Press Release: State aid: European Commission opens in-depth inquiry into state measures in favour of Greek textile producer United Textiles and its lending banks

The European Commission has opened an in-depth investigation to establish whether measures granted by Greece between 2007 and 2010 in favour of United Textiles S.A., a company in financial difficulties, are in line with EU State aid rules. In particular, the Commission has concerns that United Textiles received aid repeatedly since at least 2007, in breach of the EU rescue and restructuring guidelines. In addition, the Commission will investigate whether some of the measures could have transferred an undue advantage to the company's lending banks. The opening of an in-depth investigation allows interested third parties to comment on the measures under assessment. It does not prejudge the outcome of the investigation.