2000/199/EC: Commission Decision of 17 March 1999 on State aid given by Greece to Heracles General Cement Company (notified under document number C(1999) 716) (Text with EEA relevance) (Only the Greek text is authentic)

• Articles: 4

Article 1

The recapitalisation of Heracles General Cement Company to the amount of GRD 27755 million constitutes aid within the meaning of Article 92(1) of the EC Treaty. Out of this aid a section amounting to GRD 25267 million is hereby found to be compatible with the common market, on the ground that it satisfies the tests for exemption under Article 92(3)(b) of the Treaty. The remainder of the aid, amounting to GRD 2488 million, is incompatible with the common market.

Article 2

1. Greece shall take the measures necessary to recover from the recipient the incompatible aid referred to in Article 1, which was granted to it unlawfully, and to secure the repayment of the sum of GRD 2488 million in aid referred to in Article 1.

2. Recovery shall be effected in accordance with the procedures of national law. The sums to be recovered shall bear interest from the date on which they were made available to the recipient until their actual recovery. The interest shall be calculated on the basis of the reference rate used to determine the grant equivalent of regional aid at the time when the aid was granted.

Article 3

Within two months of notification of this Decision, Greece shall inform the Commission of the measures it has taken to comply with it.

Article 4

This Decision is addressed to the Hellenic Republic.

Done at Brussels, 17 March 1999.

For the Commission

Karel VAN MIERT

Member of the Commission

(1) OJ C 84, 21.3.1996, p. 3.

(2) Joined Cases T-447/93, T-448/93 and T-449/93, AITEC and Others v. Commission [1995] ECR II-1971.

(3) OJ C 1, 4.1.1992, p. 4.

(4) OJ L 76, 22.3.1988, p. 18.

(5) OJ C 124, 11.5.1988, p. 4.

(6) See footnote 3.

(7) OJ L 73, 20.3.1991, p. 27.

(8) See footnote 3.

(9) See footnote 1.

(10) See footnote 5.

(11) See footnote 1.

(12) The observations summarised here are those submitted by the BCA and by three of its members, Blue Circle Industries plc, Castle Cement Ltd and Rugby Group plc. These Parties are referred to collectively as "the British cement industry".

(13) OJ L 26, 30.1.1977, p. 1.

(14) Institute of Economic and Industrial Research, The Competitiveness of the Greek Industry, Part D, The Cement Industry, Athens, June 1987 (report prepared on behalf of the Commission's DG III).

(15) The information on the Greek cement industry in this section is based mainly on two studies: (i) Institute of Economic and Industrial Research, The Competitiveness of the Greek Industry, Part D, The Cement Industry, Athens, June 1987 (report prepared on behalf of the Commission's DG III); (ii) Institute of Economic and Industrial Research, Cement Industry, Athens 1997.

(16) See footnote 1.

(17) First sample: Troy Almanac of Business and Financial Ratios (441 companies engaged in cement production during the period from July 1984 to June 1985). Second sample: Value Line databases (all cement industries in the USA in 1985). Third sample: Robert Morris & Associates, Annual Statement Studies (209 companies engaged in the production of cement and related products during the period from April 1985 to March 1986). Fourth sample: Robert Morris & Associates, Annual Statement Studies (136 ready-mix concrete companies during the period from April 1985 to March 1986).

(18) See the judgments of the Court of Justice in Case C-5/89 Commission v Germany [1990] ECR I-3437, paragraph 14, and Case C-169/95 Spain v Commission [1997] ECR I-135, paragraph 53.