EU Tells Alcoa to Repay Italy State Aid

Nov. 20, 2009
Claims company received subsidized electricity prices for two smelters

EU regulators on Nov. 19 ordered aluminium giant Alcoa to repay Italy for illegal state aid received since 2006 in the form of subsidized electricity prices for two smelters.

The European Commission did not detail the amount to be returned.

"Price subsidies that result in artificially low energy prices for selected companies waste taxpayers' money and distort competition in the single market," EU Competition Commissioner Neelie Kroes said.

"Alcoa will have to pay back most of the illegal subsidies," she said.

Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Achieving Maximum Value in Industry 4.0 with Intelligent Asset Management

June 27, 2022
Achieving Maximum Value in Industry 4.0 with Intelligent Asset Management.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!