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EU exec orders Spain to recover SNIACE aid

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Reuters
Published
today Mar 14, 2009
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BRUSSELS, March 10 (Reuters) - The European Commission ordered Spain on Tuesday to claw back government aid given to synthetic fibre maker SNIACE (SNCE.MC), saying the payment breached state aid rules.

"The Commission has therefore ordered Spain to recover aid amounting to more than 22.6 million euros ($28.7 million), plus interest, from SNIACE," the EU executive said in a statement.

The aid was given to SNIACE between 1995 and 1996. (Reporting by Foo Yun Chee, editing by Dale Hudson)

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