natgillin/translations-raw huggingface dataset:
Moreover, several of the elements of the own contribution, such as the planned divestments or the contribution from third-party investors to New Areva's capital injection, were still too uncertain to be classified as ‘real and actual’.
Osim toga, više operacija koje stvaraju vlastiti doprinos, kao što su različite prodaje ili doprinos trećih ulagača u kapital Nove Areve, činilo se pretjerano nesigurnim kako bi se ti doprinosi mogli smatrati„stvarnim i konkretnim” doprinosima.
Doubts about the measures to limit distortions of competition
Sumnje u pogledu mjera kojima se ograničava narušavanje tržišnog natjecanja
The Commission recognised that the various total or partial divestments undertaken by the Areva Group resulted in a significant reduction in the scope of its business — some 50 % based on consolidated turnover or on the number of staff.
Komisija je priznala da su različite potpune ili djelomične prodaje koje je provela grupa Areva dovele do znatnog smanjenja njezina područja djelovanja u iznosu od 50 %, uzimajući kao parametre konsolidirani promet ili broj zaposlenika.
However, the impact of these divestments on the competitive situation was not obvious.
Međutim, nije jasno pokazan učinak tih prodaja na konkurentnost.
In the Commission's view, not all the divestments could be placed on the same footing.
Prema tome, Komisija je smatrala da se te prodaje ne mogu smatrati jednakima.
The sale of relatively small subsidiaries such as Areva TA or Canberra was not in proportion to the scale of the planned aid.
Čini se da prodaja razmjerno malih društava kćeri, kao što su Areva TA ili Canberra, nije razmjerna iznosu predviđene potpore.
There remained the partial divestment of New Areva NP, which did seem in line with the amount of the aid, but did not appear to have a direct impact on the markets in which the Areva Group would have a significant position after the restructuring.
Prema tome, preostala je djelomična prodaja Nove Areve NP, čiji se opseg čini razmjernim opsegu potpore, ali za koju se čini da se ne odnosi izravno na tržišta na kojima bi grupa Areva imala važan položaj nakon restrukturiranja.
The Commission had questions therefore about the two assumptions underpinning the assertion by the French authorities that this was a pro-competitive measure: first, that there were strong synergies between the reactors business and the fuel cycle business, such that there was an advantage to operating as an integrated group in nuclear markets; and second, that the Areva Group would lose the benefit of these synergies by divesting its subsidiary New Areva NP.
Prema tome, Komisija je postavila pitanja o dvjema pretpostavkama zbog kojih su francuska nadležna tijela utvrdila da se zaista radi o mjeri potpore s učinkom u korist tržišnog natjecanja: prvo, da su postojale snažne sinergije između djelatnosti povezane s reaktorima i djelatnosti povezane s gorivnim ciklusom, što znači da je činjenica da se radilo o integriranoj grupi na nuklearnim tržištima predstavljala prednost; drugo, da bi grupa Areva izgubila korist od tih sinergija prodajom svojeg društva kćeri Nova Areva NP.
Regarding the second assumption in particular, the Commission noted that, by virtue of a Memorandum of Understanding signed by EDF and the Areva Group on 20 July 2015, the two groups appeared to be rebuilding contractually the synergies that had previously existed structurally.
U pogledu druge pretpostavke Komisija je primijetila da se čini da su, na temelju memoranduma o razumijevanju koji su 20. srpnja 2015. potpisali EDF i grupa Areva, dvije grupe ugovorno rekonstruirale sinergije koje su dotad postojale na strukturnoj razini.
For these different reasons, the Commission had doubts about the effects that the divestment of New Areva NP would have on the Areva Group's competitive position in its markets after the restructuring, and thus about whether this compensatory measure was sufficient.
Zbog tih je razloga Komisija izrazila sumnje u pogledu učinaka prodaje Nove Areve NP na konkurentski položaj grupe Areva na njezinim tržištima nakon restrukturiranja, a prema tome i na dostatnost te mjere naknade.
