1999/196/ECSC: Commission Decision of 14 July 1998 on guarantees granted to Eisen- und Stahlwalzwerke Rötzel GmbH (notified under document number C(1998) 2369) (Only the German text is authentic) (Text with EEA relevance)

• Articles: 4

Article 1

The aid in the form of an 80 % guarantee granted by the Land of North Rhine-Westphalia in respect of a bank credit of DEM 15 million for Eisen- und Stahlwalzwerke Rötzel GmbH in Nettetal is unlawful since it was not notified in advance. Furthermore, it is incompatible with the common market for coal and steel under point (c) of Article 4 of the ECSC Treaty.

Article 2

Germany shall, in accordance with the provisions of German law relating to the recovery of amounts owed to the State, recover the DEM 12 million which is the full amount guaranteed in favour of Eisen- und Stahlwalzwerke Rötzel GmbH in Nettetal. In order to nullify the effects of the aid, interest shall be charged on that amount from the date on which the aid was granted to the date on which it is repaid. The rate of interest shall be that applied by the Commission in calculating the net grant equivalent of regional aid during the period in question.

Article 3

Germany shall inform the Commission, within two months of notification of this Decision, of the measures taken to comply herewith.

Article 4

This Decision is addressed to the Federal Republic of Germany.

Done at Brussels, 14 July 1998.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 338, 28. 12. 1996, p. 42.

(2) OJ C 328, 30. 10. 1997, p. 11.