INVESTMENT AID TO FINNISH METAL ENCLOSURES FIRM WAVED THROUGH.

The European Commission has cleared an investment aid injection to help set up a new mechanical product manufacturer, Ricdon OY, in Finland. With the help of the investment aid, this small firm, based in the municipality of Kannus, will start manufacturing assembled metal electronic enclosures used mainly for data transmission equipment with an estimated market share in Europe of 5%. Combined investment in Ricdon OY will amount to ECU 17.4 million between 1998 and 2003, which the Finnish authorities will support by granting an interest-free loan of ECU 4.2 million for a period of 10 years. As the company will not actually have to make any repayments on the loan, the Commission has established, the entire the loan can be understood as a subsidy.

...