97/21/EC, ECSC: Commission Decision of 30 July 1996 on State aid granted in favour of Compañía Española de Tubos por Extrusión SA, located in Llodio, Álava (Only the Spanish text is authentic) (Text with EEA relevance)
The following measures by Spain in relation to Compañía Española de Tubos por Extrusión SA (Tubacex) and Acería de Álava contained aid elements which were granted illegally and are incompatible with the common market pursuant to Article 92 of the EC Treaty and Decision No 3855/91/ECSC in so far as the rate of interest was below market rates:
1. the 10 July 1992 loan agreement between the wage guarantee fund (Fogasa), Tubacex and Acería de Álava covering Pta 444 327 300 in principal, as amended by agreements of 8 February 1993 and 16 February 1994 (covering principal of Pta 376 194 872 and Pta 372 000 000 respectively);
2. the 10 March 1994 loan agreement between Fogasa, Tubacex and Acería de Álava covering Pta 465 727 750 in principal, as amended by the agreement of 3 October 1994 covering Pta 469 491 521 in principal;
3. the agreement of 25 March 1994 between the Social Security Treasury and Acería de Álava to reschedule debts amounting to Pta 274 409 604;
4. the agreement of 12 April 1994 between the Social Security Treasury and Tubacex to reschedule debts amounting to Pta 1 409 957 329.
Spain shall abolish the aid elements contained in the measures referred to in Article 1 by withdrawing them or by applying normal market conditions to the interest rate, with effect from when the Fogasa loans were initially granted and from when the rescheduling of the post-suspension Social Security debts was agreed; and by recovering the sum corresponding to the difference between this rate and the rate actually charged up until the date of abolition of the aid.
This sum shall be recovered in accordance with the procedures and provisions of Spanish law together with interest. The interest rate used shall be the same normal market rate referred to in the preceding paragraph, with such interest starting to run from the date of the grant of the aid until the date of effective reimbursement.
As regards the other matters that were the subject of the proceedings commenced pursuant to Article 93 (2) of the EC Treaty and Article 6 (4) of Decision No 3855/91/ECSC, namely the sale of land to the Basque Government and the participation of public bodies (and in particular the Social Security Treasury) in the lifting of the suspension of debt repayments, those measures do not constitute aid and the procedure can therefore be closed.
Spain shall inform the Commission within two months of the date of notification of this Decision of the measures taken to comply therewith.
This Decision is addressed to the Kingdom of Spain.
Done at Brussels, 30 July 1996.
For the Commission
Hans VAN DEN BROEK
Member of the Commission
(1) OJ No L 362, 31. 12. 1991, p. 57.
(2) OJ No C 282, 26. 10. 1995, p. 3.
(3) OJ No L 5, 8. 1. 1991, p. 18.
(4) OJ No L 298, 22. 11. 1996, p. 14.
(5) OJ No C 320, 13. 12. 1988, p. 3.
(6) OJ No C 368, 23. 12. 1994, p. 12.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
