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

A few days out with their guess. Still looking for some detailed analysis of this latest merger deal.

On two other forums, mention of potentially $3000 million per year in sales of Smith Electric vehicles, based on this extrapolation -

At Tanfield's UK facility, while sharing floorspace with the platforms division, Smith were able to produce 30 vehicles per week. If the existing US facility can do the same, and if the proposed other 19 US facilities can also do that, that's 600 trucks per week, for 50 weeks a year that's 30,000 per year. By then they will probably cheaper than now, but at the current price of around $100k each, that's $3,000 million a year in sales.

How might this projection influence the level of funding obtained in the intended floatation on Nasdaq?

Now that Smith Electric vehicles is an American company, and there's talk of it soon being floated on the US stockmarket, we might reasonably assume the US boss can plough on with building publicity in advance of the ipo. He is doing a radio interview today at 12:30pm local time (Kansas City) on a 'green radio' slot hosted by Gary Walker. The trailer suggests he will be talking about expansion plans.

Perhaps not relevant to TAN these days, but this is quite interesting. Apparently he averaged 6 mph.

replayable RADIO INTERVIEW LINK
http://www.zshare.net/audio/8530124592d04630

The one-hour interview with Smith ceo Bryan Hansel.


(it was prerecorded, not live)

US bulletin board message re Smith imminent ipo

If this is true, and not some very professional hoax edit, TAN price might be expected to jump on Monday morning article /video

(TAN currently owns a 49% stake in Smith)

SEV has General Electric working with them and GM, Ford, Toyota, Navistar, Mitsubishi, Coda, Smart, THINK and other organizations. GE are hosting an electric vehicle experience tour in seven U.S. cities over the next 2/3 weeks that will bring GE experts together with local businesses, industry leaders, and public sector stakeholders for educational workshops, test drives, and dialogue on the business case for EV ecosystems.

Full article here:-
http://uk.ibtimes.com/articles/119132/20110305/ge-electric-vehicles.htm

7 March 2011

TANFIELD GROUP PLC ("Tanfield" or the "Company")

Smith Electric Vehicles US - Form D Filing

The Board of Tanfield announces that its associate company, Smith Electric Vehicles US, filed with the SEC on 4 March 2011 a Form D notice for a private placement of US$53,150,000 of which US$20,204,082 has been sold to date.

A copy of the Form D notice can be found at www.sec.gov/Archives/edgar/data/1455900/000145590011000001/xslFormDX01/primary_doc.xml

and a further announcement will be made in due course.

Smith Electric Vehicles

It took a bit of government pump-priming cash to get Smith Electric Vehicles up and running at their site in Kansas City, Missouri. But it worked. Though the plan was instigated by a UK company (Tanfield Group) initially as an offshoot of their long-established UK/European electric trucks/vans business (they've been making them there since 1920). The KC facility is now shipping out ten trucks a week, the first few hundred already on the streets and it looks like they'll have built over a thousand there this year. The company reckons to be into profit after the first 400 trucks and have now passed that mark. These are biggish trucks - carrying 26,000lbs. PepsiCo's Frito-Lay division have bought 176, Staples have so far bought nearly a hundred. CocCola, Pacific Electric, and a host of other well known companies have placed orders for delivery this year.

It's not yet possible to buy into Smith Electric (unless you are a big private player with half a million dollars minimum to spare) but they intend listing on the Nasdaq stockmarket later this year. The date for their proposed ipo should be announced soon. If you have access to the UK (London) stockmarket you can buy shares in Tanfield Group (LSE:TAN). They own about a third of the stock in Smith Electric, and the Tanfield price is currently rising strongly in anticipation of the Nasdaq ipo, which will be the biggest electric vehicles ipo since Tesla.

Smith plan to replicate their KC production facility in 20 states. The next location (widely expected to be somewhere in California) is apparently to be announced in the next few weeks. The company is on target to produce and sell 100,000 of its electric trucks within 4 years

Source: favstocks forum

Snorkel aims to expand production at its Chinese facility over the next 12 months. The company, which initially outsourced its Chinese manufacturing to local player Dingli, has been producing in China since October 2008 and is now making TM12s and several UL models at its own facility in Jintan, Jiangsu province...

...The facility provides 5800 m2 of production space; "We intend to expand it,"


Click here for full report
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Strong today. 7% up so far. Doesn't always hang onto its rises but anywhere at/above 40p by end of day will do for me.

In auction.

Up 15.5% today on reasonable volume.

Share price up 36% last week - prompted company to put out an RNS announcement just before market close last Friday.

It is a little ambiguous. It could mean that Smith Electric Vehicles is raising more money from private US investors (they willingly and quickly stumped up $58m in 24 hours last March) - or it could be that Smith's long awaited floatation on the Nasdaq stockmarket is imminent - and the share price rise was due to expectation that TAN's price will jump high when that happens. Assuming TAN maintains a substantial stake in Smith (currently 32.2%). Goldman Sachs are known to have been sounding out market enthusiasm for a Smith ipo months - and were hinting at it being bigger than Tesla.

Reliable informants on other BBs have noted that all Smith signs at Tanfield's Vigo works have been removed - and several new signs are up but are under taped wrappings. Are we about to see an unveiling?

For sale ? :-)

Interim Results.

The Tanfield Group Plc, a leading manufacturer of aerial work platforms, announces its unaudited interim results for the six month period ended 30 June 2011.

Global aerial lift market recovering

Turnover increased to 24.6m (H1 2010: 19.6m / H2 2010: 23.8m)

Operating losses reduced to 7.0m (H1 2010: Operating loss: 7.7m / H2 2010
Operating loss: 8.1m)

Net cash at 30 June of 4.7m (31 December 2010: 3.6m)


Order book at 30 June of 20.9m (31 December 2010: 7.7m)

Supply chain capabilities limiting rate of growth

TANFIELD GROUP PLC
("Tanfield" or the "Company")

New fundraising round at Smith Electric Vehicles Corp.

The Board of Tanfield is pleased to announce that its US associated company, Smith Electric Vehicles Corp. ("Smith"), has filed a Form D with the U.S. Securities and Exchange Commission announcing a private placing of $30 million of new convertible notes and warrants (the "Placing").

As part of the Placing, Tanfield converted $1.99 million of deferred consideration related to Smith's acquisition of the Smith Electric Vehicles business earlier this year into a convertible note (the "Note") and warrant. The Note will convert into a new class of preferred equity securities in Smith following the completion of the Placing and Smith obtaining necessary approvals, which is expected to be in the fourth quarter of 2011. Following the Placing and the conversion of the Note, the Company will hold 5,258,814 ordinary shares in Smith representing, on a fully diluted basis, approximately 27.23 per cent of the enlarged ordinary share capital of Smith.

The net proceeds of the Placing will be used to fund Smith's ongoing working capital and development requirements and to pay Tanfield deferred consideration, plus accrued interest, of approximately $5.6 million.

The funds received by Tanfield will be used to finance the ongoing development of the Company's Snorkel Powered Access business.

Conversion of new fundraising round at Smith Electric Vehicles Corp.

Further to its announcement of 24 October 2011, the Board of Tanfield is pleased to announce that its US associated company, Smith Electric Vehicles Corp. ("Smith"), has obtained the necessary approvals, and has established a new class of preferred equity securities to be issued upon the conversion of its previously placed convertible notes. Effective on 3 November 2011, the Company's convertible note converted into shares of these preferred equity securities.

Following the conversion, the Company now holds 5,259,192 ordinary shares in Smith representing, on a fully diluted basis, approximately 27.22 per cent of the enlarged ordinary share capital of Smith.