natgillin/translations-raw huggingface dataset:
(notified under document number C(2004) 4514)
(notificirano pod dokumentarno številko C(2004) 4514)
Having called on interested parties to submit their comments pursuant to the provisions cited above [1] and having regard to those comments,
po pozivu zainteresiranim strankam, naj predložijo svoje pripombe v skladu z navedenimi členi [1], in ob upoštevanju teh pripomb,
On 13 November 2002, the procedure laid down in Article 88(2) of the Treaty opened in respect of a EUR 450 million cash advance granted by France to Bull was closed by the Commission by Decision 2003/599/EC [2] — a positive decision conditional on the aid being repaid by 17 June 2003.
Dne 13. novembra 2002 je Komisija z Odločbo 2003/599/ES [2] zaključila postopek, določen v členu 88(2) Pogodbe, v zvezi z gotovinskim predujmom v višini 450 milijonov EUR, ki ga je Francija odobrila družbi Bull, to je s pozitivno odločbo, pogojeno s tem, da se pomoč povrne najpozneje do 17. junija 2003.
On 26 November 2003, the Commission brought an action before the Court of Justice of the European Communities for France's failure to comply with the decision [3].
Dne 26. novembra 2003 se je Komisija pritožila na Sodišče Evropskih skupnosti, ker Francija ni upoštevala zgoraj navedene odločbe [3].
At the end of 2003 and beginning of 2004, a number of meetings took place in the course of which the French authorities and Bull explained the content of Bull's restructuring plan, and in particular its third stage, that of recapitalisation.
Konec leta 2003 in v začetku leta 2004 je potekalo več sestankov, na katerih so francoske oblasti in družba Bull pojasnili vsebino načrta prestrukturiranja družbe Bull in zlasti njegovo tretjo fazo, to je dokapitalizacijo.
France notified the aid proposal to which the present Decision relates by letter dated 20 February 2004.
Francija je projekt pomoči, ki je predmet te odločbe, priglasila z dopisom z dne 20. februarja 2004.
By letter dated 16 March 2004, the Commission informed France of its decision to open the procedure laid down in Article 88(2) of the Treaty in respect of the said proposal.
Z dopisom z dne 16. marca 2004 je Komisija obvestila Francijo o svoji odločitvi, da v zvezi s to pomočjo uvede postopek, določen v členu 88(2) Pogodbe.
The Commission Decision to open the procedure was published in the Official Journal of the European Union [4].
Odločitev Komisije o uvedbi postopka je bila objavljena v Uradnem listu Evropske unije [4].
The Commission called on interested parties to submit their comments on the aid in question.
Komisija je pozvala zainteresirane stranke, da predložijo svoje pripombe v zvezi z zadevno pomočjo.
The Commission received comments from representatives of Bull's employees. A meeting between a delegation of those representatives and the Commission took place on 8 June 2004, following which the representatives provided the Commission with additional information.
Komisija je v zvezi s tem prejela pripombe predstavnikov zaposlenih v družbi Bull. Dne 8. junija 2004 je potekal sestanek med delegacijo teh predstavnikov in Komisijo, ob koncu katerega so predstavniki zaposlenih dali Komisiji dodatne informacije.
The Commission forwarded the information to France for its comments, and at the same time asked a number of questions about several aspects of the case.
Komisija jih je poslala Franciji, da ta izrazi svoje pripombe, in ji hkrati zastavila vprašanja o več vidikih primera.
It received France's comments and replies by letters dated 28 May and 29 July 2004.
Pripombe in odgovore Francije je prejela z dopisoma z dne 28. maja 2004 in 29. julija 2004.
A meeting between the Commission, the French authorities and Bull took place on 10 September 2004.
Sestanek med Komisijo, francoskimi oblastmi in družbo Bull je bil 10. septembra 2004.
The aid recipient
Upravičenec
Bull is an international information technology (IT) group based in Europe doing business in over 100 countries [5].
Bull je mednarodna informacijska skupina s sedežem v Evropi, ki posluje v več kot 100 državah [5].
