Terma prepares for further growth

Lystrup Denmark – With a growth rate of 15% for the third year in a row, Terma secured its best financial result ever for the 2016/17 fiscal year. The export share increased to 94%, helped by the expansion of local facilities in selected markets, of which the U.S. market constitutes more than 40% of total revenue.

On this positive background, Terma takes action to prepare for further growth with the main objective to stay competitive on the F-35 program and to strengthen our position in the U.S. market.

Manufacturing in Grenaa, Denmark

The Aerostructures Business Area, based in Grenaa, Denmark, will be further strengthened as a world-class manufacturing unit with full focus on continuous cost reductions and efficiency improvements to stay competitive in the market for aircraft composites manufacturing. In addition, it has been decided over the coming months to establish a global supply chain management function across all Terma operations.

The Grenaa manufacturing unit will be led by Jørgen Laursen, who has been appointed Senior Vice President, Manufacturing Grenaa. The head of the former Aerostructures Business Area, Ole Graversen, has decided to leave Terma. We all want to thank Ole Graversen for his hard work and dedication.

It has further been decided to merge the existing Aerostructures and Airborne Systems Business Areas into one new Business Area, Terma Aeronautics, which covers all airborne activities from composites and electronics manufacturing, audio systems, and self-protection systems for aircraft. Terma Aeronautics will be led out of Terma North America Inc., to be close to our key customers and partners.

Terma Aeronautics will be led by Steve Williams, President & CEO of Terma North America Inc, with Senior Vice President Dan Ulrich, Terma A/S, as his deputy.

The changes will take effect on 1 June 2017.