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Italy: Government must take back millions in aluminum state aid

By  |  October 17, 2013

The European Union Court of Justice, the EU’s highest court, has upheld an earlier European Commission decision ruling that Italy must recover nearly $400 million in state aid previously given to US-based Alcoa Inc., a producer of aluminum.

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    The Commission ruled in 2009 that Italy must take back the aid following findings that the funds offered the company an unfair advantage over competitors. Italy established an electricity tariff for Alcoa’s operations within Italy.

    The Italian government reportedly failed to recover the aid following the Commission’s decision.

    The Court agreed and ordered Thursday that Italy must recover the funds.

    Full content: Reuters

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