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EU approves state aid to e-glass AG

The European Commission said 20 April 2004 that it approved a state aid package to cover 35% of the investment required for German float glass manufacturer e-glass AG to build a new plant in Slzetal-O…

The European Commission said 20 April 2004 that it approved a state aid package to cover 35% of the investment required for German float glass manufacturer e-glass AG to build a new plant in Slzetal-Osterweddingen, Saxony-Anhalt. The company will use the EUR 42.35 million in funding to build a new raw float glass plant. The output of the plant will then be processed further for uses in the building and auto industries. The Commission said the total cost of the new plant, which will be built in Saxony-Anhalt, amounts to EUR 121 million. The plant is located in an assisted area where regional State aid of up to 35% gross can be granted. The project will create about 186 jobs directly with the firm and more than 300 additional jobs in the assisted region.

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