It is active mainly in two areas:
Skupina Bull je dejavna zlasti na dveh področjih:
high-end professional computer servers: Bull designs and markets a range of large servers for professional use and provides maintenance services directly linked to those servers.
Visoko zmogljivi profesionalni informacijski strežniki: Bull razvija in trži vrsto velikih strežnikov za profesionalno uporabo ter opravlja storitve vzdrževanja, neposredno povezane s strežniki.
Bull's market share in the Community as constituted on 30 April 2004 (hereinafter called the Community of Fifteen) came to approximately 3 % (approximately 5 % in the case of medium and high-end servers).
Tržni delež skupine Bull na ravni Skupnosti v njeni sestavi z dne 30. aprila 2004 (v nadaljevanju: „Skupnost petnajsterice“) znaša okoli 3 % (okoli 5 % za srednje in visoko zmogljive strežnike).
Its main competitors in this field are IBM (34,3 % market share), Hewlett Packard (HP), which took over Compaq in 2001 (29,4 %), Sun (12,6 %) and Fujitsu/Siemens (8,9 %),
Njeni glavni konkurenti na tem področju so IBM (34,3 % tržnega deleža), Hewlett Packard (HP), ki je leta 2001 prevzel Compaq (29,4 %), Sun (12,6 %) in Fujitsu/Siemens (8,9 %).
specialised IT engineering services: Bull develops and integrates different applications, builds software architectures, etc. Following the sale of its Integris division to Steria, Bull's activities in this market sector have been centred particularly on France and Italy.
Specializirane storitve v informacijskem inženiringu: Bull razvija in integrira različne aplikacije, izdeluje programsko arhitekturo itd. Potem ko je skupina Bull prodala svoj oddelek Integris podjetju Steria, se je njena dejavnost na tem trgu osredotočila zlasti na Francijo in Italijo.
Bull's main competitors here are IBM and HP.
Glavna konkurenta skupine Bull na tem področju sta IBM in HP.
Bull's market share in the Community of Fifteen comes to less than 1 %.
Tržni delež skupine Bull na ravni Skupnosti petnajsterice je manjši od 1 %.
In 2003, Bull's turnover amounted to EUR 1265 million, broken down as follows: products 46 %, associated maintenance 27 % and services 27 %.
Leta 2003 je promet skupine Bull znašal 1265 milijonov EUR z naslednjo razdelitvijo: izdelki 46 %, povezano vzdrževanje 27 % in storitve 27 %.
Bull is a limited company incorporated under French law.
Bull je delniška družba, ustanovljena v skladu s francoskim pravom.
Its shareholders, after the July 2004 recapitalisation and the exercise of share warrants by existing bondholders, are France Télécom and NEC, each with 10,1 %, Axa Private Equity and Artemis with 8,6 %, Bull's senior management with 5,1 %, Motorola with 3,0 % and Debeka with 2,9 %.
Po dokapitalizaciji julija 2004 in uveljavitvi pravice do nakupa delnic s strani predhodnih lastnikov obveznic so njeni delničarji France Télécom in NEC, vsak z 10,1 %, Axa Private Equity in Artemis z 8,6 %, vodilni kadri skupine Bull s 5,1 %, Motorola s 3,0 % in Debeka z 2,9 %.
The French State now holds only 2,9 %, the remaining 57,3 % being accounted for by floating shareholders.
Francoska država ima v lasti samo 2,9 %, medtem ko so lastniki preostalih 57,3 % menjajoči se delničarji.
Starting in 1994, to resolve the difficulties encountered in the early 1990s Bull introduced the measures provided for under an earlier restructuring plan in accordance with the commitments given by France of which the Commission took note in its Decision 94/1073/EC of 12 October 1994 concerning the grant of State aid by France to the Bull group in the form of a non-notified capital increase [6].
Da bi Bull rešil težave, v katerih se je znašel v začetku devetdesetih, je leta 1994 uvedel ukrepe, ki jih je predvideval predhodni načrt prestrukturiranja, v skladu z obveznostmi, ki jih je prevzela Francija in ki jih je Komisija zapisala v svoji Odločbi 94/1073/ES z dne 12. oktobra 1994 o državni pomoči Francije skupini Bull v obliki nepriglašenega povečanja kapitala [6].
