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

very helpful .... thanks

Somebody has faith in Tanfield.

Subject:
Date: Thu 1st Apr 2010 7:56:25
Region:
Market sector:
Company: Tanfield Group PLC


DJ Tanfield Group US Associate Company Gets More Grant Funding




LONDON (Dow Jones)--Tanfield Group PLC (TAN.LN) said Thursday its U.S. associate company, Smith Electric Vehicles U.S. Corporation, or SEVUS, has been awarded an additional $22 million funding grant from the U.S. Department of Energy, or DoE.

MAIN FACTS:

-The funding will be used towards the production of its Smith Newton electric truck.

-This funding is in addition to the $10 million DoE grant announced in August 2009 and is the result of SEVUS working closely with the DoE for several months.

-The DoE funding incentivises major fleet operators to participate in a nationwide demonstration program.

-Qualifying companies will receive a subsidy towards the cost of electric trucks, in return for providing operational data back to the DoE.

-The additional grant means SEVUS can now produce more than 500 of its Smith Newton all-electric commercial trucks for the program.

-Some of the funding will also help SEVUS to offset the cost of future product development.

-Tanfield owns 49% of SEVUS, with the remainder owned by private investors and SEVUS's senior management team.

-On March 10, SEVUS made a conditional, non-binding offer to buy Tanfield's Smith Electric Vehicles Division Assets, conditional, inter alia, on SEVU.S. financing.

-Shares closed Wednesday at 32.0 pence.



-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com

Wouldnt it be nice if the Uk govt was prepared to support Tan with orders rather words .... US seems to understand the difference between cash and words.

TANFIELD GROUP PLC ("Tanfield")


Notice of Results


Tanfield announces that it expects to publish its results for the year
ended 31 December 2009 on 7 May 2010.

sorry - duplicated below

US President Obama is visiting the Smith Electric Vehicles facility in Kansas City, at 12:30pm (local time) this Thursday.

We've been waiting for confirmation that this US offshoot will be buying out the UK/Europe Smith EV operations. Might this come at the same time? It would surely please the President to be able to describe it as a wholly US company.

And sometime this summer we are expecting that the company will float itself on the US stockmarket.

All of which should excite some share price movement.

Juzzle, are you sure abt the Smith- ownership?
I though TAN held an interest in Smiths, rather like they own US-based Snorkel.
EDIT, sorry I've read previous post, I agree...so this might explain TAN-rise then?...a Wad of Cash would be useful for the Balance Sheet. But is it a good deal in these times? I thought Smiths EV used to be a British Co that went to the US, dunno. +See below, I'm not sure TAN really needs Smiths, as they source bodies in the UK, Ford provided some, I read.
These days International ownership is seen positively (except in the case of British P.... wash my mouth!), so I don't see the need for Smiths to be entirely US-owned.

It is unfortunate that TAN-customer is the hire-industry and some are going out of business, putting surplus "access" stock on the market. +Tanfield was never a big player in Eco-issues, . . . . IMHO they trumpeted sales of ONE vehicle to each of about six large users. I understand they did sell a small number to the parcel-delivery industry, but this was to circumvent the London Congestion Charge.....IMHO.
Also, I am concerned about TAN source of motors/final drives. This means TAN is closer to being a fitting-out business than a "manufacturer".
"Access" equipment is the main "manufacture" as you know.
The city bought very expensive shares (that Rights issue) way back when Snorkel looked like a no-brainer. I never understood the City-excitement, back then.
I hold from recent moderately low prices, but still not yet evens.
+They have a new policy of CONsolidation...Ooops!
TAN vehicles are commercial, so I don't know what the Government can do to increasetake-up in these times.
Better for Gov. to fund research for a new Battery that would be 10x better/lighter than what we have. Batteries are still too heavy and underpower, IMHO. A factor of TEN would create a whole new industry. However, I doubt we'll ever get one. Hydrocarbons are v.concentrated energy and elec.batteries are not the way forward I guess.
All IMHO.

From US press:-

KANSAS CITY, Mo., July 8 /PRNewswire-USNewswire/ -- President Obama today addressed workers at the Smith Electric Vehicles plant to discuss the state of the economy and jobs. Smith Electric Vehicles is the nation's top manufacturer of battery-electric trucks and was recently the recipient of a Department of Energy grant to help offset future vehicle development costs and incentivize customers to participate in a commercial electric vehicle demonstration program.
Following the President's remarks CEO Bryan Hansel released the following statement:
"The administration has demonstrated its commitment to electric vehicles with the president's executive order last year requiring all federal agencies to set a plan for reducing greenhouse gas emissions and the Department of Energy's funding of promising electric vehicle technologies, like the Smith Newton.
"The $32 million in DOE funding is a game changer for our business, as it is for the wider industry, allowing us to rapidly scale up production, drive down costs, increase demand and create more high-quality manufacturing jobs."
Smith Electric produces the Newton, which is the only all-electric medium/heavy-truck offering on the GSA Schedule. The truck delivers a top speed of 50 mph and offers end users battery ranges from 50 to 120 miles on a single charge. It operates at peak effectiveness in urban applications that demand heavy stop and go driving. A single overnight charge provides more than enough range for most urban delivery routes.
Said Hansel: "The best way to understand this truck's capabilities is to get in and drive it and this grant will give more potential customers that opportunity. By eliminating concerns over fluctuating fossil fuel prices, commercial electric vehicles give business owners unprecedented cost certainty as they look toward managing the next five-to-ten years of their fleets."
Current Smith Newton customers include AT&T, Coca-Cola, Frito-Lay, Pacific Gas and Electric Company (PG&E) and Staples.
About Smith Electric Vehicles U.S. Corporation: Smith Electric Vehicles U.S. Corporation (Smith) (www.sev-us.com) is an all-electric zero-emissions commercial truck manufacturer. The company licenses its proprietary technology from Smith Electric Vehicles in the U.K., the world's largest manufacturer and industry leader of commercial electric vehicles.
SOURCE Smith Electric Vehicles U.S. Corporation


