14.01.2008

Tanfield defends share price

Tanfield, owner of UpRight, Snorkel and Smith Electric vehicles has issued stock exchange bulletin stating that it knows of no reason for the recent move in the price of its shares which has dropped by over 25 percent in the past two weeks.

The statement says that order in take in December was at record levels for its electric vehicles and that the January order book for Snorkel is at a four year high with a six month backlog.

At the same time its electric vehicle group has ramped up production to 30 units a week.