In particular, Zenith Data Systems was sold off and the OSS (open systems and software) division was closed down.
Ti ukrepi so bili zlasti odstop Zenith Data Systems in zaprtje oddelka OSS („open systems and software“).
France privatised Bull by opening up its capital.
Poleg tega je Francija začela privatizacijo skupine Bull z odprtjem njenega kapitala.
In 1999, Bull again had to dispose of assets and announce redundancies.
Leta 1999 je bila skupina Bull znova prisiljena prodati sredstva in odpustiti osebje.
In 2000, a plan resulted in a strategic refocusing of the company, the sale of non-strategic assets and a reduction in costs.
Leta 2000 je načrt privedel do nove strateške osredotočenosti, prodaje nestrateških sredstev in znižanja stroškov.
At the end of 2001, Bull employed only 9500 people throughout Europe, compared with 11500 in 1999.
Konec leta 2001 je Bull zaposloval samo še okoli 9500 oseb v vsej Evropi v primerjavi z 11500 osebami leta 1999.
Bull's difficulties prior to the restructuring plan to which this Decision relates
Težave skupine Bull pred načrtom prestrukturiranja, ki ga obravnava ta odločba
In spite of the measures referred to in paragraph 8, in 2001 the strategic plan failed.
Kljub ukrepom, navedenim v uvodni izjavi 8, je načrt leta 2001 spodletel.
First of all, the crisis in the technology stock market prevented Bull from selling its heavily loss-making Integris division to an outside buyer.
Na eni strani je borzna kriza tehnoloških vrednosti skupini Bull preprečila, da bi svoj oddelek Integris, ki je ustvarjal velike izgube, prodala tretjim osebam.
Secondly, the crisis in the Internet sector hit Internet-based technology businesses hard.
Na drugi stani je kriza internetnega sektorja hudo prizadela dejavnosti tehnologij, povezanih z internetom.
The collapse of the telecommunications market, the bursting of the Internet bubble, greatly reduced corporate margins and international tensions resulted in a contraction in demand.
Sesutje telekomunikacijskega trga in razpočenje internetnega mehurčka, močno zmanjšanje marž podjetij in napetosti v mednarodnih odnosih so zmanjšali povpraševanje.
Corporate expenditure on computers fell sharply in 2002 (– 25 % in the case of medium and high-end servers).
Izdatki podjetij za računalnike so se leta 2002 močno znižali (–25 % za srednje in visoko zmogljive strežnike).
The services market suffered a drastic fall compared with the earlier rise owing to the Year 2000 problem and the changeover to the euro.
Na trgu storitev je prišlo do drastičnega upada v primerjavi s predhodno rastjo zaradi težave s prestopom na leto 2000 in prehodom na euro.
The worsening economic situation after the events of 11 September 2001 weakened Bull's situation still further.
Poslabšanje gospodarskega položaja po dogodkih 11. septembra 2001 je še dodatno otežilo položaj skupine Bull.
For a number of years, Bull had invested heavily in Internet technologies, focusing its commercial activities on the concepts of ‘e-services’ and ‘net-infrastructure’.
Skupina Bull je več let veliko vlagala v internetne tehnologije, pri čemer je svojo tržno ponudbo osredotočila na koncepta „e-storitev“ in „spletne infrastrukture“.
The crisis in the Internet sector revealed that Bull had made, in this respect, poor technological choices and had concentrated on markets in which it was unsuccessful.
Kriza internetnega sektorja je pokazala, da je skupina Bull v tem pogledu sprejela slabe tehnološke odločitve in se osredotočila na trge, na katerih ni bila uspešna.
Moreover, Bull showed a marked lack of consistency between, on the one hand, its ambitions in terms of markets targeted and products offered for sale and, on the other, the technological development investment and commercial and administrative expenditure undertaken.
Poleg tega se je pri skupini Bull pokazalo precejšnje pomanjkanje skladnosti med njenimi ambicijami v smislu ciljnih trgov in ponudbe izdelkov na eni strani ter naložbami v tehnološki razvoj in ustvarjenimi nakupno-prodajnimi in posrednimi izdatki na drugi strani.