Also:-

Obama Touts Government Investment in Electric Vehicle Factory

President Barack Obama said a $32 million government grant to a maker of battery-driven trucks is an example of how government funding can help businesses generate jobs as the nation recovers from a brutal recession.
Government doesnt have all the answers, and it cannot generate the jobs or growth we need by itself, Obama will say today after touring the Smith Electric Vehicles factory in Kansas City, Missouri. But government can lay the foundation for small businesses to expand and hire, he will say, according to a text of his prepared remarks released by the White House.
Obama is on a two-day trip to Missouri and Nevada to stump for his economic policies and raise money for Democratic Senate candidates. Tomorrow hell also give a speech on the economy in Las Vegas.
The economy, jobs and the deficit are likely to be top issues in the November elections that will decide control of Congress. Obama today defended the $862 billion economic stimulus measure Congress passed soon after he took office, which Republicans have criticized as wasteful. And as he has stepped up his defense of his own policies, he has increased his attacks on Republicans.
Political Calculation
There are those who argue that we ought to abandon our efforts - and others who have made the political calculation that its better to obstruct than lend a hand, Obama said in his speech text. They ought to tell the workers of Smith Electric that wed be better off if your jobs didnt exist.
The U.S. economy is struggling to recover from the worst recession since the 1930s, with 83,000 private jobs added in June and unemployment at 9.5 percent.
Without the government action, Obama said the economy faced a nosedive that threatened to drag us into a second Great Depression. He said he expects energy investments alone to generate 700,000 jobs over the next few years nationwide.
http://www.bloomberg.com/news/print/2010-07-08/obama-touts-government-investment-in-electric-vehicle-factory.html Page 1 of 2
Obama Touts Government Investment in Electric Vehicle Factory - Bloomberg 08/07/2010 19:08
The administration has highlighted governments investment at Smith Electric, which was matched by $36 million of the companys money, as an example of how the government can help the private sector create jobs.
The Smith Electric factory will eventually employ about 70 people and build about 500 battery- powered commercial trucks per year, Matt Rogers, an adviser to Energy Secretary Steven Chu, told reporters yesterday.
Purchase Capital
The intent of the funding here is to enable Smith to purchase the capital equipment necessary to get this manufacturing assembly line operational, he said.
The company plans to build as many as 20 factories around the country. This is a microcosm of precisely what needs to keep happening, said Jared Bernstein, Vice
President Joe Bidens top economic adviser. Later today in Kansas City, Obama will attend fundraisers for Missouri Democratic Senate Candidate
Robin Carnahan in Kansas City. Tonight hell raise money in Las Vegas for Harry Reid of Nevada, the top Democrat in the Senate,
and tomorrow hell give a speech on the economy before returning to Washington.

Odd this excitement has raised TAN sp, only to have it dashed when an "extension" is granted - ovbiously the Sale is not happening too soon.

(( what TAN owns - they own Smiths EV in the UK...and 49% of SEV-US. For Access, there is Snorkel-US, and UK UpRight - selling to the Hire-business mainly)).
President Obama is helping his supporters to be re-elected, I'm guessing, so the grant of money to SEVUS will demonstrate his committment to electric trucks, but that doesn't mean TAN will be bought off, say until the plant(s) start showing profits. Therefore, I conclude that TAN will not receive this cash and it's up to TAN-Execs to make good the Company with what they have.
Indeed "the offer" back in March10, may have been simply to align SEVUS with being a US-business, since now we know anything "British" is not liked by PO.
However, I'm not convinced that TAN-investors want the Cash - it's nice for Dir Bonuses (HUH!), but I doubt retail punters will get anything.