Lastly, the Commission was surprised that the French authorities refused to give an undertaking as required in the Guidelines that the restructuring aid would not be used to acquire shares.
Zaključno, Komisija je bila iznenađena francuskim stajalištem u smislu odbijanja preuzimanja obveze utvrđene u smjernicama da potporu za restrukturiranje neće upotrijebiti u cilju stjecanja udjela.
The Commission therefore invited the French authorities to include any such transactions in the restructuring plan, if they were found to be indispensable to the return to long-term viability of the Areva Group.
Zbog toga je Komisija pozvala francuska nadležna tijela da takve operacije uključe u plan za restrukturiranje ako se pokažu apsolutno neophodnima za ponovnu uspostavu dugoročne održivosti grupe Areva.
COMMENTS BY THIRD PARTIES
PRIMJEDBE ZAINTERESIRANIH TREĆIH STRANA
The Areva Group
Grupa Areva
The Areva Group gave its full support to the comments submitted by the French authorities on 12 September 2016, which it had helped to formulate.
Grupa Areva u potpunosti podupire odgovore koje su francuska nadležna tijela dostavila 12. rujna 2016., a u čijoj je izradi i sudjelovala.
With respect to the doubts expressed by the Commission, the Areva Group stressed the following key points:
U pogledu sumnji koje je izrazila Komisija, grupa Areva ponajprije ističe sljedeće:
The Areva Group was confident that the restructured Group would return to long-term viability, thanks to its modernised industrial plant and the expected growth in energy demand.
grupa Areva izražava uvjerenost u dugoročnu održivost restrukturirane grupe Areva, koja se temelji na postojanju modernizirane industrijske imovine i očekivanom rastu potražnje za energijom;
The divestment of New Areva NP to EDF constituted a sufficient compensatory measure.
prodaja Nove Areve NP EDF-u predstavlja dostatnu mjeru naknade.
It would have a significant negative impact on the restructured Areva Group's competitive position: besides a 50 % reduction in its turnover, the divestment would result in (i) the Group's withdrawal from a large number of markets (in particular the construction and maintenance of nuclear reactors, and the production of fuel assemblies), and (ii) lost synergies linked to the lack of opportunities for cost pooling (such as in the commercial field, fuel assemblies, and research and development and engineering).
Ona će imati znatan negativan utjecaj na konkurentnost restrukturirane grupe Areva: osim 50-postotnog smanjenja njezina prometa, ta će operacija dovesti do i. njezina povlačenja s brojnih tržišta (osobito tržišta izgradnje i održavanja nuklearnih reaktora te proizvodnje gorivnih sklopova i ii. gubitka sinergija, osobito zbog nestanka izvora podjele troškova (na primjer, u području trgovine, gorivnih sklopova, istraživanja i razvoja te inženjeringa);
A ban on acquiring stakes did not constitute an appropriate compensatory measure.
zabrana stjecanja udjela ne čini prilagođenu mjeru naknade.
Areva believed that it needed to be able to undertake […] in the future, or to enter into partnerships.
Areva smatra da je potrebno omogućiti joj da ostvari […] tijekom budućeg razdoblja ili da uspostavi partnerstva.
The Areva Group also stressed the strategic importance of the restructuring aid for the nuclear industry and the economy in Europe: it was a direct job provider, a key player in maintaining the nuclear sector, involved in numerous segments of the nuclear value chain, and a crucial contributor to the smooth functioning of Europe's nuclear power fleet.
Grupa Areva jednako tako ustraje na strateškoj važnosti potpore za restrukturiranje za europski nuklearni sektor i gospodarstvo: izravni pružatelj radnih mjesta, ključni akter u održavanju nuklearnog sektora uključen u brojne segmente lanca vrijednosti tog sektora, ključni akter za ispravno funkcioniranjeparka europskih nuklearnih elektrana.
The Areva Group also stressed that the restructuring plan was progressing well, with (i) the divestments of Canberra (finalised) and the Areva Group's share in Adwen (option exercised), and (ii) the approval by the bondholders of the partial transfer of assets from Areva SA to New Areva, and the simultaneous transfer of the bond debt to New Areva.
