L 150/28 Official Journal of the European Communities 17.6.1999 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 2 December 1998 concerning State aid granted by the region of Friuli-Venezia Giulia and the Italian Government to Seleco (notified under document number C(1998) 4035) (Only the Italian text is authentic) (Text with EEA relevance) (1999/398/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Atrticle 93(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular Article 62(1)(a) thereof, Having, in accordance with the abovementioned Article, given interested parties notice to submit their comments (), Whereas: (1)  Seleco, a company located in Pordenone, Friuli- Venezia Giulia (Italy), employed 1 500 persons in its consumer electronics business, more specifically in three sectors: colour televisions, decoders for () OJ C 373, 29.12.1994, p. 5; O] C 155, 20.5.1998, p. 24. encrypted programmes (pay-TV sector) and profes- sional television equipment (video projectors and monitors). Like other firms in this industry in Italy, Seleco has regularly received aid over the last 10 years (*) through the public financing institution Ristrutturazione Elettronica (hereinafter referred to as ‘REL’ (). ) In 1993 Selecto incurred losses of ITL 77,5 billion (ECU 41 million), an amount exceeding its own resources (ITL 60,6 billion in capital and reserves). To cover the losses, the different shareholders concluded a cover and recapitalisation agreement at the beginning of 1994 which provided for a partial write-off (ITL 16 billion) of the amount owed to REL (ITL 82 billion) by Seleco, a capital injection of ITL 13 billion by the public financial institution Friulia SpA and an undertaking given by the public-sector banks to underwrite, together with several private-sector banks, an ITL 9 billion recap- italisation, in proportion to their respective claims. The contribution from the public banks amounted to ITL 3,5 billion. (3) The Italian authorities notified only the contribu- tion from Friulia SpA, but the aid was granted (® In Decision C 20/91 (O] C 166, 3.7.1992, p. 6), the Commis- sion approved aid granted by REL to a dozen firms in the consumer electronics industry, the largest of which was Seleco. (%) Public body for the reconstruction of the consumer electronics industry in Italy, whose activities were the subject of the deci- sions of 17 January 1984 and 17 September 1985.