11. 5. 88 Official Journal of the European Communities No L 121/57 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 3 February 1988 on French Government aid to Pechiney, a company producing mainly aluminium . (Only the French text is authentic) | (88/283/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, and having regard to those comments, Whereas : | I By a letter dated 24 October 1983, addressed to the French Permanent Representation, the Commission informed the French Government that, according to the information in its possession, Pechiney, a company whose operations are centred on the production of aluminium, had embarked on a major restructuring and rational- ization drive. As the company had been nationalized in 1982 and had made a loss in previous years, the Commission took the view that Pechiney could not carry out its restructuring plan without government assistance, and this would therefore constitute aid within the meaning of Article 92 (1) of the EEC Treaty. The French Government was accordingly galled upon to notify, in accordance with Article 93 (3) of the Treaty, all measures to assist Pechiney within 15 working days from the date of the Commission’s letter. Having received no reply, the Commission telexed the _ French authorities on 25 November 1983 stating that, if it did not hear from them by 15 December, it would be obliged to initiate the procedure provided for in Article 93 (2) of the Treaty in respect of the aid linked to Pechiney’s restructuring effort. - No reply was forthcoming, so the Commission decided on 17 April 1984 to initiate the Article 93 (2) procedure in respect of FF 4 800 million in aid granted to Pechiney -in the form of capital contributions and equity loans. The Commission considered that the company would have the utmost “difficulty in finding the FF 16 000 million it needed to carry out its investment programme, whether from its own resources or by borrowing. Consequently, the grant by the State of FF 4 800 million in the form of capital contributions and equity loans seemed to contain aid elements falling under Article 92 (1) which were likely to distort competition. By letter dated 3 May 1984, it called upon the French Government to submit its comments. On 30 April 1985, the French Government informed the Commission of aid granted in 1984 to Cégédur, an aluminium products manufacturer. It transpired that Cégédur belonged to the Pechiney group. It is responsible for all the aluminium-processing operations of the group, with the exception of packaging. The aid had been granted in the form of a FF 80 million FIM (Industrial