By Alimat Aliyeva

A new defense consortium Summa Defense has been created in Finland, uniting the country's defense enterprises, Azernews reports.

"There is a great need to develop, innovate and accelerate the defense industry in Europe. Our new company is responding to this challenge by creating conditions for small and medium-sized Finnish defense companies to successfully grow, develop and enter the international level," Summa said. This was announced by the defense consortium.

It was noted that new financing methods will help meet the significantly increased demand for defense products and services.

The consortium plans to increase its turnover to 500 million euros by 2028 and is considering going public over the next 12 months.