The pension company now admits that it has lost an investment of a total of 2.3 billion kroner in the upcoming bankruptcy of battery manufacturer Northvolt.
Pension company ATP's investment in the Swedish battery manufacturer is now worth zero. All this after an investment of 2.3 billion kroner.
ATP director Martin Præstegaard admits this in an interview with DR .
The money comes from all Danish wage earners. Or at least most of them. Because since 1964, they have paid into the so-called Labour Market Supplementary Pension. In other words, ATP:
But director Martin Præstegaard has not done his job well enough. Because now the fortune is gone. Northvolt, whose extreme financial difficulties Boosted has described several times, is on the verge of bankruptcy.
And although the company has just sought bankruptcy protection in the US, there is little indication that production at Northvolt Ett will resume.
The factory in the city of Skellefteå has also had to listen to many criticisms. In the past year alone, occupational health experts have demanded the factory be closed due to deaths, BMW has withdrawn a gigantic order , and Volkswagen stands to lose an even larger amount of billions than ATP.
– The value of the company today is not very far from zero. This means that most of the investment is gone, says director Martin Præstegaard to DR.
Even though the director has lost all the money, he still won't rule out investing even more money in the project. That, he says, depends on whether the pension fund can see a 'case' in it.
ATP is not the only Danish company that has lost a staggering amount at the Swedish battery factory. So have PFA and Danica Pension, according to DR.
