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Article: OFFICE SUPPLIES: COMMISSION LAUNCHES INVESTIGATION INTO RESCUE AID FOR HERLITZ.(Brief Article)
- Article from:
- European Report
- Article date:
- February 22, 2003
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Berlin-based Herlitz PBS is the operational core of the Herlitz Group, Germany's market leader in stationery, office supplies, greetings cards and so forth. The company has production sites in Berlin, Brandenburg, Saxony, Poland and the Czech Republic. In July 2002, the German Government notified the Commission of a rescue loan that had already been paid out to Herlitz PBS, amounting to Euro one million. The Commission says that it remains unclear as to who the real beneficiary of this aid is, and whether the loan really constitutes rescue aid.
The loan was awarded by the German Government after Herlitz AG, the parent company, filed for bankruptcy along with all ...