natgillin/translations-raw huggingface dataset:
Furthermore, in 2008-09, the company Trèves had key strengths at its disposal to ensure its rapid return to profitability (establishment and growth in emerging countries, diversification of its portfolio of manufacturer customers, marked focus on research and development).
Sicer pa je imela družba Trèves v obdobju 2008–2009 v rokah vse potrebne adute za hitro povrnitev donosnosti (uveljavitev in rast v državah v vzponu, povečanje raznovrstnosti portfelja strank med proizvajalci, izrazita usmeritev v raziskave in razvoj).
Taking account of these strengths, Trèves’ industrial and financial restructuring plan was drawn up on the basis of prudent and reasonable forecasts after a detailed audit of the company’s situation.
Ob upoštevanju teh adutov je bil načrt finančnega in industrijskega prestrukturiranja družbe Trèves pripravljen na podlagi previdnih in razumnih napovedi, ki so temeljile na poglobljeni reviziji stanja podjetja.
Finally, the good results recorded by Trèves in 2009-10 demonstrate the prudent nature of the investment.
Ne nazadnje dobri rezultati družbe Trèves v obdobju 2009–2010 nakazujejo preudarnost naložbe.
Finally, the Trèves group considers that, if the FMEA investment were to come under Article 107(1) TFEU, this aid would be compatible with the guidelines, as the company’s long-term return to viability is ensured and the restructuring of Trèves does not give rise to any distortion of competition and is accompanied by compensatory measures already implemented in part ([…], reduction in production capacity, reduction in workforce and finally the share in funding the restructuring of Trèves allegedly of state origin remains confined to the strict minimum of the restructuring costs).
Skupina Trèves skratka meni, da tudi če bi naložba sklada FMEA spadala na področje uporabe člena 107(1) PDEU, bi bila ta pomoč združljiva s Smernicami, saj je zagotovljena ponovna vzpostavitev dolgoročne sposobnosti preživetja družbe, prestrukturiranje družbe Trèves pa ne povzroča nikakršnega izkrivljanja konkurence in vključuje izravnalne ukrepe, ki se deloma že izvajajo ([…], zmanjšanje proizvodnih zmogljivosti, zmanjšanje števila zaposlenih, nazadnje pa je del finančnih sredstev za prestrukturiranje družbe Trèves, ki naj bi izviral iz državnih sredstev, še naprej omejen na najnižji znesek stroškov prestrukturiranja).
As regards the tax and social security debt rescheduling plan, the Trèves group considers firstly that it respects the principles of the private creditor operating in a market economy and that the Commission cannot presuppose that any categorisation as aid adopted would in fact preclude the possibility of a prudent rescheduling plan on the part of the financial authorities.
Kar zadeva načrt odloga plačila davčnih obveznosti in socialnih prispevkov, skupina Trèves najprej meni, da so upoštevana načela zasebnega upnika v tržnem gospodarstvu. Meni še, da Komisija ne more predpostavljati, da bi bila zaradi morebitne opredelitve ukrepa kot pomoči dejansko izključena možnost, da bi finančni organi odobrili preudaren načrt odloga plačila.
The rescheduling plan provides for penalties and surcharges for late payment, an interest rate higher than the statutory rate which a private creditor could expect, first-ranking mortgages […] and the co-existence of the intervention by the public authorities with that of private creditors.
V načrtu odloga plačila so predvideni kazni in pribitki zaradi zamud, obrestna mera, ki je višja od zakonsko določene obrestne mere, ki jo lahko zahteva zasebni upnik, prvovrstne hipoteke […], javni organi pa so posredovali hkrati z zasebnimi vlagatelji.
The FMEA
Sklad FMEA
The FMEA forwarded its comments to the Commission by letter dated 22 June 2010.
Sklad FMEA je pripombe Komisiji poslal z dopisom z dne 22. junija 2010.
The FMEA rejects the categorisation of its investment in the company Trèves as State aid, on account of its autonomy firstly in the choice of its investments and secondly in the approach adopted to achieve its objectives.