+So, it may be "better" to keep Smiths and look at the LT benefits of a home-grown EV facility possibly gaining from the US production and maybe a cross-selling of US-trucks (LHD into Europe) might give TAN an additional income stream - I think the UK van-factory in the Midlands did not secure Gov. funding during 2008/9 when they were in difficulty - can anyone confirm...?
Ah well another Op to buy TAN more-cheaply.....aargh and Zzzzz.
EDIT(22Jy2010)- Grief you'd think getting AGM info would be easy - NO! The RNS tells you to visit the website (awful) and the best I could find was a repeat of the RNS - telephone them after 3.15 and they are on message...=not ans.....ring again loser! =my take....Grr - no wonder weak-holders are leaving.....AGM is "probably" somewhere "UptNorth" - who knows, or cares, eh?
EDIT(18/8/10)-Interim results no better than last year, -and no worse thankfully. This co is still pushing that elephant through the back porch. Still we can look forward to an uneventful AGM (with staff) and Execs pay and Options....noses in trough and not facing the real World....Arrgh!
EDIT-(26/8/10)- TAN drops 38% (rights issue)-Ah so CON solidation didn't work for them either (way back).
Let's hang a few Dirs out and see what this lack-lustre business is worth. I suspect (No, that's hope) there is some fundamental value there, but I'd like to see some evidence of goods in progress, and so on, before propping up these Dullard Execs. Sure, in the past they conned everyone and the City paid a ot for shares (Placing), all IMHO. Arrgh!

I think you've got that just right hangon!

Currently down 34.5%.

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

Expected Financing Arrangements


In its interim statement published on 18 August 2010, Tanfield announced that,
despite its focus on cash preservation, its net cash had fallen to GBP2.2
million at 30 June 2010 and that, as a priority, it was reviewing alternative
ways to fund the continuing cash outflow until it could complete the
consolidation of its Electric Vehicle businesses currently under negotiation,
successful implementation of which was expected to lead to a cash inflow for the
Company.

In view of the absence of available credit facilities, the Company is currently
in negotiations to finalise a possible equity fundraising. Such fundraising is
expected to be structured on a pre-emptive basis as an open offer to all
shareholders and partially underwritten by certain of its Directors, at a
substantial discount to the current share price.

The outlooks for the Powered Access and Electric Vehicle businesses have not
altered from those set out in the interim statement published on 18 August 2010.

There can be no assurance that the equity fundraising will proceed or that the
discussions with SEV US, which remain subject to financing, will lead to a
successful outcome. In the absence of such fundraising, or if the expected
consolidation of the Electric Vehicle business failed to complete the Company
would have to review its financial position and alternative sources of funding.

A further announcement will be made as soon as practicable.

and to think that i used to think this was going to be a really great company ..... i lost quite a lot of money on this one when it first crashed, and thank goodness i was never tempted back in

wise move cynic - i lost a bit on this - not huge as never went in big - always had a lingering doubt - might risk a day trade here though!

ah well quick buy and sell just over 500 profit to put towards my tan loss last time round - makes it a little better - dont think i'll risk anymore here today! unless drops to 10p later!

Well done gibby.

Stange thing is, TAN and the old Worthington Nichols are about the only 2 companies that I haven't lost money on at some point or other which is a bit bizarre as many people have!

Once the shorters have closed their initial positions which is where you made money, I've found that any further attempt to play this market doesn't work so I think you're wise in leaving it alone now.

thanks dealerdear - wow not lost money on tan - you have done well and good on you - i got my timing wrong some time ago on - so been wary of tan ever since - at the moment i would not want to be in they seem up to their necks in it - credit likely not to be available and would anyone want to part with cash to help them out here - i would be surprised - and yes think wise to leave now - but still watching as i suppose many are - have a good day

Open Offer



TIDMTAN

RNS Number : 3119S
Tanfield Group PLC
08 September 2010

?
08 September 2010
TANFIELD GROUP PLC ("Tanfield" or the "Company")
Open Offer of 20,000,000 new Ordinary Shares at 10p per share
Highlights
� Open Offer to all shareholders of 20 million new ordinary shares to raise
up to GBP2.0m before costs
� Issue Price of 10p per share (31.0% discount to closing price on 7
September 2010), one new share for approximately every 3.7 existing shares
� Over 90% of Open Offer underwritten by certain Directors and Institutional
Investors
� Directors undertaking to take up entlements in full in respect of their
beneficial holdings
� Provides short term working capital to allow completion of expected
electric vehicle consolidation
� Certain Directors also providing GBP750,000 standby loan facility in the
interim

Jerry Wooding, Deputy Chairman of The Tanfield Group Plc, said:
"The Board believes that this fundraising represents the best solution to
Tanfield's immediate working capital requirements and the high proportion of
underwriting gives us certainty of success of the Open Offer"
"It is imperative that shareholders support this initiative by voting in favour
of the resolution at the General Meeting on 30 September 2010, whether or not
they are planning to take up their entitlement under the Open Offer."
This announcement should be read in conjunction with the full announcement below
and Circular which will be posted to shareholders today and is available on the
Company's website www.tanfieldgroup.com .

Market is silly at times, price yesterday was struggling and today they issue
a well discounted offer and now people are chasing it ?

I thought 13.5p bid was generous, 14.75p is crazy on a 10p offer placing.

sp should "match" the offer - as time draws close to the cut-off date.
However, the issue for me - do I give these Bounders any more money - Will they - up against the outside wall of their local boozer?

sadly thought this one a winner .. out now .. didnt cost too much .. so cant complain