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Electronics Production | July 19, 2007

EU approves €262 m aid<br>for AMD Dresden

EU competition regulators approved on Wednesday 262 million euros in aid that Germany plans to give US microprocessor giant AMD for a plant in the poor eastern part of the country.
The European Commission found that the funds, worth 361 million dollars, met EU state aid rules because they would be used to extend a factory in Saxony, which would lead to 565 new jobs being created. The total cost of the works is estimated to reach 2.2 billion euros. Under EU rules, state aid plans must be reported to the European Commission, which then has to rule on whether they will stifle competition in the market and should be allowed or not.

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