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

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!

Result of General Meeting & Directorate Change


For immediate release 8 March 2012

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

Result of General Meeting & Directorate Change



On 13 February 2012, the Board of Tanfield announced details of a £12m conditional Placing, advising that it had conditionally raised gross proceeds of approximately £12 million by way of a placing of 29,268,293 new ordinary shares of 5p each at a price of 41p per share to institutional and other investors. The net proceeds will remove supply chain bottlenecks and fulfil the growing order book in its Snorkel powered access business. The Admission of 9,407,720 shares issued under existing authorities occurred on 17 February 2012. The issue of the remaining 19,860,573 shares (the "Second Tranche Placing Shares"), was conditional on shareholder approval.

The Company is pleased to announce that the Resolution set out in the notice of General Meeting dated 13 February 2012 was duly passed at the General Meeting of the Company held earlier today.

It is expected that Admission will become effective and dealings in the Second Tranche Placing Shares will commence, at 8.00am on Friday 9 March 2012.

Following Admission of the 19,860,573 Second Tranche Placing Shares, the total shares in issue will be 123,835,511. This figure may be used by Shareholders, from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Terms defined in the Circular published by the Company on 13 February 2012 shall have the same meaning in this announcement unless the context otherwise requires.

The Board of Directors also announces that John Bridge and Jeremy Wooding OBE are stepping down from their roles as Non-Executive Directors with Tanfield, with immediate effect. John Bridge joined the Board in January 2001. Jeremy Wooding joined in June 2009 and was Tanfield's Non-Executive Deputy Chairman.

Darren Kell, Chief Executive of The Tanfield Group Plc, said: "I would like to thank John and Jeremy for their contributions and particularly for their help and advice as we steered the Company through a protracted and difficult recession, and the sale of the Smith Electric Vehicle division. The Tanfield Board, now appropriately sized, will be entirely focused on the future growth and return to profitability of its global Snorkel powered access business."

Back to the future as DeLorean goes electric

Preliminary Results.

Summary

· Recovery in key markets for aerial lifts
· Turnover increased 11% to £48.3m (2010: £43.5m)
· Gross margins increased to 37% (2010: 29%)
· Operating loss before impairments narrowed to £14.99m (2010: £15.83m)
· Order book +296% as of 31 December, at £30.5m (Dec 2010: £7.7m)
· Supply chain challenges a constraint to speed of recovery
· Cash discipline maintained: Net cash at 31 December of £3.5m (2010: £3.6m)
· Successful £12 million institutional placing in March 2012 to invest in growth
· Net cash at 1 April 2012 of £10.3m

Interesting to see the return of a poster on advfn who is a chartist and very good if I may say so. He has bought back in as he feels the Tanfield chart has turned 'fantastically bullish'. He does not particularly believe in the company but studies charts.

I think he/she said "superbly bullish" :-)

the 5 year chart tells a salutary tale

So does a 12 year chart! :-)

Placing, Trading Update and Director's Dealing

21(st) September 2012

Tanfield Group plc

("Tanfield" or the "Company")

Smith Electric Vehicles Corp. announces withdrawal of IPO.

Tanfield, a leading global manufacturer of Powered Access equipment and an investor in Smith Electric Vehicles Corp. (Smith), announces that Smith yesterday announced that it has decided not to pursue its planned initial public offering. The company intends to withdraw its registration statement on Form S-1 as filed with the Securities and Exchange Commission.

"We received significant interest from potential investors, however, we were unable to complete a transaction at a valuation or size that would be in the best interests of our company and its existing shareholders," said Bryan Hansel, Smith's Chief Executive Officer. "We have instead elected to pursue private financing opportunities to support the execution of our business plan."

Tanfield will issue its interim results on the 28(th) September 2012.

"We received significant interest from potential investors".....Clearly nowhere near enough to make the IPO viable. Still fledgling technology, imo.

Toyota drops plan for widespread sales of electric car

TOKYO | Mon Sep 24, 2012 11:17am BST

(Reuters) - Toyota Motor Corp (7203.T) has scrapped plans for widespread sales of a new all-electric minicar, saying it had misread the market and the ability of still-emerging battery technology to meet consumer demands.

Toyota, which had already taken a more conservative view of the market for battery-powered cars than rivals General Motors Co (GM.N) and Nissan Motor Co (7201.T), said it would only sell about 100 battery-powered eQ vehicles in the United States and Japan in an extremely limited release.

Not humming the right tune for Toyota! Battery technology is critical.