Thomas, it was/is located in Denmark.
Have seen others in pictures over the years, and all of those "stabled" up here as well.
My clear assumption is that it is of Danish origin, but had a slight hope that i was proven wrong...
Not that it diminishes its value to me at all if it´s Danish, but unfortunately very few (if any) of the Danish engines, has a confirmed manufacturer.
Danish engines mostly seem to be smaller batches, ordered from the bigger department stores, and primarely built during and just after the war, since Germany who normally supplied our needs for tin toys, was pretty much "out of business".
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