Sklad se ne strinja s tem, da je njegova naložba v družbo Trèves opredeljena kot državna pomoč, in sicer najprej zaradi svoje neodvisnosti pri odločanju za naložbe in dalje zaradi pristopa, ki ga je uporabil za dosego svojih ciljev.
The FMEA emphasises the fact that its intervention decisions are entirely independent.
Kot poudarja, o svojih ukrepih odloča popolnoma samostojno.
This autonomy results not only from its status, but also from its governance.
Ta neodvisnost izhaja ne samo iz njegovega statusa, ampak tudi iz njegovega vodenja.
The FMEA, as a venture capital mutual fund, has a management company which in turn is subject to the rules of third-party asset management.
Kot skupnemu skladu tveganega kapitala mu je dodeljena družba za upravljanje, za katero prav tako veljajo pravila upravljanja sredstev za tretje osebe.
The statutory independence of the management company in the choice of its investments, as it acts in accordance with the proprietary interest of the subscribers, contributes to ensuring the autonomy of the FMEA at the investment decision stage.
Z zakonom predpisana neodvisnost družbe pri izbiri naložb, saj deluje v skladu s premoženjskimi interesi vlagateljev, prispeva k neodvisnosti sklada FMEA pri naložbenih odločitvah.
As regards the FMEA advisory committees, the opinions of the selection committee and the investment committee can be adopted only with the approval of one of the two manufacturers.
Mnenja posvetovalnih odborov sklada FMEA, izbirnega in naložbenega odbora, se lahko sprejmejo samo s soglasjem enega od obeh proizvajalcev.
The management company, CDC Entreprises, has so far never departed from the opinions given by the committees.
Družba za upravljanje, CDC Entreprises, se ni do zdaj še nikoli oddaljila od mnenj, ki sta jih izdala odbora.
Consequently, the influence of the private investors, i.e. Renault and Peugeot, is predominant in the selection and definition of the investment projects.
Vpliv zasebnih vlagateljev, to je družb Renault in Peugeot, je torej odločilnega pomena pri izbiri in opredelitvi naložbenih projektov.
Moreover, the FMEA investment in Trèves illustrates the FMEA investment policy, which gives preference to undertakings with strong innovative capacity and strong potential for growth and profitability in the automobile parts manufacturers sector.
Naložba sklada FMEA v družbo Trèves poleg tega odseva naložbeno politiko sklada FMEA, ki daje prednost podjetjem z veliko inovacijsko zmogljivostjo ter velikimi možnostmi za rast in donosnost v sektorju proizvajalcev avtomobilske opreme.
Trèves is a leading European parts manufacturer which for that matter was of interest to […] other private funds.
Družba Trèves je vodilni evropski proizvajalec opreme, za katerega so se zanimali tudi […] drugi zasebni skladi.
The distinct improvement in the company’s results from 2010 shows the reality and relevance of the restructuring plan presented by Trèves.
Neto izboljšanje rezultatov družbe v letu 2010 nakazuje uresničljivost in primernost načrta prestrukturiranja, ki ga je predložila družba Trèves.
The temporary difficulties experienced by the company on account of the economic and financial crisis also enabled the FMEA to negotiate an investment on terms providing a very high level of protection.
Prehodne težave, s katerimi se družba spopada zaradi gospodarske in finančne krize, so skladu FMEA prav tako omogočile izvedbo naložbe pod izrazito zaščitnimi pogoji.
The FMEA consequently considers that its investment cannot be categorised as State aid.
Sklad FMEA zato meni, da njegove naložbe ni mogoče opredeliti kot državno pomoč.
Renault forwarded its comments to the Commission by letter dated 6 July 2010.
Skupina Renault je pripombe Komisiji poslala z dopisom z dne 6. julija 2010.
The object of the loan granted to it in April 2009 was to finance the general needs of the undertaking arising from the contraction in the financial markets during the fourth quarter of 2008 and the first quarter of 2009.
