Press Release: State aid: Commission finds aid for Finnish Property Company Ålands Industrihus incompatible with EU state aid rules and orders recovery

After careful investigation, the European Commission has found that financing granted by the local government of Åland to Ålands Industrihus Ab (ÅI), a state-owned commercial property company, was well below market prices and amounted to a subsidy that is not allowed under EU State aid rules.

The aid has given the company an unfair advantage over its competitors that have to operate without such subsidies. The Commission has therefore ordered Finland to recover the aid of around €4.7 million, plus interest, from the company situated in the Åland islands, located in the Baltic Sea between mainland Finland and Sweden.