Tanfield’s platform for growth
Aerial work platforms manufacturer Tanfield reported today (1 February) that following the disposal of its Smith Electric Vehicles division to its 49% owned US associate company last month, it has consolidated all its powered access products into the Snorkel brand which had been well received by customers.
It added that although general activity in the construction industry remained low, it was encouraged by positive sentiments emanating from the equipment rental sector, and was therefore cautiously optimistic that stabilisation may evolve into a return to growth in the mid-term.
CEO Darren Kell said: "The return of stability in the aerial lift industry in the second half of 2010 allowed Tanfield to focus on enhancing its Snorkel product range and global sales channels. Entering 2011, Tanfield remains debt-free, with a positive cash balance, a very strong product portfolio in powered access and an excellent international distribution network."
