Reuters: Regulatory News: EU regulators to investigate Spanish aid for Ford

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EU regulators to investigate Spanish aid for Ford May 15th 2013, 09:56 BRUSSELS | Wed May 15, 2013 5:56am EDT BRUSSELS May 15 (Reuters) - EU antitrust regulators will investigate whether a 25.2 million euros ($32.71 million) grant given by Spanish authorities to U.S. carmaker Ford Motor Co's van facility in Valencia breached EU state aid rules. Ford plans to produce a new model of Ford Transit Connect in Valencia, with the cost of the project estimated at 419.9 million euros. Spain informed the European Commission of its grant last year. The European Commission said on Wednesday that a preliminary investigation showed that the project might exceed the authorised 5 percent increase in production capacity on a market in decline. "At this stage, the Commission has doubts that the data provided by Spain is appropriate to determine whether the market concerned is in decline," it said in a statement.

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