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

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.

Smith Filing of S1

Smith Electric Vehicles Corp. ("Smith") filed Form S-1 registration statement with the U.S. Securities
and Exchange Commission ("SEC") with respect to a proposed Initial Public Offering on The NASDAQ Global Market

May include partial sale by Tanfield of its current Smith shareholding

On a run - currently up 24.8% 32%

indeed! :-)

From EK at T1ps.com:
"I also pass on the following comments on Tanfield Group (TAN): "Tanfield has a book value c38m (c.8m is cash). The market capitalisation at 48p is c. 43m and they have a 27% holding of Smith Electronic Vehicles which has just issued its prospectus to list imminently on Nasdaq with UBS and Merrill as co-bookrunners. So, effectively, Tanfield is pretty much a free option on the IPO where the mooted valuation is $500-1bln. At $500m that works out to be 96p per share and at $1bn its 177p for Tanfield. To put this in perspective, Tesla, the electric sports car manufacturer, is valued at $3.5bln and where losses are currently of the order of $220+m p.a.." On this basis Tanfield is ridiculously cheap at under 80p and, on a technical basis, it is clear that Tanfield has broken upwards. It ain't coming back."

Officials to unveil incentives for zero-emission trucks as Smith Electric Vehicles announces Bronx factory

Exclusive: $10 million program comes as electric truck manufacturer plans $5 million plant in Port Morris

BY Daniel Beekman
NEW YORK DAILY NEWS

Originally Published: Tuesday, November 15 2011, 6:00 AM





Gov. Cuomo wants the Empire State to keep on trucking - and do it clean and green.

Zero-emission trucks sold in New York will now come with $20,000 checks from the Feds via the state, thanks to a new incentive program designed to improve air quality and the environment.

State officials will unveil the program on Tuesday in the Bronx and leading electric truck manufacturer Smith Electric Vehicles will confirm plans to build a $5 million factory in the borough.

The $10 million incentive program -- still being developed -- is funded by the federal Department of Transportation, modeled on an existing California program and makes New York a national leader in green trucking, said Bryan Hansel, CEO of Smith.

Smith will announce on Tuesday plans to renovate a 90,000-square foot warehouse in Port Morris and create more than 100 jobs over seven years.

California has always been out front when it comes to the environment, Hansel told the Daily News. Now New York is showing leadership.

The incentive program will mark down the cost of 500 vehicles per year, covering commercial vehicles that weigh at least 10,000 pounds, Hansel said.

Smith will receive millions in benefits from the city and state to pay for the Bronx factory, including $3.4 million from the Empire State Development Corp., $1.5 million from the state Energy Research and Development Authority and $1.7 million from the city Industrial Devbelopment Agency.

Under Gov. Cuomos leadership, we are creating a better business environment that will result in more jobs for New Yorkers, said Empire State Development CEO Kenneth Adams. "This project represents another key building block in the foundation of a stronger economy.

But Hansel said the incentive plan -- funded through the federal Congestion Mitigation and Air Quality Improvement program -- is what led the Kansas City, MO-based company to choose New York over Washington, D.C. and Atlanta.

We needed to know that there was going be local demand for our product, he said, claiming the state vouchers will encourage New York firms to go green and make the switch to electric trucks.

The Bronx made sense for Smith because the borough is home to the Hunts Point food distribution center, with more than 1 million truck trips per year.

We want to be where the trucks are, said Hansel. The Bronx is where our customers are located and Manhattan is where a lot of trucks are deployed...We believe the market is ready.

Smith builds zero-emission delivery trucks for customers such as Coca-Cola, Frito-Lay, Staples and the Marine Corps.

It inked a deal in September with drugstore chain Duane Reade and will partner with upstate New York firm Trans Tech Bus to build electric school buses.

Smith will start rehabbing the shuttered lamp warehouse next November and open its new factory in late 2013 or early 2014. It has vowed to pay its New York workers $46,372 per year on average.

The factory will be the companys second in the U.S.

Hansel said Smith has made no hard and fast commitment to hiring workers from the Bronx. But the company has hired locally in Kansas City, he said. The Bronx boasts an unemployment rate of 12%, the highest in the state.

Smith filed for a $125 million initial public offering last week.

dbeekman@nydailynews.com


See also: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69001779
"..Smith have long stated that they want a west coast facility sooner rather than later. Officials they've been in discussion with in various parts of California will quite likely be miffed at news that New York has stolen a march on them. But the timetable for the New York facility is distant enough for California to still come in with a declaration of financial support for Smith, and for that facility to actually become operational before the New York one. I think this New York publicity may well spur the Californians into action. In which case we may get to hear of Smith's west coast plans before the ipo happens, boosting investor enthusiasm.

MT - are you still in these?


On edit - I see from over the road, that you are :-)

In auction +9.4&

On edit and out of auction!