Member Article

Tanfield looks to overseas markets

The Tanfield Group is targeting overseas markets after signing a deal to expand its cherry-picker aerial platform business.

The company, which is based in Washington, Wearside, completed a £9.4m disposal of the Smith Electric Vehicles division to Smith Electric Vehicles US (Sevus) Corporation on January 1.

Tanfield, which retains a 49 per cent stake in Sevus, recently signed a deal with Pop-Up Products, based in Wales, which manufactured a range of lightweight push-around lifts.

It has taken over the design and production of Pop-Up, so the lifts are now engineered and built in the North-East, creating and sustaining about ten jobs in the region.

Tanfield is reportedly looking to export Pop-Up worldwide, with an initial focus on the US.

In a trading update, Tanfield chief executive Darren Kell said the return of stability in the aerial lift industry in the second half of last year had allowed Tanfield to focus on enhancing its cherry-picker product range and identify export opportunities.

The company’s net cash stood at £3.6m at the end of December, compared to £2.2m on June 30. Tanfield will publish its full results in April.

This was posted in Bdaily's Members' News section by Ruth Mitchell .