Press Release: State aid: the Commission approves EUR33 million of public funding for an R&D project by Philips Semiconductors, Caen

The European Commission on 17 February 2005 authorised, under the EC Treaty's rules on state aid, €33 million of public funding for a research and development project by Philips Semiconductors at its facility in Caen. The project was aimed at developing a new, innovative technology designed to meet the needs of high-frequency wave communications markets. As all the requirements of the Community framework for state aid for research and development were satisfied, the Commission considered that the aid did not threaten to distort competition in the single market and was therefore compatible with the EC Treaty (Article 87).