In addition, the group felt the backlash from the very high charges linked with its employees’ pension schemes in the United States.
Poleg tega je skupina doživela protiudarec zelo visokih stroškov, povezanih s pokojninskimi sistemi svojih zaposlenih v Združenih državah.
In accordance with American standards, the assets of the consolidated balance sheet included the cost of pensions due, which represented the excess value of the pension fund assets (current market value) over the discounted liability of the projected pension rights.
V skladu z ameriškimi predpisi je aktiva konsolidirane bilance stanja vključevala strošek pokojnin za plačilo, ki je pomenil presežek vrednosti sredstev pokojninskega sklada (trenutna tržna vrednost) glede na diskontirano obveznost načrtovanih pokojninskih pravic.
In 2002, Bull decided to transfer all of its pension obligations to insurance companies.
Leta 2002 je Bull sprejel odločitev, da vse svoje obveznosti v zvezi s pokojninami prenese na zavarovalnice.
In combination with falling stock values, this decision resulted in a financial loss of EUR 87 million for the whole of the years 2002 and 2003.
V povezavi s padcem borznih vrednosti je ta odločitev povzročila finančno izgubo 87 milijonov EUR v letih 2002 in 2003.
The uncertainty surrounding the company's financial health led to a degree of reticence on the part of customers to carry out large projects, given that they were no longer sure that the company could fulfil its obligations in the years ahead.
Negotovost glede finančne sposobnosti podjetja je pripeljala do določene zadržanosti strank glede izvajanja velikih projektov, saj niso bile več prepričane, da bo podjetje v prihodnjih letih zmoglo izpolnjevati svoje obveznosti.
Suppliers imposed stricter payment terms at a time when Bull's access to bank guarantees had almost dried up.
Dobavitelji so uvedli strožje plačilne pogoje, medtem ko skupina Bull skoraj ni imela več dostopa do bančnih jamstev.
Restructuring plan
Načrt prestrukturiranja
On 2 December 2001, a new chairman was appointed at the head of Bull. His restructuring plan, which was adopted by the board of directors in March 2002, involves a massive reduction in overheads and staff together with a refocusing on the company's strengths through substantial industrial asset sales.
Dne 2. decembra 2001 je bil na čelo skupine Bull imenovan nov predsednik. Njegov načrt prestrukturiranja, ki ga je upravni svet sprejel marca 2002, vključuje obsežno zmanjšanje splošnih stroškov in zaposlenih ter preusmeritev na močne točke podjetja z obsežno prodajo industrijskih sredstev.
The growth strategy is based on three main elements:
Strategija razvoja temelji na treh glavnih oseh:
upgrading of the range of large business servers while at the same time guaranteeing the continuity of solutions used by customers, coupled with competitive technological development,
uveljaviti park velikih podjetniških strežnikov z zagotovitvijo ohranitve rešitev, ki jih uporabljajo stranke, ob hkratnem prispevku k njihovemu konkurenčnemu tehnološkemu razvoju,
a positioning as European leader in Intel 64-bit architecture-based solutions and open source software in target markets,
izbojevati si mesto vodilnega evropskega podjetja za rešitve na podlagi 64-bitne arhitekture Intel in „odprtokodne“ programske opreme na ciljnih trgih,
continued development of service activities in those areas where Bull stands apart, in particular the provision of complete solutions (hardware + middleware + applications) to priority sectors such as the public sector (tax and customs authorities, social services, e-government), defence and security, and telecommunications operators [7].
nadaljevati razvoj storitvenih dejavnosti na področjih, kjer skupina Bull izstopa, zlasti z zagotavljanjem celovitih rešitev (strojna oprema + vmesna oprema + aplikacije) prednostnim sektorjem, kot so javni sektor (davki in carine, socialni sistemi, e-uprava), obramba in varnost ter telekomunikacijski operaterji [7].
The main strands of the financial component are as follows:
Vodilna načela finančnega dela so naslednja:
The terms of the offer to exchange their bonds are either, in the first alternative, 20 new shares per bond or, in the second alternative, 16 shares plus 16 stock options exercisable by 15 December 2004.
