Tanfield Group PLC
12 September 2006
Tanfield Group plc
('Tanfield' or the 'Company')
Notification of Interim Results and Trading Update
Tanfield will announce its interim results for the six months ending June 30th
2006 on Monday September 25th, 2006.
The Company is also pleased to give a further trading update on recent successes
for the Group's two key brands, UpRight Powered Access and Smith Electric
Vehicles.
UpRight Powered Access
The Board is delighted to announce that global UpRight sales orders in the past
week totalled more than £1 million for the first time since it was acquired by
Tanfield.
This follows on the recent success of UpRight Powered Access at a provincial
German trade show, where the Company secured significant orders for
approximately 100 machines, with a gross sales value of around £1.5 million.
The order book remains extremely buoyant. Despite doubling UpRight machine
production since the acquisition, order intake continues to outstrip product
output.
The Group is making good progress in its transferral of UpRight machine assembly
from Ireland to a 250,000sq ft flagship manufacturing facility near Newcastle
upon Tyne, with the first assembly line presently being installed. The Company
expects to ship the first products from this assembly line by the end of
September 2006.
Smith Electric Vehicles
Enquiry levels for Smith Electric Vehicles' new technology products are at an
all-time high and the order book remains buoyant. The Company is presently in
negotiations with most large fleet operators.
The Board of Directors is pleased to announce that it has also agreed terms in
principle with a government body, which will fund a significantly sized fleet of
demonstration vehicles. This fleet will be used to demonstrate the viability of
electric vehicles in UK city centres and promote their use to commercial fleet
operators, as a tool for positive impact on carbon dioxide emissions.
Smith Electrical Vehicles will officially unveil Newton, a new technology
electric 7.5t delivery truck at the Courier and Parcel Despatch Expo 2006 in
Amsterdam in October. This is the first of two vehicles built for global parcel
delivery and logistics company TNT.
This will be followed by the launch of Edison, a new zero emission van.
Commenting on these achievements Roy Stanley, Chairman of Tanfield, said:
'The continued increase in order intake for UpRight is further endorsement of
our strategy to grow our global distributor network.
The Group's global network of independent dealers for powered access products
has risen from 45 at the start of 2006, to more than 140.
This growth demonstrates that the market's confidence in UpRight Powered Access
continues to return.
We are delighted with the continued high level of interest in our electric
vehicles and anticipate that both Newton and Edison will be extremely well
received by the fleet market.'
Enquiries:
Roy Stanley, Group Executive
Tanfield Group plc Tel: 01207 521111
Marc Young
Daniel Stewart & Co plc Tel: 020 7776 6550
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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