Posojilo, ki ji je bilo dodeljeno leta 2009, je bilo namenjeno financiranju splošnih potreb podjetja zaradi krčenja finančnih trgov v četrtem četrtletju leta 2008 in prvem četrtletju leta 2009.
Furthermore, Renault’s subscription to the FMEA was justified for economic, industrial and financial reasons: it is in fact strategically and financially essential for Renault to consolidate its supply on a permanent basis by relying on sound, competitive suppliers, while at the same time expecting a return on its financial investment.
Poleg tega so vključitev skupine Renault v sklad FMEA upravičevali gospodarski, industrijski in finančni razlogi: za skupino Renault je namreč strateško in finančno nujno, da zagotovi trajnost svoje preskrbe, tako da se opre na zdrave in konkurenčne dobavitelje, hkrati pa računa na donosnost svoje finančne naložbe.
The FMEA in this way enables Renault to invest in undertakings which are absolutely essential for the sector, such as Trèves, which remains a key supplier for the European motor vehicle industry.
Družba Renault tako lahko prek sklada FMEA vlaga v podjetja, ki so za panogo nujna, kot je družba Trèves, ki ostaja pomemben dobavitelj evropske avtomobilske industrije.
Consequently, the FMEA interventions follow the same approach as that adopted by Renault, which is itself a prudent investor operating in a market economy.
Ukrepi sklada FMEA torej temeljijo na enakem pristopu, kot ga uporablja družba Renault, ki je prav tako preudaren vlagatelj v tržnem gospodarstvu.
Finally, Renault unreservedly endorses the FMEA’s comments, presented in response to the Commission’s decision to initiate the formal investigation procedure, on its role in the governance of the FMEA, how the FMEA operates, its autonomy and that of its management company in relation to the public authorities.
Skratka, družba Renault se brez pridržkov strinja s pripombami, ki jih je sklad FMEA predložil v odziv na odločitev Komisije o začetku formalnega postopka, in sicer glede svoje vloge pri upravljanju sklada FMEA, načina njegovega delovanja, njegove neodvisnosti in neodvisnosti njegove družbe za upravljanje od javnih organov.
PSA forwarded its comments to the Commission by letter dated 6 July 2010.
Skupina PSA je pripombe Komisiji poslala z dopisom z dne 6. julija 2010.
According to PSA, the FMEA investment in Trèves is not only profitable, but also in keeping with its economic and strategic interests.
Kot navaja, naložba sklada FMEA v družbo Trèves ni le donosna, ampak tudi v skladu z gospodarskimi in strateškimi interesi skupine.
PSA’s participation in the FMEA is part of the joint wish of the manufacturer and the Fund to invest in strategic undertakings with strong innovative capacity, capable of ensuring security of supply and optimum consolidation of the automobile parts manufacturers sector.
Delež skupine PSA v skladu FMEA je izraz skupne želje proizvajalca in sklada po vlaganju v strateška podjetja z veliko inovacijsko zmogljivostjo, ki bi lahko zagotovila zanesljivo preskrbo in kar najbolj utrdila sektor proizvajalcev avtomobilske opreme.
Furthermore, PSA considers that the FMEA investment meets its profitability requirements in the light of the risk assumed.
Skupina PSA še meni, da naložba sklada FMEA izpolnjuje njene zahteve po donosnosti glede na prevzeto tveganje.
Finally, PSA emphasises the lack of conditionality between its decision to participate in the FMEA and the conclusion of a loan agreement for EUR 3 billion between the French State and the manufacturer in March 2009.
Nazadnje skupina PSA poudarja, da njena odločitev za vključitev v sklad FMEA ni bila pogojena s sklenitvijo posojilne pogodbe v višini 3 milijard EUR med francosko državo in proizvajalcem marca 2009.
One of Trèves’ competitors
Konkurent družbe Trèves
By letter dated 23 June 2010, one of Trèves’ competitors, which wishes to remain anonymous, forwarded its comments to the Commission.
Konkurent družbe Trèves, ki želi ostati anonimen, je pripombe Komisiji poslal z dopisom z dne 23. junija 2010.