Pogoji ponudbe za zamenjavo njihovih obveznic so bodisi v prvi alternativi 20 novih delnic za eno obveznico bodisi v drugi alternativi 16 delnic in 16 opcij na delnice, katerih zadnji rok za izvedbo je 15. december 2004.
Inasmuch as the vast majority have chosen the second alternative and supposing they systematically exercise their stock options, convertible bond holders will thus contribute EUR 17,2 million,
Ker je velika večina izbrala drugo ponudbo in če domnevamo, da bodo imetniki zamenljivih obveznic dosledno uveljavljali svoje opcije na delnice, bodo ti tako prinesli 17,2 milijona EUR,
a capital increase launched on the market and guaranteed to the tune of EUR 33 million by a group of investors: NEC and France Télécom (Bull's historical shareholders) for EUR 7,5 million each, Debeka (a German insurance company and one of Bull's major customers) for EUR 3 million, the investment funds Axa Private Equity and Artemis for EUR 7 million and EUR 2 million respectively and, lastly, 350 senior managers of the Bull group for EUR 6 million. In reality, the public has contributed EUR 13,8 million. Consequently, investors’ contributions amount to only some 90 % of the amounts guaranteed.
povečanje kapitala, razpisano na trgu, pri čemer 33 milijonov EUR zagotavlja skupina vlagateljev: NEC in France Télécom (stara delničarja skupine Bull) vsak po 7,5 milijona EUR, Debeka (nemška zavarovalnica in pomembna stranka skupine Bull) 3 milijone EUR, investicijska sklada Axa Private Equity in Artemis 7 milijonov EUR in 2 milijona EUR ter nazadnje 350 vodilnih kadrov skupine Bull 6 milijonov EUR. V resnici je javnost prispevala 13,8 milijona EUR. Zato prispevki vlagateljev dosegajo samo okoli 90 % zajamčenih zneskov.
The total increase comes to EUR 44,2 million,
Skupno povečanje znaša 44,2 milijona EUR,
the aid described in section 4, which consists of a EUR 517 million payment coupled with a better fortunes clause.
pomoč, opisana v razdelku 4, ki vključuje izplačilo 517 milijonov EUR in jo spremlja klavzula o vračanju v boljše čase.
Once all these measures have been implemented, the Bull group's equity capital should amount to EUR 59,2 million. The financial projections associated with the plan are given in the table below.
Po uresničitvi vseh teh ukrepov bi moral lasten kapital skupine Bull znašati 59,2 milijona EUR. Finančne napovedi, povezane z načrtom, so prikazane v tabeli 1.
Net result
Čisti rezultat
Description of the aid
Opis pomoči
The notified aid will take the form of a EUR 517 million payment by the French State, to be made on 31 December 2004 at the earliest.
Priglašeno pomoč v višini 517 milijonov EUR bo izplačala francoska država ne prej kot 31. decembra 2004.
This amount is equivalent to the rescue aid authorised by Decision 2003/599/EC, including interest since its payment in December 2001 and June 2002.
Ta znesek je enakovreden pomoči za reševanje, ki je bila odobrena z Odločbo 2003/599/ES, vključno z obrestmi, ki tečejo od njenega izplačila decembra 2001 in junija 2002.
The new aid will not actually be paid until after Bull has reimbursed the rescue aid.
Nova pomoč bo dejansko izplačana šele potem, ko bo skupina Bull vrnila to pomoč za reševanje.
In exchange, the French State is imposing a better fortunes clause in the form of payment to the State by Bull of 23,5 % of its annual consolidated current result before tax for a period of eight years starting from the financial year ending 31 December 2005.
V zameno francoska država uvaja klavzulo o vračanju v boljše čase, s katero družba Bull izplača državi 23,5 % svojega konsolidiranega tekočega rezultata pred obdavčenjem v obdobju osmih let od finančnega leta, zaključenega 31. decembra 2005.
According to the French authorities, the clause represents a present value of between EUR 50 million and EUR 60 million. The maximum amount of aid therefore comes to EUR 467 million, or approximately 90 % of the existing debt.
