Press Release: State aid: Commission approves EUR13 million of public funding for R&D project by Abbott Vascular Devices

The European Commission on 5 April 2006 endorsed, under the EC Treaty’s rules on state aid, €13 million of public funding for a research and development project by Abbott Vascular Devices Ireland at its facility in Galway. The project aimed at establishing a global endovascular and coronary R&D centre. As all the requirements of the Community framework for state aid for research and development were met, the Commission considered that the aid did not threaten to distort competition and was compatible with the EC Treaty (Article 87).