BMW Gets EU Aid For Leipzig Plant.
Article Tools
Add to My Bookmarks
Adds Article to your Entrepreneur Assist Bookmark page.
The European Union Commission granted a $371 million aid package
to German car maker BMW to build a plant in Leipzig, Germany, but turned
down an additional $57 million. The extra aid "is considered
incompatible" with state aid rules, the Commission said in a
statement. Under EU rules for the automobile sector, aid granted to
companies must not exceed the savings they would have made by moving
elsewhere.
The Munich-based car maker intends to produce its 3-series model in
Leipzig and will start production in 2005. The factory will employ
around 5,500 people.
COPYRIGHT 2002 International Trade
Services Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2002, Gale Group. All rights
reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.
Browse by Journal Name: