EUROPEAN COMMISSION PROBES AID GIVEN TO GERMAN YARD IN 1993-95
The European Commission will start formal investigations into serious overpayments made in Germany to support the ailing shipyard Kvaerner Warnow Werft between 1993 and 1995.
According to official EC sources the compensation paid for actual losses of DM 119.3 million ($63 million) amounted to DM 513 ($270 million), contravening common market rules.