Kot navajajo francoske oblasti, ta klavzula pomeni sedanjo vrednost med 50 in 60 milijoni EUR. Najvišja mogoča pomoč torej znaša 467 milijonov EUR ali približno 90 % trenutnega dolga.
In this way, the French authorities are seeking to ensure a treatment similar to that of convertible bond holders, who are likewise foregoing approximately 90 % of their claims.
Tako si francoske oblasti prizadevajo zagotoviti podobno obravnavo kot imetniki zamenljivih delnic, ki se prav tako odpovedujejo približno 90 % svojih terjatev.
GROUNDS FOR OPENING THE PROCEDURE LAID DOWN IN ARTICLE 88(2) OF THE TREATY
RAZLOGI ZA UVEDBO POSTOPKA, DOLOČENEGA V ČLENU 88(2) POGODBE
The decision to open the procedure laid down in Article 88(2) of the Treaty includes a preliminary assessment of the aid measure in the light of the Community guidelines on State aid for rescuing and restructuring firms in difficulty [10] (hereinafter called the guidelines).
Odločitev za uvedbo postopka, določenega v členu 88(2) Pogodbe, vključuje predhodno oceno ukrepa pomoči, zlasti z vidika smernic Skupnosti o državni pomoči za reševanje in prestrukturiranje podjetij v težavah [10] (v nadaljevanju: „smernice“).
In its decision, the Commission doubted whether the plan guaranteed a return to viability.
V navedeni odločitvi je Komisija dvomila, da načrt jamči obnovitev sposobnosti za preživetje.
The latest financial figures pointed to a return to viability in the event of the balance sheet being restored, but the Commission considered that one year was too short a period in which to demonstrate a return to viability.
Zadnje finančne številke naj bi dokazovale obnovitev sposobnosti za preživetje, če bi bila bilanca stanja sanirana, vendar je Komisija menila, da je eno leto prekratko obdobje, da bi dokazali obnovitev sposobnosti za preživetje.
The forecasts for the relevant markets were not very detailed and they did not all agree, and it appeared that several of those markets would remain problematic, especially in the short term.
Napovedi za zadevne trge niso bile zelo podrobne, zdele so se neenake in videti je bilo, da bo več trgov ostalo težavnih, zlasti kratkoročno.
More importantly, the information provided by the French authorities did not make it possible to assess whether Bull would be capable of benefiting from a growth in the markets inasmuch as the group's remaining industrial activities relied heavily on the manufacture of systems where the competition was intense.
Natančneje, informacije, ki so jih dale francoske oblasti, niso omogočale ocene, ali bo skupina Bull sposobna izkoristiti morebitno rast trgov, saj so se preostale industrijske dejavnosti skupine močno zanašale na izdelavo sistemov, kjer je bila ostra konkurenca.
Furthermore, the recapitalisation plan did not involve any new partners beyond those already present, namely France Télécom and NEC.
Poleg tega načrt dokapitalizacije ni vključeval nobenega novega partnerja poleg že prisotnih akterjev, tj. France Télécom in NEC.
In view of the large amount of aid involved, the Commission also doubted whether undue distortions of competition were avoided, whether the aid was limited to the minimum needed and whether it avoided providing the company with surplus cash which could be used for aggressive, market-distorting activities not linked to the restructuring process.
Glede na visok znesek pomoči se je Komisija tudi bala, da ne bi prišlo do nedovoljenega izkrivljanja konkurence, da pomoč ne bi bila omejena na najmanjši potrebni znesek in da ne bi podjetju zagotovila presežnih likvidnih sredstev, ki bi jih lahko namenilo za agresivne dejavnosti, ki bi lahko povzročile izkrivljanje trga in ne bi bile povezane s procesom prestrukturiranja.
For instance, it was not clear what the solvency and liquidity ratios would be after the aid was paid and how they would compare with those of competitors in the relevant markets.
Na primer, ni bilo jasno, kakšna bodo razmerja solventnosti in likvidnosti po izplačilu pomoči in kakšna bi bila ta razmerja v primerjavi z razmerji konkurentov na zadevnih trgih.