basi capit inject statement made belgian author descript case alter natur measur region wallonia assist forg de clabecq commiss posit state aid steel undertak role public undertak economi directli base legal instrument case point ecsc treati articl expressli prohibit state aid steel aid code commun law affect rule ownership member state fact belgian state public undertak order fulfil public servic respons accept commiss justif confer public undertak advantag distort threaten distort competit belgian author view sw act privat investor choos costli option restructur undertak close cost close ail undertak publicli privat own high articl steel aid code possibl aid closur deem compat common market condit owner undertak decid provid capit order restructur closur cost higher care ensur public undertak deriv advantag public statu act privat undertak state aid order determin answer question commiss appli principl market economi investor expressli provid articl steel aid code context commiss take view presumpt state aid involv inject capit compani capit divid privat public sharehold make public hold reach significantli higher level origin withdraw privat sharehold larg due compani poor profit outlook precis case forg de clabecq compani difficulti worsen privat sharehold part recapit complet withdrew compani belgian state purchas hold argument put forward belgian author chang situat lack financi resourc serv justifi withdraw invest regard viabl privat sharehold obtain financ bank previou privat sector manag compani held respons present difficulti chang natur withdraw contrari prove state replac privat sector appli belgian author claim state wish reap benefit effort undertaken region wallonia fail effort find partner part compani origin fund sw make capit inject natur involv sw public bodi fund irrespect origin regard state resourc purpos applic steel aid code commiss take view presumpt state aid involv financi situat compani structur volum indebted justif expect normal return dividend capit invest reason timescal case forg de clabecq level compani indebted equiti neg septemb result process began compani capit base constantli erod june capit amount bfr million june stood bfr million june fell bfr million june bfr million compani consist made loss bfr million bfr million bfr million bfr million compani experienc temporari difficulti structur crisi call drastic measur limit temporari invest view forego commiss conclud capit inject bfr million constitut state aid mean articl steel aid code reschedul debt appar statement belgian author belfin remain public control snci privat compani increas state guarante respect loan grant financi institut forg de clabecq extens exist guarante due date postpon belgian author state loan grant belfin forg de clabecq cover state guarante statement contradict letter belfin forg de clabecq date june transmit annex notif belfin state agre year postpon schedul repay capit loan grant belfin forg de clabecq subject condit agreement state extend guarante postpon due date contradict statement made belgian author incorrect claim institut made postpon due date condit increas guarante attach loan satisfi maintain annex letter juli clear guarante extend provis state guarante respect loan constitut state aid notifi commiss put effect approv articl steel aid code rule compli case loan grant forg de clabecq extens guarante respect loan year period increas aid element involv guarante come time undertak technic insolv point procedur initi amount aid involv guarante correspond case total amount guarante undertak obtain loan postpon due date guarante guarante respect loan grant belfin snci extens postpon due date constitut state aid aid illeg grant commiss prior author breach articl steel aid code waiver claim state earlier concept aid appli steel aid code includ aid element contain transfer state resourc institut bodi steel undertak sw public bodi sa forg financ transfer compani steel undertak fall scope articl steel aid code waiver claim compani total bfr million bfr million sa forg financ bfr million sw constitut state aid grant counter concess privat institut situat undertak technic insolv illeg aid grant commiss prior author breach articl steel aid code bridg loan belgian author inform commiss bridg loan grant total bfr million view rescu measur order undertak busi pend commiss decis anticip measur regard constitut aid loan grant sw constitut state aid privat financi credit institut agre market condit illeg aid grant commiss prior author breach articl steel aid code vi begin commun steel product risen substanti period slacken fell sharpli month year total stood million tonn increas figur previou year month commun steel product continu fall sharpli ow low level activ user sector gener trend stock reduct total fall product month comparison period sector forg de clabecq oper sheet flatten slab capac util remain low year improv observ rate capac util commun eur stood liquid steel hot rollet sheet rate capac util eur market excess capac independ expert refer conclus extrem difficult forg de clabecq find outlet product extrem poor competit product cost higher averag european competitor higher effici competitor gap bridg bfr million invest regard minimum maintain undertak integr steel plant expert conclud solut enabl forg de clabecq stai busi present industri structur vii financ measur analys preced section constitut aid mean articl steel aid code belgian author situat action context restructur forg de clabecq refer commiss applic capac reduct criterion assess specif case conclud measur assist forg de clabecq regard derog rule prohibit state aid introduc commiss distinct drawn hand prohibit state aid enshrin ecsc treati except aid measur refer articl steel aid code hand provis articl treati pursuant state aid restructur exception approv specif case treat commun aid aid type case approv commiss unanim assent council present case belgium ask aid approv commun interest procedur laid articl ecsc treati belgian author stress import save forg de clabecq order ensur success convers plan western part walloon brabant commiss refer legal framework decis forg de clabecq steel undertak subject rule ecsc treati prohibit state aid steel aid code region restructur aid aid connect plan western part walloon brabant grant activ undertak fall scope ec treati mean articl steel aid code commiss assess compat aid provis articl code articl steel aid code aid research develop deem compat common market condit met financ measur region wallonia assist forg de clabecq intend defrai expenditur research develop project belgian author make claim notif measur regard satisfi condit articl code articl steel aid code aid environment protect deem compat common market condit met financ measur region wallonia assist forg de clabecq intend defrai expenditur bring plant line statutori environment standard belgian author make claim notif measur regard satisfi condit articl code articl steel aid code aid closur deem compat common market condit met financ measur region wallonia assist forg de clabecq intend contribut expenditur facilit closur undertak belgian author make claim notif measur regard satisfi condit articl code articl steel aid code appli undertak locat greec portug territori german democrat republ appli forg de clabecq financ measur region wallonia regard satisfi condit articl code measur region wallonia assist forg de clabecq incompat steel aid code orderli function common market illeg aid paid reimburs accord procedur provis belgian law basi calcul commerci interest rate refer rate calcul net grant equival region aid order restor previou situat remov financi benefit undertak improperli enjoi date aid paid adopt decis articl measur belgium assist forg de clabecq capit inject bef million provis state guarante respect loan grant belfin snci waiver claim amount bef million bef million sa forg financ bef million sw grant bridg loan total bef million constitut state aid mean articl decis ecsc articl aid measur refer articl incompat common market satisfi condit laid articl decis ecsc provid articl decis prohibit articl treati articl belgium requir abolish aid measur refer articl demand illeg aid paid reimburs interest date paid month date notif decis reimburs effect accord procedur provis nation law basi calcul commerci interest rate refer rate calcul grant equival region aid articl belgium inform commiss measur compli decis month date notif articl decis address kingdom belgium brussel decemb commiss karel van miert member commiss oj oj