11.01.2007

Tanfield trading statement

The Vigo Centre - UpRight Powered Access’ new UK production facility – produced more than 50 units for the first time last week. The centre is now fully operational with the transfer of UpRight machine assembly from Dublin now complete.

Parent company Tanfield says that it expects to produce 100 units per week by the end of February – well ahead of the original target date. It also says that this figure will continue to increase during 2007.

The company also said that it is pleased with sales figures, helped by another order last week for 120 machines worth in excess of €1 million from Scandinavia.

Darren Kell, chief executive of The Tanfield Group said: 'UpRight powered access production is now fully transitioned and de-risked. We are ahead of schedule to further significantly ramp up volume output of UpRight Powered Access products.

"The take-up in these markets has surpassed our initial expectations and reinforces our view on the worldwide level of brand loyalty for UpRight products. We anticipate that the re-launch of UpRight in North America next month will elicit a similarly strong response".