Tanfield Group is the new company name of Comeleon. As I understand it, Comoleon was getting into trouble so TAN (paerent company?) took over. Since this has happened the share price has dropped by 0.25p each day for the last week or so (on average) and are now around the 3p mark with very little activity.

Does anyone know much about this company or previously held stock in Comeleon? There is virtually no info out there other than on the company website.

cheers

Mike

Tanfield Contract from TNT Express


RNS Number:5396V
Tanfield Group PLC
26 April 2007

26 April 2007

The Tanfield Group Plc
("Tanfield" or "the Group")


SMITH ELECTRIC VEHICLES SECURES CONTRACT FROM TNT EXPRESS


Tanfield, the leading manufacturer of zero emission electric vehicles and aerial
work platforms, today announces that Smith Electric Vehicles has secured a
further contract to supply its electric vehicles to TNT Express for immediate
delivery. The electric vehicles will be deployed across the UK and trialled for
the first time in Europe.


TNT Express UK has initially ordered fifty battery-powered Newton 7.5t trucks
from Smith Electric Vehicles, a trading division of Tanfield. This contract
follows a six-month long trial in and around London, completed two months ahead
of schedule, by TNT Express UK of the Newton, which was deployed in TNT's
delivery and collection operations.


Additionally, TNT Express has ordered a further five electric vehicles from
Smith Electric Vehicles for its first trial in mainland Europe. The vehicles
will be deployed in a variety of urban operations in Rotterdam, Holland and will
be a mixture of the Newton 7.5t truck and the Edison 3.5t van. Both electric
vehicles use body shells that are universally recognised by the fleet drivers
and perform all the usual tasks of a conventional diesel vehicle. The Edison
electric van utilises a Ford Transit body shell and was launched this week ahead
of the Commercial Vehicle Show in Birmingham on 24 April.


TNT is a European market leader in global express, logistics and international
mail services and has a fleet of 45,000 vehicles across Europe of which 3,500 is
the UK vehicle fleet. TNT Express UK has previously stated that it is committed
to purchasing up to 200 Newton 7.5t trucks over the next two years, subject to
the results of the trial, which has now been completed. TNT is currently looking
for further opportunities to deploy further electric vehicles throughout its
operations in the UK and mainland Europe.


The on-going trial with CEVA Logistics (formerly TNT Logistics) continues to
progress well.


Darren Kell, Chief Executive of The Tanfield Group Plc, said:


"The thorough trial conducted by TNT has demonstrated that our electric vehicles
perform superbly in urban areas, while also providing a compelling reduction in
operating costs and zero emissions.


Our existing production facilities have the capacity for these vehicles and
additional volume orders. We believe that this order further validates our
strategy of seeding electric vehicles with major fleet operators. We are
confident of receiving further volume orders both from TNT and other operators
as current electric vehicle trials are concluded."

TNT are in a constant PR battle with rivals DHL,FedEx,UPS to claim the biggest green halo. They all have very genuine and ongoing commitmet to the issue. Those rivals are now going to have to green up their own fleets another notch methinks, if they wish to live up to their claims. That may or may not involve buying from Tanfield - but will surely encourage them to look even more seriously at zero-emision electric vehicles in some of the areas where they may have been favouring hybrids.

TNT have again made clear that - even without the environmental advantage - their trials have proved there is a very valuable reduction in fuel & maintenance which more than balances out the upfront purchase price. That upfront price is nearly twice the cost of a diesel - but with batteries accounting for a huge chunk of that, the differential is expected to plunge in the coming years as battery performance improves and volume production kicks in.

Gallery of 46 images from last week's 'Bauma' exhibition in Munich
Bauma images

The strike previously reported at the smaller Tanfield Engineering division (and which didn't involve the main works) has been called off.

Morgan Stanley reportedly regard 250p as "not unrealistic"

dated 14 May 2007

Juzzle ..... your post almost implies that 250 is MS's target, when of course that is not really the case at all, 160 being the figure, albeit within a shorter timescale

True. hence my inclusion of a link via which anyone can see the whole picture rather than relying on my attention-grabbing one-liner ;o)

Had I posted without that link, I would have felt obliged to extend the one-liner somewhat, so as not to mislead.

