Business
Re US Joint Venture partner a
Re US Joint Venture partner a.
About this update from Tanfield Group Plc
[{"type":"text","content":"\n RNS Number : 6629P Tanfield Group PLC 27 March 2009 \n \nTanfield Group plc ('Tanfield' or 'the Company')\n\n \n27 March 2009\n\n \nRe US Joint Venture partner announcement\n\n \nTanfield announces that its Joint Venture partner, Smith Electric Vehicles U.S. Corporation (SEV U.S. Corp), is today announcing plans to locate its new assembly plant for the manufacture of all-electric zero emission vehicles in Kansas City, US. Production of the first vehicles is scheduled to begin in quarter 3, 2009. \nThe decision to locate the plant in Kansas City would represent an initial investment of $10 million by SEV U.S. Corp. In addition SEV U.S. Corp expects to receive close to $3 million in job training funds and other incentives from the state of Missouri and Kansas City.\nTanfield Group plc announced on 6 February 2009 that it had signed Heads of Terms with SEV U.S. Corp to licence Intellectual Property Rights, brand and all existing sales and sales enquiries in North America, in exchange for a 49% equity stake in SEV US Corp and per-vehicle royalties.'\n \n\n\n\n\n\nThe Tanfield Group Plc \n\n\n+44 (0)845 1557 755\n\n\n\n\nDarren Kell, CEO\n\n\n \n\n\n\n\nCharles Brooks, FD\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nArbuthnot Securities\n\n\n+44(0)20 7012 2000\n\n\n\n\nNomad and Broker\n\n\n \n\n\n\n\nJames Steel/ Katie Shelton \n\n\n \n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END JVEPUUQUWUPBGRM \n ","length":7314,"tagName":"div"}]