Moreover, irrespective of Trèves’ economic situation, the State aid from which it could benefit must be accompanied by substantial compensatory measures, on account of the very significant negative effects on competition.
Poleg tega morajo državne pomoči, ki bi jih družba Trèves morda prejela, ne glede na njen gospodarski položaj spremljati pomembni ukrepi za izravnavo zelo velikih negativnih učinkov na konkurenco.
In fact aid with the sole aim of maintaining an undertaking artificially in existence in a sector experiencing long-term structural overcapacity is unjustified.
Pomoč, katere edini namen je podjetje umetno ohranjati pri življenju v sektorju, ki se spopada z dolgoročno strukturno presežno zmogljivostjo, ni upravičena.
It considers that Trèves should be obliged to limit its presence on the markets by selling subsidiaries or by reducing its activities drastically and contributing more from its own resources to its restructuring.
Po mnenju konkurenta bi morala družba Trèves obvezno omejiti svojo prisotnost na trgih, in sicer s prodajo hčerinskih družb ali izrazitim zmanjšanjem svojih dejavnosti, za prestrukturiranje pa nameniti več lastnih sredstev.
The Italian Ministry of Economic Development forwarded its comments to the Commission by letter dated 15 June 2010.
Italijansko ministrstvo za gospodarski razvoj je pripombe Komisiji poslalo z dopisom z dne 15. junija 2010.
It endorses the Commission’s ‘arguments’ [14] on two fundamental points: the FMEA investment is undoubtedly State aid on account of the decisive presence of public funds and this type of aid is intended to support undertakings which, before the second quarter of 2008, were encountering difficulties within the meaning of the guidelines.
S „trditvami“ [14] Komisije se strinja v dveh ključnih točkah: naložba sklada FMEA je zaradi odločilne prisotnosti javnih sredstev nesporno državna pomoč, ta vrsta pomoči pa naj bi bila namenjena podjetjem, ki so se že pred drugim četrtletjem leta 2008 spopadala s težavami v smislu Smernic.
By letter dated 25 March 2010, the French authorities forwarded their comments to the Commission in response to the initiation of the formal investigation procedure on 29 January 2010.
Francoski organi so z dopisom z dne 25. marca 2010 Komisiji poslali pripombe po začetku formalnega postopka preiskave 29. januarja 2010.
In their opinion, the terms and conditions of the FMEA investment in Trèves do not fall within the scope of Article 107(1) TFEU, as the investment was not financed by state resources, but by funds of predominantly private origin and not imputable to the State.
Po njihovem mnenju pravila in pogoji naložbe sklada FMEA v družbo Trèves ne spadajo na področje uporabe člena 107(1) PDEU, ker naložba ni bila izvedena z državnimi sredstvi, temveč je bila izvedena s sredstvi, ki so bila večinoma zasebna in jih ni dodelila država.
Even if the FMEA resources were to be considered state resources or the investment decision were to be imputable to the State, the French authorities consider that this investment displays all the characteristics of a prudent investment in a market economy.
Tudi če bi se sredstva sklada FMEA štela za državna sredstva ali če bi odločitev za naložbo sprejela država, francoski organi menijo, da ima ta naložba vse značilnosti preudarne naložbe v tržnem gospodarstvu.
Furthermore, they also consider that the rescheduling of the tax and social security debt authorised by the public creditors meets the criteria of the private creditor seeking to recover the sums due to it.
Menijo še, da odlog plačila davčnih obveznosti in socialnih prispevkov, ki so ga odobrili javni upniki, izpolnjuje merila zasebnega upnika, ki si prizadeva izterjati dolgovane zneske.
The French authorities point out that the FMEA investment in no way involved the transfer of state resources within the meaning of the ‘Stardust Marine’ case-law [15].
Francoski organi navajajo, da naložba sklada FMEA nikakor ni vključevala prenosa državnih sredstev v smislu sodne prakse „Stardust marine“ [15].
