2006/900/EC: Commission Decision of 20 October 2005 on the State Aid implemented by Finland for investment aid to Componenta Corporation (notified under document number C(2005) 3871) (Text with EEA relevance)

The state aid which Finland has implemented for Componenta Oyj, amounting to EUR 2383276,5 in the form of a payment from Karkkila City for shares in Karkkilan Keskustakiinteistöt Oy of EUR 713092,5 and an interest-free loan of EUR 1670184,0 granted from Karkkila City to Karkkilan Keskustakiinteistöt Oy, which was used by Karkkilan Keskustakiinteistöt Oy to repay Componenta Oyj for its outstanding loan of the same amount, is incompatible with the common market. This aid amount of EUR 713092,5 can be reduced if Finland provides evidence that the overvaluation of the land, as described above, is less than EUR 619760. The aid amount would then be reduced by the corresponding proven value of the shares in Karkkilan Keskustakiinteistöt Oy sold to Karkkila City.

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

2 Recovery shall be effected without delay and in accordance with the procedures under national law, provided that they allow the immediate and effective execution of this Decision.

3 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.

4 Interest shall be calculated in accordance with the provisions laid down in Chapter V of Commission Regulation (EC) No 794/2004 of 21 April 2004 implementing Council Regulation (EC) No 659/1999 laying down detailed rules for the application of Article 93 of the EC Treaty .

1 Finland shall inform the Commission, within two months of notification of this Decision, of the measures already taken and planned to recover the aid referred to in Article 1. It will provide this information using the questionnaire attached in the Annex of this Decision.

2 Finland shall also submit, within two months of notification of this Decision, documents giving evidence that recovery proceedings have been initiated against the beneficiary Componenta Oyj.

This Decision is addressed to the Republic of Finland.