No L 367/62 Official Journal of the European Communities 16. 12. 89 (Acts whose publicatt:on is not obligatory) COMMISSION COMMISSION DECISION of 3 May 1989 concerning aid provided or to be provided by the Spanish Government to Enasa, an undertaking producing commercial vehicles under .the brand ‘Pegaso’ (Only the Spanish text is authentic) (89/633/EEC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, " Having regard to the Treaty establishing the European Economic Community, and in particular the first subparagraph of Article 93 (2) thereof, Having given notice in accordance with the above Article to interested parties to submit their comments, Whereas : 1 By letter dated 17 September 1986, the Commission requested from the Spanish Government information concerning an alleged aid in the form of new capital that the Spanish authorities, according to press information, intended to inject in Enasa in 1986. By letter dated 6 February 1987 from the Spanish Permanent Representation,” it was confirmed that the public holding INI contributed in 1986 Ptas 5000 million to Enasa destined for the finance of extraordinary costs subsequent to adjustments in capacity and employment as well as for the finance of stocks from military production. Information was also given as concerns the capital injections awarded in 1983 and 1985, Enasa’s industrial activities, its commercial and financial problems, the ongoing reduction of employment, the future investments and the company’s difficulties resulting from Spain’s accession to the Community. On 20 May 1987, the Commission decided to initiate the procedure provided for in Article 93 (2) with respect to the non-notified capital injection provided by the public holding INI to ENASA for the year 1986. In taking its decision, the Commission considered that in view of the financial performance of the undertaking in question since 1981, which was characterized by losses and heavy indebtedness, the injection of new capital -of Ptas 5 000 million cannot be considered as the provision of risk capital according to standard company practice in a market economy and that therefore it constitutes an aid within the meaning of Article 92 (1) of the Treaty. In view of the overcapacity problems that the commercial and industrial vehicle industries are facing at Community level, and of the lack of an agreed and concise restruc- turing plan for Enasa, which should not only restore the undertaking’s viability but should also contribute in a significant way to the rationalization of the concerned Community industries, the Commission considered that the aid measure in question could not benefit from the exceptions in Article 92 (2) and (3) of the Treaty. By letter of 25 May 1987 the Commission gave the Spanish Government notice to submit its comments and respond to the precise questions which were raised in the letter. In accordance with Article 93 (2), the other Member States and third parties were also given notice to submit their comments. II Within the framework of the procedure, the Spanish Government submitted its observations by letter dated 14 September 1987. In this letter, the Spanish Government expressed its view that the capital injection of Ptas 5 000 million which was contributed by INI on 30 December 1986, cannot be considered as aid in terms of the