Concerning the share of the manufacturers PSA and Renault (2/3), the FMEA funds are purely private; concerning the share of the FSI (1/3), these funds, although public in origin, are not under the permanent control of the State.
Sredstva sklada FMEA so, kar zadeva delež proizvajalcev PSA in Renault (2/3), popolnoma zasebna sredstva, kar zadeva delež sklada FSI (1/3), pa gre sicer za javna sredstva, ki niso pod stalnim nadzorom države.
The FSI, created according to the private investment fund model, is constituted in the form of a joint stock company (société anonyme) in competition with other private investment funds.
Sklad FSI, ki je bil ustanovljen po modelu zasebnih naložbenih skladov, ima obliko delniške družbe in konkurira drugim zasebnim naložbenim skladom.
It makes long-term investments with profitability as their objective.
Izvaja dolgoročne naložbe, katerih cilj je donosnost.
Furthermore, on account of its status and operating procedures, the FMEA management company, CDC Entreprises, is not under the surveillance of the public authorities.
Poleg tega družba za upravljanje sklada FMEA CDC Entreprises zaradi svojega statusa in načina delovanja ni pod nadzorom javnih organov.
On account of its status, it is legally independent of the CDC and invests for the exclusive benefit of its subscribers, in competition or together with private investors.
Zaradi svojega statusa je po zakonu neodvisna od družbe CDC in izvaja naložbe v izključno korist svojih vlagateljev, in sicer zasebnim vlagateljem konkurira oziroma z njimi sodeluje.
CDC Entreprises therefore manages FMEA’s funds entirely independently.
Družba CDC Entreprises torej upravlja sredstva sklada FMEA popolnoma neodvisno.
As regards the investment in Trèves, it followed the FMEA selection and investment committee recommendations without any state intervention.
Pri naložbi v družbo Trèves je brez kakršnega koli posredovanja države upoštevala priporočila izbirnega in naložbenega odbora sklada FMEA.
Consequently, the French authorities conclude on the one hand that the resources invested are not state resources in so far as they are not constantly under public control and therefore available to the national authorities and, on the other hand, that the decision to invest is not imputable to the State as CDC Entreprises is acting only in the exclusive interest of the FMEA subscribers and totally independently.
Francoski organi posledično sklepajo, prvič, da vložena sredstva niso državna sredstva, ker niso pod stalnim nadzorom javnih organov in torej na voljo nacionalnim organom, in, drugič, da odločitve za naložbo ni mogoče pripisati državi, ker družba CDC Entreprises deluje v izključnem interesu vlagateljev sklada FMEA in popolnoma neodvisno.
As regards the conformity of the FMEA investment with the principle of the prudent investor operating in a market economy, the French authorities recall that FMEA’s investment policy gives preference to viable projects of strategic interest to the motor vehicle sector, with strong growth and strong innovative capacity.
Kar zadeva skladnost naložbe sklada FMEA z načelom preudarnega vlagatelja v tržnem gospodarstvu, francoski organi opozarjajo, da se v skladu z naložbeno politiko sklada FMEA daje prednost projektom, ki so donosni in strateškega pomena za avtomobilsko industrijo, z velikimi možnostmi za rast in veliko inovacijsko zmogljivostjo.
In the case of Trèves, the investment was made on the basis of a realistic, rigorous business plan, validated by several private analysts.
V primeru družbe Trèves je bila naložba izvedena na podlagi stvarnega in natančnega poslovnega načrta, ki ga je potrdilo več zasebnih analitikov.
In addition, the acquisition of the FMEA’s participating interest in Trèves’ capital and the subscription to convertible bonds with adjustable parity occurred at the same time as other private investments and under the same conditions (‘pari passu’ investments).
Prevzem deleža sklada FMEA v kapitalu družbe Trèves in vpis obveznic, izplačljivih v delnicah po sistemu prilagodljive vezave, pa sta bila izvedena sočasno kot v primeru drugih zasebnih vlagateljev in pod enakimi pogoji (naložbe „pari passu“).
