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

Not looking pretty,still got a PE of 53 according moneyam which is high by even Chinese standards

TAN very likely to fall to 70-80p

I got a few more at 99p , good or bad move ? we shall see .

another extraordinary (in my eyes) collapse ...... is their market really so sensitive to US markets, in which TAM seem to be performing well anyway? ..... anyone got any plausible explanation given that the company seems to perform time after time?

I think its a combination of the recent Investec report (from a clueless broker!), general markets and some serious shorting. Its one hell of a blow to fall so sharply and as far as I'm concerned the fundamentals of TAN hasn't changed and I certainly wont be selling anytime soon.

Here is a response from Darren Kell:

ELECTRIC vehicles maker Tanfield has insisted it is set for another year of growth despite heavy falls in its share price after a broker lowered its recommendation from “hold” to “sell”.

In the past five days the Washington firm has seen its share price fall from a peak above the 135p mark to a low of 99p.

The plunge came as Investec downgraded its recommendation for the manufacturer from hold to sell and cut its price target from 186p to 112p.

Investec analyst Chris Dyett said: “2007 was a good year, but we believe 2008 will be trickier.

“We move from a ‘wait and see’ stance to one where our concerns start to outweigh the positives. Management is clearly confident of future delivery. However, much execution risk remains and we believe the challenges to come look greater than those overcome to date.”

The broker’s note warned that the downturn in the US industrial and commercial markets could hit Tanfield’s recently-acquired American operations. Last year the company acquired US aerial platform maker Snorkel for £49.9m and also bought a factory in Fresno, California.

The Investec note said: “Softness in the North American and European industrial and commercial markets will free up capacity at the other players and cause downwards pricing pressure in a market where pricing power is limited, in our opinion.”

However Tanfield chief executive Darren Kell shrugged off the broker’s suggestions and maintained that the firm’s prospects for 2008 remained strong.

He said: “We think the Investec note is so out of kilter with the rest of the consensus of other brokers. We are not concerned about our performance in the US and we see a very strong year there and we know that we’ve got tremendous growth ahead of us. The thing I find strange about the broker’s note is that it vehemently agrees that we have done a tremendous job, but then downgrades us.” In fact, such is Mr Kell’s confidence in the US market this year that he expects to double the production capacity of the firm’s $150m-a-year Snorkel plant from 70 to 140 aerial platforms a week.

On a positive note, the report acknowledged that the electric vehicles market was becoming increasingly viable as oil prices continued to increase.

However, it warned: “Our concerns are that it is never an easy process to ramp up production significantly – Tanfield is broadly indicating volumes will go from 260 to 1,000, 5,000 and then 10,000 in 2010, which is some ask – and that, in our opinion, it is likely that a number of incumbents will enter the market at much lower volumes than Tanfield’s management expects.”

we shall see ..... i am (was!) overweight here, but also intend to continue to hold, for all sorts of good reasons, not least being their consistent delivery of promises and regular orders from quality clients ..... indeed, with oil seemingly rising inexorably (not true of course) and tax incentives for lowering sulphur dioxide emissions and the like, one could argue that there are now even stronger reasons for delivery vans and the like to be switched from petrol/diesel.

Does anybody know how much it costs to run their vehicles. If the oil price drops to say $60 will it be worthwhile buying vehicles powered by electricity?

TAN might well be able to tell you, but in any case, anti-pollution laws are bound to get tougher

halifax

look on advfn site . free bb - excellent tanfield info

Halifax,

I don't think the price of oil will determine whether it will be worthwhile buying electric as this will be driven by governments to reduce carbon emissions on a global scale.

As for the running costs I'm not sure, although if Royal Mail, dhl and the likes are happy to purchase them then I dare say they have already done their homework on the running costs.

where is the next support level

Will somebody re-charge this sp please!!

Kim
Dont do a SEO it might be time to get out as WOODIE says where is the next support level?

For me this is starting to look interesting and may come in at some point.

Too late for me to get out Driver, so another SEO for me ;o) Not really concerned as I am holding long term, maybe in this case long, long, long term!!

Running costs are not the issue, IMHO ( if you mean fuel-cost per mile) - as the main benefit of Going-Green is the ability to get noticed (Publicity!). . . . This is at the same time as many Companies will jet their Execs to a meeting in some far-flung part of the World.( ie Waste).

As congestion-charges rise, to satisfy City-spending ( ie nothing to do with any notional pollution cost), then TAN will see good business in the regions surrounding London ( and other Cities also, as they find this easy tax-money).

Generally (in a downturn), Companies will conserve their Cash, and maybe that means keeping all vehicles a little longer.
I understand TAN sp rise is from the small/medium delivery vehicles, although they do have an "access" business also....which is likely to remain flat as companies can hire such equipment. It may be this that has caused them to expand into vehicles.... dunno.

I think the issue is that it is being shorted.

I tried to place a share bet, but CMC don't cover AIM at the moment.

Any body know of any other company who do or who CFDS.

I am also a long term holder but woul like a few more at this price.

The Fuandamentals (If you can bekieve them) seem solid.

Any number of SB / CFD outfits Fred, IG springs to mind

The market is trying to bring the price earnings ratio down to sensible levels, dont forget TAN is still only a vehicle manufacturer and has production constraints.

Fred CMC do cover it for spread betting!

Skinny, No they don't. There is a bid/sell screen, but it is a trial and they are not set up for trading, but along with some other AIM stock they may be introduced.
I tried on line and tel.


Nuisance!!