The government has given four manufacturing companies negatively affected by the global recession a total of €3,698,766 in financial aid since February, the Times Business has learnt.

The government had so far been reluctant to disclose the individual financial packages given to the companies, saying this was a confidential matter.

The four companies, Methode Electronics, Trelleborg Solutions, Stainless Steel Products and Dedicated Micros have all been given funds for the training of employees and capital investment in new technologies and product lines.

Last February Finance Minister Tonio Fenech set up a task force to identify what help can be given to industry in the wake of the global economic climate. The idea was to adopt a micro approach and to come up with tailor-made solutions for individual companies that needed assistance.

All the financial aid given by the government to these companies is within the framework of EU regulations. The four companies helped so far had all been working on a four-day working week but have now reverted back to a normal five-day week.

The government is currently negotiating with another eight manufacturing companies which have been hit by the recession, to determine the type of assistance that can be provided.