According to the French authorities, these factors are sufficient to establish that the investment is in conformity with market practices.
Po navedbah francoskih organov ti elementi zadostujejo kot dokaz o skladnosti naložbe s praksami na trgu.
As regards the application of the principle of the private creditor operating in a market economy, the French authorities consider that authorisation of Trèves’ tax and social security debt rescheduling plan is in keeping with the idea underlying the application of this criterion, i.e. that the public creditor, like the private creditor, must seek to recover the sums due to it by a debtor experiencing financial difficulties.
Kar zadeva načelo zasebnega upnika v tržnem gospodarstvu, francoski organi menijo, da je načrt odloga plačila socialnih prejemkov in davčnih obveznosti, odobren družbi Trèves, v skladu z zamislijo, na kateri temelji uporaba tega načela, in sicer da si mora javni upnik enako kot zasebni upnik prizadevati za izterjavo zneskov, ki mu jih dolguje dolžnik, ki se spopada s finančnimi težavami.
The French authorities specify firstly that no remission of tax or social security debts was granted to the Trèves group.
Francoski organi najprej pojasnjujejo, da skupini Trèves ni bil odobren noben odpis davčnih obveznosti ali socialnih prispevkov.
They consider that the two basic elements allowing the assessment of the private creditor principle, i.e. the presence of penalties and supplements for late payment and the interest rate charged, are observed in this case.
Po njihovem mnenju sta v obravnavanem primeru upoštevana oba bistvena elementa, na podlagi katerih je mogoče presojati merilo zasebnega vlagatelja, in sicer uporaba kazni in pribitkov zaradi zamud ter uporabljena obrestna mera.
In fact, the rescheduling plan provides for interest and penalties for late payment, defined prior to the agreement on the rescheduling plan and taken into account in the calculation of the monthly instalments payable by Trèves.
Načrt odloga plačila namreč določa zamudne obresti in kazni zaradi zamud, ki so bile predhodno opredeljene v sporazumu o načrtu odloga plačila in so se upoštevale pri izračunu mesečnih obrokov, ki jih mora plačati družba Trèves.
Furthermore, this is in accordance with Article 1153 of the Civil Code, which provides that, in the absence of a contractual term, lateness in payment of a sum due to a private creditor gives rise to the imposition of the payment of interest on arrears at the statutory rate.
Poleg tega v skladu s členom 1153 civilnega zakonika, ki določa, da se v primeru neobstoja pogodbene določbe zaradi zamude pri plačilu zneska, dolgovanega zasebnemu upniku, naloži plačilo zamudnih obresti po zakoniti obrestni meri.
This rate was 3,79 % in 2009, the year when the rescheduling plan was drawn up.
Ta obrestna mera je bila leta 2009, ko je bil pripravljen načrt odloga plačila, 3,79-odstotna.
The annual interest over the total duration of the rescheduling plan is approximately [5-10] %.
Letna obrestna mera v celotnem obdobju trajanja načrta odloga plačila pa je približno [5–10]-odstotna.
In the alternative, the French authorities recall that, at the same time as the tax and social security debt rescheduling plan, the lending banks of the Trèves group granted a rescheduling of their own liabilities through a consolidation loan.
Francoski organi podredno poudarjajo, da so banke upnice skupine Trèves hkrati z načrtom odloga plačil socialnih prispevkov in davčnih obveznosti privolile v odlog plačila svojih obveznosti, in sicer z dodelitvijo konsolidacijskega posojila.
Trèves’ private creditors therefore also granted payment facilities to ensure the repayment of their claims.
Zasebni upniki družbe Trèves so za zagotovitev poplačila svojih terjatev torej prav tako odobrili plačilne olajšave.
The French authorities find firstly that the majority of the comments received confirm that the FMEA investment in Trèves cannot be categorised as State aid.
Francoski organi najprej ugotavljajo, da večina prejetih pripomb potrjuje, da naložbe sklada FMEA v družbo Trèves ni mogoče opredeliti kot državno pomoč.