Lecta Provides Status on Conversion of PM 8 at Condat Mill in France
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In recent years, Lecta has been evaluating alternatives with respect to the conversion of the Line 8 at the Condat mill in France.
The alternatives have included investigating a broad range of possible partnering arrangements with local, regional and national authorities, including amongst others financial support and workforce training subsidies.
In particular, Lecta has become aware that recently a particular initiative being explored requiring the European Commission approval, with respect to energy contribution subsidies over a 3 year period representing an aggregate potential value to the business of up to EUR 35 million over such period, has been objected to on a preliminary basis during the pre-notification phase by the European Commission.
It should be noted that this decision is not binding and the Lecta Group continues to engage with the relevant French authorities with regards to this initiative as well as other potential arrangements not subject to pre-notification.
