Press Release: State aid: Commission approves investment aid to Slovak company INA Kysuce and opens in-depth investigation into aid to Slovak subsidiary of Glunz&Jensen

The European Commission has authorised, under the EC Treaty’s state aid rules, investment aid in the form of tax relief worth €30 million for INA Kysuce for the extension of an existing plant producing ball bearings in Kysucké Nové Mesto, Central Slovakia. The total costs of the new investment amount to approximately €140 million. At the same time, the Commission has decided to open an investigation into €1.15 million of public funding for an investment project by Glunz&Jensen in Prešov, Eastern Slovakia because it has doubts as to its compatibility with the EC Treaty state aid rules. The opening of an in-depth investigation gives interested parties the possibility to comment on the proposed measures. It does not prejudge the outcome of the procedure.