Konačno, grupa Areva ističe dobro napredovanje plana za restrukturiranje, koji obuhvaća i. prodaju Canberre (provedeno) i udjela grupe Areva u Adwenu (izvršena opcija) i ii. odobrenje vjerovnika koji su imatelji obveznica djelomičnog prijenosa imovine Areve SA prema Novoj Arevi, kao i istodobni prijenos duga iz obveznica na Novu Arevu.
Moreover, the approval of the Hinkley Point C project meant a favourable outlook for the plan.
Osim toga, odobrenje projekta Hinkley Point C nudi mogućnosti razvoja povoljne za pravilnu provedbu tog plana.
Urenco was born out of political cooperation between Germany, the Netherlands and the United Kingdom.
Društvo Urenco plod je političke suradnje između Savezne Republike Njemačke, Nizozemske i Ujedinjene Kraljevine.
Established in 1970, its main business is uranium enrichment, and it has plants in the three countries that set it up, as well as in the United States.
Društvo je osnovano 1970. i ponajprije djeluje u segmentu obogaćivanja uranija te posjeduje tvornice u svim trima zemljama te u Sjedinjenim Američkim Državama.
Urenco began by painting a broad picture of the nuclear fuel cycle value chain, and then went on to develop a three-pronged argument: first, the aid under scrutiny would significantly strengthen the Areva Group; second, the distortive effect would be felt particularly on the enrichment market to the detriment of Urenco and the other competitors in this segment; and consequently, the competitive measures proposed by the French authorities were insufficient and needed to go further.
Nakon što je predstavilo čitav lanac vrijednosti nuklearnog gorivnog ciklusa, društvo Urenco iznosi stajalište u trima točkama: kao prvo, potpora koja se ispituje znatno će ojačati grupu Areva; nadalje, narušavajući učinak ove mjere osobito će se osjetiti na tržištu obogaćivanja, na štetu društva Urenco i drugih konkurenata aktivnih u tom segmentu; prema tome, mjere tržišnog natjecanja koje su predložila francuska nadležna tijela nedostatne su te ih je potrebno pojačati.
On the first point, Urenco stated that the restructuring plan failed to include any capacity reduction measures in any of the Areva Group's business lines, despite its financial difficulties and the overcapacity in its markets.
U pogledu prve točke Urenco tvrdi da planom za restrukturiranje nije obuhvaćeno smanjenje kapaciteta u okviru bilo koje djelatnosti grupe Areva unatoč njezinim financijskim poteškoćama i prekapacitiranosti koja obilježava tržišta na kojima grupa posluje.
New Areva would retain the same assets in the nuclear fuel cycle as in the past, and would thus be ideally placed to maintain a strong position in these markets.
Dakle, Nova Areva i dalje će raspolagati istom imovinom kao i prije za nuklearni gorivni ciklus, što je stavlja u idealan položaj za održavanje snažnog položaja na tim tržištima.
This was all the more evident in that the State intervention helped to repair the balance sheets of the newly established entities and wipe the slate clean of historic poor management.
To je tim očitije jer se intervencijom države pridonosi stabilizaciji bilanci novo uspostavljenih subjekata i briše prethodno loše upravljanje.
New Areva NP and New Areva were thus restored to a position where they had the freedom to make new investments, access financing and leverage bargaining power.
Na taj način Nova Areva NP i Nova Areva ponovno će imati slobodu u djelovanju, u smislu novih ulaganja, za ostvarenje pristupa financiranju i snažan pregovarački položaj.
New Areva's competitors, by contrast, had to bear the full costs of their past investments and could count on their profits alone for future development.
S druge strane, konkurenti Nove Areve moraju u potpunosti snositi troškove svojih prošlih ulaganja i mogu računati isključivo na svoju dobit ako se žele razvijati.
On the second point, Urenco took the view that the distortions of competition would be felt over the long term in the enrichment segment, which was characterised by overcapacity and a limited number of highly capital-intensive projects.
