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Commission approves aid for Ford Werke AG, Belgium

The European Commission has approved a proposal from the Flemish regional authorities to grant regional and environmental aid to the car company, Ford Werke AG, in Genk, Belgium. The proposed regional aid will take the form of a grant of ECU 24.1 million which will be used to...

The European Commission has approved a proposal from the Flemish regional authorities to grant regional and environmental aid to the car company, Ford Werke AG, in Genk, Belgium. The proposed regional aid will take the form of a grant of ECU 24.1 million which will be used to expand the capacity of the Genk plant of the company with a view to launching the new Ford Mondeo passenger car series. Environmental investments are also linked to this project. This amount will be paid in three equal annual installments between 1995 and 1997. In addition to this direct financial aid, the company will also benefit from a property tax exemption of 5 years, the present value of which is estimated at ECU 4.5 million.

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Belgium