Press Release: State aid: Commission approves changes to the restructuring plan of Croatian shipyard Brodotrogir

The European Commission has authorised an amendment to the restructuring plan for Brodotrogir, one of the Croat shipyards in difficulty. Indeed, the distortion of competition that may arise from the modest increase in the total amount of restructuring aid is offset by the additional compensatory measures proposed by Croatia, in line with EU Guidelines on state aid for restructuring companies in difficulty. Moreover, Croatia committed to sign the privatisation contract for the yard within two weeks from the receipt of the Commission decision.

This will allow the completion of the privatisation process by 1 July 2013, i.e. the date of accession of Croatia to the EU, as foreseen in the Act of Accession.

• Primary Source

ESO: Background Information: Press Release: State aid: The Commission approves changes to the restructuring plan of the Brodosplit shipyard http://www.europeansources.info/record/press-release-state-aid-the-commission-approves-changes-to-the-restructuring-plan-of-the-brodosplit-shipyard/

---