U pogledu druge točke Urenco smatra da će se narušavanje tržišnog natjecanja dugoročno osjetiti u segmentu obogaćivanja, koji je obilježen prekomjernim kapacitetima i ograničenim brojem skupih projekata.
According to Urenco, worldwide enrichment capacity was significantly higher than demand […].
Prema tvrdnjama društva Urenco svjetski kapaciteti obogaćivanja znatno su veći od potražnje […].
This overcapacity was all the more detrimental because part of the growth in demand came from countries such as China and Russia, which were largely closed to Western companies.
Ta je prekapacitiranost tim štetnija jer se dio rasta potražnje nalazi u zemljama kao što su Kina ili Rusija, koje su uvelike zatvorene za zapadne aktere.
As for the demand that could be accessed by Western companies, EDF's electro-nuclear fleet represented a major share, and it was therefore vital that the closer ties between EDF and the Areva Group did not restrict Urenco's access to EDF.
U pogledu potražnje dostupne zapadnim akterima, park nuklearnih elektrana EDF-a čini njezin znatan dio, zbog čega je ključno da ojačane veze između EDF-a i grupe Areva ne ograniče pristup društva Urenco EDF-u.
The aid under scrutiny also helped the Areva Group to remain active in MOX fuel, even though this fuel was less competitive than enriched natural uranium.
Osim toga, mjera koja se ispituje omogućuje grupi Areva da zadrži djelatnost povezanu s gorivom MOX, iako to gorivo nije jeo konkurentno kao prirodni obogaćeni uranij.
Without the State aid, this business would have been closed or scaled down, freeing up the markets for the Areva Group's competitors (in particular for supplying EDF, [0-25] % of whose demand could be met with MOX fuel).
Bez državne potpore ta bi djelatnost nestala ili izgubila na važnosti, čime bi se oslobodilo tržište za konkurente grupe Areva (osobito u pogledu opskrbe EDF-a, čijih se [0 – 25] % potražnje može zadovoljiti gorivom MOX).
New Areva's repaired balance sheet would also free it up to develop trading in enrichment services (‘separative work units — SWUs’), an activity that required significant financial room for manoeuvre.
Ojačana bilanca Nove Areve tom će društvu omogućiti i da se razvije u području trgovanja uslugama obogaćivanja (u daljnjem tekstu: SWU-ovi), djelatnosti koja zahtijeva znatan manevarski prostor u smislu financiranja.
This market […] could help to place New Areva in a stronger position than its non-subsidised competitors, whose financial structure, reflecting the highly capital-intensive projects in the sector, did not allow them to take this kind of risk.
To tržište […] može pridonijeti jačanju Nove Areve u odnosu na konkurente koji nisu primili potporu čija financijska struktura, koja je odraz izrazito skupih projekata u sektoru, ne dopušta poduzimanje takvih rizika.
Lastly, Urenco argued that New Areva would continue to benefit from the advantages of vertical integration in the fuel cycle markets.
Konačno, Urenco smatra da će Nova Areva i dalje ostvarivati koristi od okomite integracije na tržištima gorivnog ciklusa.
On the third point, Urenco stressed that the competitive measures should be offered in the markets in which the Areva Group would operate after the restructuring, all the more so since most of these markets (mining, conversion and enrichment) currently faced overcapacity.
U pogledu treće točke Urenco ističe da je potrebno predložiti mjere tržišnog natjecanja na tržištima na kojima će grupa Areva djelovati nakon restrukturiranja, osobito jer većina tih tržišta (tržište ruda, pretvaranja i obogaćivanja) trenutačno pati od prekapacitiranosti.
Urenco did not share the view of the French authorities that withdrawing from the reactors business would give rise to lost synergies on such a scale that the fuel operations would be affected.
Urenco ne dijeli mišljenje francuskih nadležnih tijela da razdvajanje djelatnosti povezane s reaktorima dovodi do takvog gubitka sinergija da bi to utjecalo na djelatnost povezanu s gorivima.
