Press Release: State aid: Commission orders recovery of incompatible Slovak state aid from NCHZ and Fortischem

The European Commission concluded on the 15 October 2014 that the Slovak chemical company Novácké chemické závody a.s. (NCHZ) benefitted from incompatible state aid during its bankruptcy procedure and that this aid had to be paid back. Moreover, the investigation showed that Fortischem, who acquired practically the entire NCHZ business, was the economic successor of NCHZ and thus also benefitted from the aid. Therefore, both NCHZ and Fortischem were liable to pay back the aid.

• Primary Source

ESO: Background information: State aid: Commission opens in-depth inquiry into State measures in favour of Slovak company Novácké chemické závody (NCHZ) http://www.europeansources.info/record/press-release-state-aid-commission-opens-in-depth-inquiry-into-state-measures-in-favour-of-slovak-company-novacke-chemicke-zavody-nchz/

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