ATP funds defense firm Terma with billions

Danish pension company ATP has invested a double-digit billion amount in Terma, a defense manufacturer based in Lystrup, near Aarhus, marking them as a new co-owner. The investment comprises equity and a loan, fostering Terma’s growth ambitions to double their turnover within three years. Terma, which makes technology for the defense, security, and aerospace industries, including components for the F-35 jets, aims to respond to the need for advanced technologies and equipment within the Danish defense industry. Currently, Terma has a turnover of DKK 2.6 billion and employs 1,700 people in Denmark. ATP’s investment will allow Terma to expand further and pursue their strategy. ATP, a state pension fund contributed to by all wage earners, has also gained a seat on Terma’s board of directors. Activists had previously blocked Termas’ headquarters to protest against its indirect supplies to the Israeli air force.