Business
Stmnt re Share Price Movement
Stmnt re Share Price Movement.
About this update from Tanfield Group Plc
[{"type":"text","content":"\n Tanfield Group PLC\n14 January 2008\n\n Tanfield Group plc (the 'Company')\n\n Re: Share Price Movement\n\nThe Directors note the recent movement in the Company's share price and confirm\nthat they know of no reason for this.\n\nDecember was a record month for Tanfield in terms of order intake and the order\nbook is ahead of management's expectations. The Company is enjoying a strong\nstart to 2008, with production capacity and output also ahead of plan.\n\nZero Emission Vehicles Division\n\nThe order book for the Zero Emission Vehicles (ZEV) division, including Smith\nElectric Vehicles, is extremely healthy and the Directors reiterate their\nconfirmation that trading is in line with expectations. Production capacity has\nramped up to 30 units per week, as planned, and the Company is pleased to report\nthat firm orders have already been received for a significant proportion of the\nmarket forecast production for electric vehicles for the year.\n\nThe Company did not experience any execution problems in increasing ZEV\nproduction capacity from 10 to 30 vehicles per week and the Directors are,\ntherefore, confident that further capacity growth is achievable due to the\nscalable production methodology now developed. The Directors remain confident\nthat the Company's supply chain will grow to meet this capacity. This rise\nmirrors the successful ramp up of UpRight Powered Access delivered in 2007, when\nthe Company, and its supply chain, grew production at Vigo Centre from 20 aerial\nwork platforms per week to 200 per week.\n\nTanfield has now developed and validated lithium-ion phosphate battery packs\nfrom a number of suppliers, providing the strong supply chain base required to\nmeet growing customer demand for road-going commercial electric vehicles. This\nnew generation technology is proving extremely reliable and robust and the\nDirectors believe that the added flexibility in terms of how it is packaged on\nthe chassis will open an even broader market for the Company's vehicles.\n\nPowered Access Division\n\nThe traditional buying season for aerial work platforms is underway in North\nAmerica and sales are brisk. Order intake for Snorkel is significantly ahead of\nthe orders booked in the comparable period last year. The Directors are pleased\nto report that the January order book is the highest it has been for the past\nfo...