The fact that there were numerous non-integrated but successful players (such as Urenco, Cameco and KAP) demonstrated that the importance of these synergies was relative.
Postojanje brojnih neintegriranih aktera koji postižu rezultate (kao što su Urenco, Cameco, KAP) jednako tako dovodi u pitanje važnost takvih sinergija.
Moreover, they concerned only the supply of fuel to new reactors; […].
Osim toga, te se sinergije pojavljuju samo u pogledu isporuke goriva u nove reaktore; […].
In any event, the strategic partnership between EDF and New Areva would recreate any synergies lost.
Nadalje, strateškim partnerstvom EDF-a i Nove Areve ponovno će se uspostaviti moguće izgubljene sinergije.
New Areva would keep a strategic stake in the joint subsidiary with EDF, which would involve a certain degree of coordination between the two groups and could be an incentive for EDF to favour New Areva.
Nova Areva zadržat će strateški udio u zajedničkom društvu kćeri s EDF-om, što će zahtijevati određenu razinu koordinacije između dviju grupa i što može potaknuti EDF da daje prednost Novoj Arevi.
In addition, they would have the same shareholder: the French State.
Osim toga, te će grupa imati istog dioničara, francusku državu.
And closer cooperation was on the cards, as the Commission noted in its opening decision.
Nadalje, sprema se ojačana suradnja, kako je to primijetila Komisija u odluci o pokretanju postupka.
Lastly, the disadvantages of the split would be felt primarily by New Areva NP, which would have to form new sales teams for the sale of fuel assemblies, while New Areva would keep the benefits of integration on the fuel cycle side.
Konačno, nedostatke povezane s dezintegracijom ponajprije će podnijeti Nova Areva NP, koja će biti obvezna stvoriti nove trgovačke timove za prodaju gorivnih sklopova, dok će Nova Areva zadržati prednosti integracije u pogledu nuklearnog gorivnog ciklusa.
Accordingly, Urenco proposed the following pro-competition measures:
U svjetlu prethodno navedenoga Urenco predlaže sljedeće mjere potpore tržišnom natjecanju:
that EDF undertake to keep supply open to all fuel cycle operators;
EDF se mora obvezati da će zadržati politiku otvorene nabave za sve aktere u nuklearnom gorivnom ciklusu;
that the State aid should not disproportionately improve the position of New Areva's subsidiary operating in enrichment, without ensuring that the subsidiary was kept separate from the recapitalisation (such as by ensuring that the debts associated with the construction of the Georges Besse II plant were repaid only by cash flow from that activity);
državna potpora ne smije nerazmjerno poboljšati situaciju društva kćeri Nove Areve aktivnog u segmentu obogaćivanja na način da se zajamči određena nepropusnost između dokapitalizacije i tog društva kćeri (na primjer, tako da se osigura da dugove povezane s izgradnjom tvornice Georges Besse II snosi samo novčani tok te djelatnosti);
that New Areva be prohibited from increasing the capacity of the Georges Besse II plant at least during the restructuring period, without undermining the obligations of the Areva Group […] in relation to […] [18];
Novoj Arevi potrebno je zabraniti da poveća kapacitet tvornice Georges Besse II barem tijekom razdoblja restrukturiranja, ali pritom se ne smiju ugroziti obveze grupe Areva […] u okviru […] [18];
that New Areva reduce its MOX capacity and refrain from using its recovered liquidity to develop SWU trading activities.
Nova Areva mora smanjiti kapacitet u području MOX-a i ne smije upotrebljavati ponovno uspostavljenu likvidnost za razvoj svojih djelatnosti trgovanja SWU-ovima.
Urenco also wanted the French authorities to explore other pro-competition measures to be spread across all the segments, such as the sale of an activity to a new entrant, in order to reduce the synergies derived from New Areva's integration on the fuel cycle side.
Urenco jednako tako želi da francuska nadležna tijela istraže druge mjere potpore tržišnom natjecanju zajedničke svim segmentima kao što je prodaja djelatnosti novom sudioniku, a u svrhu smanjenja sinergija povezanih s integracijom Nove Areve u gorivni ciklus.
