May 15 (Bloomberg) -- European Union regulators opened an in-depth probe into whether Spanish subsidies for a unit of Ford Motor Co. break the bloc’s competition rules.
The European Commission said the support for a project in the Valencia region “might exceed” limits on use of public money to boost production capacity in declining markets.
“We firmly believe that our state aid request for the Ford Transit Connect is line with EU law,” Adrian Schmitz, a spokesman for Ford of Europe, said in e-mail. “We will work with the Spanish government and the EU Commission to clarify the situation.”
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