Tuesday, March 11, 2008

NRW claims €60m from Nokia

Nokia had announced in January that it would close its manufacturing plant in Bochum, Germany. This will result in the loss of 2,300 jobs and has infuriated the German publics and government alike.

Today, NRW Bank sent Nokia a demand note over nearly €60 million -- the subsidies plus interest -- to be paid by March 31. Otherwise the bank would take legal action to secure payment. The state economy ministry claims that Nokia has failed to fulfill conditions under which it had to create a minimum of 2860 permanent jobs.

It said in a statement that Nokia last week called for a discussion of the state's demand for repayment, and that "a meeting will be offered in the next few days." Espoo, Finland-based Nokia said it was "astonished" by NRW initial effort to recall the subsidies, and argued that it "not only fulfilled the conditions of the agreement, it exceeded them."

Form : http://www.evertiq.com/