Lastly, Urenco stressed the importance of compliance with the ban on acquiring any undertaking during the restructuring period, unless it could be shown that such an acquisition was indispensable to the Areva Group's return to viability.
Konačno, Urenco ustraje na važnosti poštovanja zabrane stjecanja bilo kakvog poduzetnika tijekom razdoblja restrukturiranja, osim ako se pokaže da je takvo stjecanje neophodno za ponovnu uspostavu održivosti grupe Areva.
TVO is a Finnish electricity generator established in 1969 and owned by other Finnish electricity undertakings and by industrial companies.
TVO je finsko trgovačko društvo za proizvodnju električne energije osnovano 1969., koje posjeduju druga finska poduzeća za električnu energiju te industrijska poduzeća.
TVO is the future owner of OL3, a nuclear power plant using European Pressurised Reactor (‘EPR’) technology, that is still under construction.
TVO je budući vlasnik nuklearne elektrane OL3, koja se temelji na tehnologiji europskog reaktora s tlakovodnim hlađenjem (u daljnjem tekstu: EPR), koji je trenutačno u fazi izgradnje.
TVO stressed the importance of the OL3 reactor for the energy sector in Finland and in Europe.
TVO ističe važnost reaktora OL3 za finski i europski energetski sektor.
Once it had been commissioned, OL3 would contribute 9 % of total electricity generation in Finland by 2020, and meet 14 % of total electricity demand, thereby helping Finland to increase its energy independence.
Nakon što bude pušten u rad, OL3 trebao bi pridonijeti u udjelu od 9 % u ukupnoj proizvodnji električne energije u Finskoj do 2020. i odgovoriti na 14 % ukupne potražnje za električnom energijom, čime bi se povećala energetska neovisnost Finske.
In addition, OL3 was a pioneering project, which should pave the way for a ‘resurgence’ of the nuclear industry.
Jednako tako, OL3 jest pionirski projekt koji bi trebao otvoriti razdoblje preporoda nuklearne industrije.
The OL3 project was in its final stage of completion.
Projekt OL3 nalazi se o završnoj fazi provedbe.
External construction was almost complete, but some construction and fitting work was still ongoing inside the plant, particularly with respect to the nuclear island (reactor).
Vanjska je izgradnja gotovo završena, no određeni radovi izgradnje i instalacije i dalje su u tijeku unutar elektrane, osobito na nuklearnom otoku (reaktoru).
Some 2400 people were working on the site.
Na lokaciji radi približno 2400 radnika.
TVO stressed that the OL3 project was now entering the crucial commissioning phase, which would ultimately take it to the provisional delivery date.
TVO ističe da se projekt OL3 trenutačno nalazi u ključnoj fazi puštanja u rad, koja će po završetku dovesti do predviđenog datuma isporuke.
This phase required the ongoing support of the Consortium, which had the EPR knowledge and expertise.
Ova faza zahtijeva stalnu potporu Konzorcija koji posjeduje znanje i stručnost u području EPR-a.
TVO also referred to the arbitration dispute between itself and the Consortium.
TVO jednako tako spominje arbitražni spor koji vodi protiv Konzorcija.
TVO went on to explain its understanding of the Areva Group's restructuring plan, now based on ‘plan B’, i.e. transferring New Areva NP to EDF after ring-fencing the OL3 project and the resources needed to complete it, as well as leaving in this ‘legacy structure’ the components contracts and part of the Areva Group's debt.
Nadalje, TVO objašnjava svoje shvaćanje plana za restrukturiranje grupe Areva, koji se sada temelji na „planu B” i koji se sastoji od prijenosa Nove Areve NP EDF-u nakon izdvajanja projekta OL3 i sredstava potrebnih za njegov dovršetak, kao i ostavljanja u toj „strukturi za kupovinu loše imovine” ugovora o sastavnicama i dijela duga grupe Areva.