And as if that bullish Morgan Stanley endorsement wasn't enough - check out the content of the latest Newsletter from UpRight. A truly amazing turnaround, and no sign of things levelling off.

Newsletter 43, 15 May

Heathrow operations using Smith 'Newton' 9-tonner

And now planning a fivefold expansion

NEWCASTLE-UPON-TYNE, England, May 22 (Reuters) - Electric vehicle maker Tanfield Group Plc (TAN.L: Quote, Profile , Research) plans to double output this year to meet growing demand from emissions-conscious customers, its chief executive said on Tuesday.

Tanfield assembles five vehicles a week and will make 10 a week by the end of the year and 30 next year.

Exports, which make up about 15 percent of its electric vehicle division sales, are also expected to rise and account for 40-50 percent of sales next year.

"Our customers are increasingly concerned about high oil prices, energy security, air quality and their carbon footprint," Darren Kell said on the telephone.

"At the same time, new technologies have improved the performance of electric vehicles, so they make better commercial sense, as well, so they tick all the boxes now."

Tanfield's 7.5-tonne Newton truck, launched in December with a price tag of 60,000 pounds, has a range of around 130 miles before recharging and a top speed of about 50 miles per hour (80 kpm).

The group has also recently launched a 9.0-tonne variant and a 3.5-tonne vehicle, aimed at the small van market. It is scheduled to shortly launch a 12-tonne vehicle.

Its clients include delivery firm TNT (TNT.AS: Quote, Profile , Research) and British retailer Marks & Spencer Plc (MKS.L: Quote, Profile , Research), which has said it could replace part of its diesel-fuelled fleet with electric-powered trucks made by Tanfield.
Its vehicles are also being trialled by other companies, including Starbucks Corp. (SBUX.O: Quote, Profile , Research) and DHL (DPWGn.DE: Quote, Profile , Research).

Tanfield also plans to start making electric vans and trucks in the United States, where there is growing interest in the segment even among the big automakers including General Motors Corp. (GM.N: Quote, Profile , Research).

Tanfield's facility in California already makes electric cherry pickers, and the company is raising output there from 25 vehicles a week. It plans to start making electric vans and trucks there or in another U.S. facility, Kell said.

"Electric vehicles are not a panacea for all automobile ills, but they do deliver solutions for specific problems like pollution and congestion in the cities," Kell said.

"I don't see anything slowing down the march of electric vehicles, except if someone discovers carbon is good for the environment."

Anyone know who makes the batteries for TAN vehicles??

Duracell ..... 6 x AAA!

Thanks cynic!

Battery manufacturer I think is a swiss company (MES-DEA) but do not think listed in UK!

I was just wondering if it was AXE, but sadly no. So duracell it is for my go-cart!

am told on good authority that one should not use Duracell in one's vibe as they are too powerful and burn out the motor ...... good trivia for your pub quiz!

great company and great prospects, but has sp now got too far ahead of itself and due for a breather or a modest retrenchment?

I keep thinking the same then it just seems to race away again. The general market cant seem to get enough of this one which I'm delighted with but who knows....

I have a large holding (for me) of Tanfield in SIPPs and the company has done a power of good to them.

However , when I check the PE of this company it is horrendous to the rest of the market. BUT, it is developing very quickly and EPS ans therefore pegs are V,good.

Its order book seems to be full to overflowing and the future looks rosy.


There has been a lot of institutional buying.

My only fear is what the cost of necessary expansion for the foreseeable production.

I think the market as a whole is "jumpy" and there will be a retracement sometime and this will probably this will hit TAN as well, but I will try and sweat it out if it does occur.

BUT DYOH.

as advised over w/e have now banked my very healthy 30%+ profit after 6 weeks ..... however, it was intersting to see that those shares got snapped up without a second's hesitation.

am sure i shall be back in here in due course

current target price for buying back in currently looks to be 145/150 - i.e. when sp comes back to meet 25 dma