2005/786/EC: Commission Decision of 2 March 2005 on the State aid implemented by Germany for Chemische Werke Piesteritz (notified under document number C(2005) 427) (Text with EEA relevance)

• Articles: 4

Article 1

The State aid which Germany has implemented for Chemische Werke Piesteritz is incompatible with the common market.

The aid consists of the following measures:

1.

Measure 4: The waiver of a purchase price totalling EUR 3 181 769.

2.

Measure 5: The waiver of interest accumulated on the purchase price up to the end of 1996 and amounting to EUR 237 239.

3.

Measure 6: An investment grant of EUR 1 799 747.

4.

Measure 7 (including Measure 7a): A guarantee/loan from the BvS of EUR 644 228. The aid element of the guarantee is calculated as the difference between the reference interest rate plus 400 basis points and the interest rate at which the guaranteed loan was provided. The aid element of the loan is the difference between the reference interest rate plus 400 basis points and the interest rate at which the loan was provided by the BvS.

5.

Measure 8 (including Measure 8a): A guarantee/loan from the BvS of EUR 869 196. The aid element of the guarantee is calculated as the difference between the reference interest rate plus 400 basis points and the interest rate at which the guaranteed loan was provided. The aid element of the loan is the difference between the reference interest rate plus 400 basis points and the interest rate at which the loan was provided by the BvS.

Article 2

1.   Germany shall take all necessary measures to recover from the beneficiary the aid referred to in Article 1 and unlawfully made available to the beneficiary.

The loan under Measure 7 (including Measure 7a) and the loan under Measure 8 (including Measure 8a) shall be discontinued within two months following notification of this Decision.

2.   Recovery shall be effected without delay and in accordance with the procedures of national law provided that they allow the immediate and effective execution of the Decision. The aid to be recovered shall include interest from the date on which it was at the disposal of the beneficiary until the date of its recovery. Interest shall be calculated in accordance with the provisions of Chapter V of Commission Regulation (EC) No 794/2004  ( 26 ) .

Article 3

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

Germany shall provide this information using the questionnaire attached in the Annex to this Decision. In particular, it shall submit to the Commission all documents proving that recovery proceedings have been initiated against the beneficiary of the unlawful aid.

Article 4

This Decision is addressed to the Federal Republic of Germany.