European Commission approves €33m state aid for German paper manufacturer Hamburger RiegerAll Articles
Hamburger Rieger GmbH, a German container-board and plasterboard producer, plans to invest $399.3m (€363m) to expand its paper production capacity by setting up a new stock preparation process and building an additional paper machine in its existing production plant in Spremberg, Germany. The company will create 195 new jobs.
The EU Commission has found $36.3m (€33m) investment aid to Hamburger Rieger to be in line with EU state aid rules, in particular the Guidelines on Regional State Aid for 2014-2020, because it furthers regional development without unduly distorting competition in the Single Market.
EU Commissioner in charge of competition policy Margrethe Vestager said: "It's important that public investments foster economic growth in disadvantaged regions in Europe. We have carefully assessed the project. The investment aid to Hamburger Rieger will further develop the region without distorting competition and will help bringing truly innovative production processes to market.''
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