Bumech SA GPW:BMC:
SAID ON WEDNESDAY IT HAS FILED COMPLAINT TO EUROPEAN COMMISSION REGARDING ILLEGAL OR MISUSED PUBLIC AID
SAYS COMPLAINT CONCERNS SUPPORT MECHANISMS FOR STATE-OWNED COMPANIES THAT DISTORT FAIR MARKET COMPETITION
MECHANISM INCLUDES SUBSIDIES COVERING THE DIFFERENCE BETWEEN PRODUCTION COSTS AND COAL SALES REVENUE
COMPANIES WITH PARTIAL AND SOLE PARTICIPATION OF NON-STATE CAPITAL, SUCH AS LW BOGDANKA, JSW, AND BUMECH'S UNIT PG SILESIA, ARE EXCLUDED FROM THE AID
SAYS THIS GIVES STATE-OWNED MINING COMPANIES AN UNFAIR ECONOMIC ADVANTAGE, EXCLUDING UNSUBSIDISED COMPANIES FROM THE MARKET
Source text for Workspace:
Further company coverage: