does tanfield have 2 good businesses ( smith electrics and upright)which are good value for the medium to long term hold ?

Hype? This thread looks pretty un-hyped on the whole.The SP more or less held-up from previous gains and a nice bit of trading volume t'boot.

I agree Balerboy, 2012 is a long time to wait, but TAN's prospects in today's climate have to be so much better than they were this time last year. Ford will be putting a lot of their own cash (if they have any left !) into ev's and SEV-US will be one of the main beneficiaries.

http://www.allcarselectric.com/blog/1019758_ford-commits-additional-funding-to-evs-downplays-fuel-cell-technology

Also, although Bryan Hansel, SEV-US CEO, has not commented on orders already received, I cannot see Ford and Smith taking a gamble on introducing a proven technology to the US without having firm evidence that production of the Smith Newton over there will be successful. The quotes are that "SEV-US will produce its first trucks (note the plural) in the third quarter of 2009"; quite a claim since that is only 6 months from now and the factory is not yet ready. Sounds like all stops out and full steam ahead to me. Oh, except that they will be electric not steam!

You are quite right to wait. Don't take your eye off TAN though!

http://thebatterytimes.com/2009/03/30/worlds-largest-battery-powered-truck-comes-to-us/comment-page-1/#comment-259

There are now over 300 different versions of the story which have appeared since Friday.

Hope you boy's took your profits when you could cause this is going down till the next snippet of news.

I have traded TAN many times over the past 12 months and done very nicely out of it but this time I will hold long term. The next 'news' will probably be the results, it is anybody's guess what they will be like. When news of orders comes through I don't want to be in a position where I would wish I had not sold any of my holding: if things go pear shaped then obviously I will regret it!

If GM and Chrysler are stuggling I reckon Ford are going to be slow and cautious.
Your bottom line is sooo SEO, is your old name E.W.Robson by any chance?? lol

Lol! No :o)

Tan, will wobble for a few months while GM looks at its books and slashes executive perks and bonuses. Before being bailed out.

I can't see Obam, allowing them to go to the wall.

In the meantime, don't forget that TAN's core business at the moment is it's lift business; this latest newsletter seems to indicate that all is going well enough:-
http://www.tanfieldgroup.co.uk/Newsletter_Upright_Issue137.html

The latest news from Enova is:-

"In the first quarter of 2009, Enova received an order from Smith Electric Vehicles U.S. Corporation (SEVUS Corp.) to deliver at least forty-five (45) P120 systems per quarter, starting in the second quarter of 2009. Enova and Smith have worked closely over the past year to re-align our sell through expectations, both in the UK with Smith Electric Vehicles, and here in the U.S. with SEVUS Corp. We are excited to see the results of these efforts have resulted in additional traction for both Enova and Smith"

So signs of life there then! and note the "at least" statement. Don't be put off by "(45) P120", I know it looks it a bit too close to being "P45" for comfort!!

I still recommend caution however; until the trucks are rolling quietly over the roads in the USA it is too early to make a big commitment: keep watching though, the sp will move very quickly on confirmation of firm orders and is unlikely to retract at that point.

Results better than I had expected, especially Net Cash. At the moment the market seems to have looked upon them favourably and is looking to the future. If Gordon Brown really means what he says about ev's, then the future may well be very rosy.


8 April 2009
Tanfield Group plc
Preliminary Results

Tanfield Group plc ('the Group') announces it's Preliminary Results for the year ending 31 December 2008.

Financial Highlights
Turnover: 146m, +18% (2007: 123m)

Profit before exceptional items: 1.7m (2007: 12.8m)

Net cash at year end 11.1m

Impairment of goodwill, intangibles, inventory and receivables of 89.6m

Loss after impairment 88.5m

Corporate Highlights

30% cost base reduction in 2008

Further 27% cost base reduction in 2009

Strong balance sheet remains after impairments

US joint venture and customers

Roy Stanley, Chairman, said: 'This has been a challenging year for the Group. However, we are a business that is lean, nimble and focused, with a highly experienced management team, which reacted promptly and decisively to the adverse market conditions. Tanfield is well placed to trade through the downturn and to move rapidly when its end markets improve'.

Im sorry but I thought the results were awful. They have no debt which is a plus but cash pile is well down and how a big loss can be deemed any good is open to great debate. I sold out at 13p and made a nice profit (got in at 10p) and I feel the MM's are simply trying to catch a few more people before the sp drops down to 7p or thereabouts. Hope I'm wrong for those who hold but ...

Dealer, the loss was due to a write down in Snorkel's goodwill etc.; admittedly the 1.7m operating profit is not sensational but it is a profit at least! Financially TAN is better placed than most industrials at this point and commercially they are at the forefront of a new push to a future, like it or not, dominated by ev's. I was wary that the cash at year end would be lower than the forecast 11m, don't forget that it increased in January to over 13m.

I am content, for now!

Good luck, I hope it does well for you. I'm just happy to day trade it as and when appropriate until I see a real improvement in market conditions then it may well be a long term hold.

Can't blame you Dealer, I do day trade it myself, as well as being in long term. I hope it's not too long ;o)

Good coverage on electric vehicles Channel 4 News last night and the World at 1 (radio 4), as I write.

Also promoting ev's ,Gordon Brown was speaking with Jeremy Vine on R2 this afternoon.

kim does that improve TAN's prospects?

Not one bit as such Halifax! But it does start to lay the foundations for a sustained growth in all ev's. Which pollutes more, a car or a truck? If the world leaders are truly intent in cutting down emissions then trucks are possibly more important than cars. I had to make a short journey down the A55 this afternoon and out of interest I counted the number of lorries (oh yes Mr Policeman, I was being driven!!) in ratio to cars and it was a staggering 1 lorry to every 3 cars. At least a third of the lorries were belching black smoke into the atmosphere. Cut that lot out with Smith Electric stuff and the Green party will be grinning obscenely for a very long time ;O)

kim TAN doesn't make lorries it makes vans.

Kimold puff and chuff..... were the lorries you looked at made in 1965???? or did you have your shades on. the black smoke belchers went a long time ago, very fuel efficient cumfy cadilacs now. lol