EU Commission approves financial measures of takeover of Bremer Vulkan (Germany) by Lürssen (Germany)
;The European Commission has approved financial measures of the Federal State of Bremen in connection of the takeover of Bremer Vulkan Marineschiffbau GmbH (BVM) by Lürssen Maritime Beteiligung GmbH & Co.KG (LMB).
;These measures consist in euro 2.3 million (DM 4.6 million) contribution to the employment costs of 100 workers, in a waiver of a loan of euro 2.5 million (DM 5 million) granted to BVM by State owned Hanseatische Industrie Beteiligungen GmbH (HIBEG) and in investment aid of euro 450,000 (DM 900,000) for intended investments. The Commission considers that the financial measures taken and to be taken by Germany in favour of naval shipbuilding, are necessary for the protection of the essential interests of its security. The investment aid of euro 450,000 (DM 900,000) is compatible with the common market because based on the approved regional aid scheme "Gemeinschaftsaufgabe Verbesserung der regionalen Wirtschaftsstruktur" (GRW).
;In March 1998 the Commission decided to open the state aid procedure to examine the financial measures of the Federal State of Bremen in connection with the takeover of Bremer Vulkan Marineschiffbau GmbH (BVM) by Lürssen Maritime Beteiligung GmbH & Co.KG (LMB). BVM is a former subsidiary of Bremer Vulkan Verbund AG exclusively active in naval shipbuilding. LMB is owned by the Friedrich Lürssen Werft GmbH, a medium size shipyard, located in the North of Bremen, primarily active in naval shipbuilding, specializing in minesweepers, combat boats and occasionally in the construction of large yachts.
;The financial measures taken by the Federal State of Bremen were considered to be taken in favour of naval shipbuilding and thereby being part of protection of the essential security interests of Germany's security in the meaning of Article 223 of the EC-Treaty. For this reason, the Treaty Articles 92 and 93 on state aid do not apply to these measures.
;The investment aid of euro 450,000 (DM 900,000) relates to the upgrading of a dock purchased from the former Bremer Vulkan yard and is based on an approved regional aid scheme. Commission decided when the Bremer Vulkan yard was closed in 1997 that this dock may only be used in naval shipbuilding and building of vessels. In this case, as far as the use of the dock is related to the building or repair of yachts, the investment aid is approved according to Article 92(3)(c) of the Treaty.
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EU Commission approves financial measures of takeover of Bremer Vulkan (Germany) by Lürssen (Germany)
