IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 18 Dec 2013 | Removal date: open ended
Still in force

Loan guarantee

On 5 November 2013, Italy notified the EC about its intention to rescue ACC Compressors S.p.A., a manufactuer of compressors for refrigerators.
 
ACC was declared insolvent on 28 June 2013 and needed to raise new money to cover liquidity needs. The State accepted to guarantee for lines of credit up to EUR 13.6 million for a maximum period of six month.
 
The EC states that: 'By granting ACC access to liquidity which it would not otherwise obtain at market conditions, the State guarantee is apt to improve the competitive position of ACC in relation to its competitors in the internal market. It consequently distorts or threatens to distort competition and affects trade between Member States.' (para. 18, letter from the EC to Italy, Brussels 18 December 2013)
 
The EC also provides a short market analysis and confirms the existence of 'competition in the EU'. The EC further specifies the competitors as the German 'SECOP'and other 'non-EU producers' on the market (para. 17)
 
The list of affected countries is based on the top 20 exporting countries of compressors for refrigerators.
 
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

432 Pumps, compressors, hydraulic & pneumatic power engines; parts
8414 Air or vacuum pumps, air or other gas compressors and fans; ventilating or recycling hoods incorporating a fan, whether or not fitted with filters.
841410 Vacuum pumps
841420 Hand or footoperated air pumps
841430 Compressors of a kind used in refrigerating equipment
841440 Air compressors mounted on a wheeled chassis for towing
841480 Other
841490 Parts
439 Other general-purpose machinery & parts
8414 Air or vacuum pumps, air or other gas compressors and fans; ventilating or recycling hoods incorporating a fan, whether or not fitted with filters.
841459 Other
448 Domestic appliances & parts
8414 Air or vacuum pumps, air or other gas compressors and fans; ventilating or recycling hoods incorporating a fan, whether or not fitted with filters.
841451 Table, floor, wall, window, ceiling or roof fans, with a self contained electric motor of an output not exceeding 125 W
841460 Hoods having a maximum horizontal side not exceeding 120 cm

Please report this page in case you detect an inaccuracy in its content.