Security equipment company raided in EU over foreign subsidies concerns

"The Commission has indications that the inspected company may have received foreign subsidies that could distort the internal market pursuant to the Foreign Subsidies Regulation," the Commission said in a statement. It did not name the company nor the country where it is located. It can subsequently open an investigation if it finds sufficient evidence of distortive subsidies.

The European Commission on Tuesday raided a security equipment company in an EU country, saying that the company may have received distortive foreign subsidies, as it ramped up pressure against companies that unfairly benefit from such aid. The EU foreign subsidies regulation has allowed the EU executive since July 2023 to assess whether subsidies allow companies to submit overly advantageous offers in procurement tenders.

It has launched a number of investigations since then, targeting Chinese companies. "The Commission has indications that the inspected company may have received foreign subsidies that could distort the internal market pursuant to the Foreign Subsidies Regulation," the Commission said in a statement.

It did not name the company nor the country where it is located. It can subsequently open an investigation if it finds sufficient evidence of distortive subsidies.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)