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EU clears Slovakia aid for Samsung LCD plant

Reuters    Translate This Article
2 July 2008

BRUSSELS, July 2 (Reuters) - The European Commission cleared about 65 million euros ($103 million) in Slovakian aid to help South Korean electronics group Samsung build a plant in Slovakia making liquid crystal displays for televisions.

The project would require a total investment of nearly 300 million euros and create around 1,200 direct jobs plus 3,700 indirect jobs, spurring development in the region, the European Union executive said in a statement on Wednesday.

The Commission is in charge of upholding the EU's rules on state aid, which seek to ensure a level playing field for companies operating in the 27-nation bloc.

Last week, it cleared Polish aid worth 48.3 million euros for a new LCD display plant owned by a unit of Japanese electronics group Sharp Corp.

(Reporting by William Schomberg; Editing by Dale Hudson)

Copyright 2008 Reuters. Reprinted with permission from Reuters. Reuters content is the intellectual property of Reuters or its third party content providers. Any copying, republication or redistribution or Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. Reuters and the Reuters Sphere Logo are registered trademarks of the Reuters group of companies around the world. For additional information about Reuters content and services, please visit Reuters website at www.reuters.com. License # REU-4198-JJM.



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