The European Commission ruled on 6 June that Euro 2.05 million state aid given to a German glasswork company was illegal. The EU executive has decided to declare the non-notified aid to Technische Gla…
The European Commission ruled on 6 June that Euro 2.05 million state aid given to a German glasswork company was illegal. The EU executive has decided to declare the non-notified aid to Technische Glaswerke Ilmenau GmbH (TGI), a company based in Ilmenau, in the East German state of Thuringia, incompatible with EU Treaty rules on anti-competitive aid given by national governments. Following this ruling, the German authorities must take all the necessary measures to recover the aid that were made available to the beneficiary, Technische. TGI is active in the field of special glass. It produces technical glassware for both domestic and industrial use. It was founded in 1994 with the aim of taking over four of the twelve production lines of the former Ilmenauer Glaswerke GmbH, a company that its sole owner, the Treuhandanstalt (the German state authority that has overseen the privatisation or closure of industries and businesses that operated in the former Eastern Germany following the fall of the Berlin Wall in 1989), decided to liquidate in the same year. The purchase price was Euro 2,991,000.