Tanfield Share Discussion Threads

[multiplural] 20/11/2017 11:29

You are wrong in assuming that Ahern can buy the rest of Snorkel for 36M now via the agreement.
The 36M is what the 49% is booked at. Should the trigger event happen, which is highly unlikely, the full price would be well over 40p per share.
Apart from this , it is obviously highly unsatisfactory that Tanfield don't have full insight in Snorkels economy.
With Snorkel doing very well, and with Ahern's rental business doing extremely well, I still find it likely that we will see a buy offer from Ahern at a minumum price around the book value.

[donemyhomework2] 20/11/2017 07:57

Have they said anything new?

[vauch] 17/11/2017 07:05

did teslar buy the smiths truck factory in California on the cheep

[multiplural] 22/10/2017 14:14

Ahern Canada now open:


See the text to the picture from the website " Ahern (centre) the current owner of Snorkel .." they seem to forget he only owns 51%

[donemyhomework2] 20/10/2017 12:48

Somehow i dont think so.

[a2584728] 19/10/2017 11:26

Snorkel looking like to complete anytime soon at 31p ?

[tradejunkie2] 25/9/2017 14:16

This still going? Could have made it with the battery tech but now a duck of a company.

[multiplural] 15/9/2017 16:15

I love this interview piece from 2014 with Ahern :
RM: If you look at Snorkel, it was on its own, then it was purchased by the Tanfield Group. Recently it seemed like the resources weren’t available to get the company to the next level.

Ahern: Snorkel was nearly out of cash. We bought Snorkel by bringing in excess of $35 million in credit to the company. It was simply a trade of 51 percent of the company for bringing the capital to the business. In addition to the capital was a note for as much as $50 million. Tanfield Group will get its money for the other 49 percent of Snorkel when I buy it, plus the note. They are doing a fabulous job of supporting this organization to this day. They are doing everything they can to make this a winning proposition and they should be out of the company within three years.

[jam2day] 06/9/2017 07:43

Strange that - one would have thought that market would have been covered by "Extreme"
Another sign that he is incorporating both names?

[grabster] 30/8/2017 13:22

BSS is a subsidiary of UK nationwide builders merchant Travis Perkins.


UK-based BSS Industrial has added to its fleet with 30 Snorkel S3010P push-around scissor lifts.
The units deliver a working height of up to 5m, can lift up to 240kg and weigh 370kg.

BSS Industrial is a specialist division of Travis Perkins and operates rental desks at each of its 60 branches across the UK. It became part of the contract merchanting division of Travis Perkins in 2010.

Following the order, Steve Day, divisional hire director – contracting merchanting division, said, “Low level access is a new product line for BSS. It was Linda Betts at Snorkel UK who introduced us to the Snorkel S3010P.

“The compact size and low weight of the Snorkel S3010P suits our customer base extremely well, and is very easy to operate and maintain. We were very impressed with the demonstration of the lift and it performed well during our trial.”

Day added that the units were now deployed across its depots, and refused to rule out purchasing more models from Snorkel in the future.

Meanwhile, Andrew Fishburn, managing director, Snorkel UK, said, “The Snorkel S3010P is particularly well-suited to businesses like BSS Industrial, who are hiring equipment to their trade customers from their depots.

“The products are both easy to operate, and easy to service and maintain, ensuring a good return on investment.”

[multiplural] 28/8/2017 21:03

It is a very sad background, but I feel confident that hurricane Harvey will lead to extreme demand for products like Snorkel's .

[donemyhomework2] 24/8/2017 12:03

So if they made $1.5m in 6 mths ie $3m for the year what chance do they have to exceed $25m EBITDA for the year to September 2018?

[jam2day] 24/8/2017 07:10

Another kick in the teeth re Smith electric vehicle missed opportunity.

[donemyhomework2] 23/8/2017 10:50

HSBC and Chase Nominees have 30% and 14% and Zoar and OTK 11% each making 66% by these four entities although the first two could have many underlying shareholders.I still wonder what will be the end of this if anything at all.

[kibtf] 21/8/2017 06:54

If as the RNS suggests, despite owning 49%, they don't have a board seat at the JV level or a contractual right under the shareholders agreement to information allowing a breakdown of production per plant then the board has been grossly negligent. If they cant tell that, then they almost certainly cant tell how the "joint" costs are allocated between Ahern and Tan to see if this is fair, or how the revenue and profit are being allocated between Ahern as buyer and Tan as seller of products manufactured by the JV and sold to Ahern. Essentially they are admitting that through Tan's board incompetence Ahern has Tan by the balls. If Ahern has that much control then since they consolidate the JV's figures into their group accounts as majority shareholder anyway, with a small expense item for Tans profit or loss share as the minority, why would he ever do anything than run the clock out and keep Tan locked in. A complete shambles in other words- although given their history why would shareholders think anything would change in that regard!

[donemyhomework2] 21/8/2017 06:27

Not clear what they are reporting since most related to 1 June previously reported.

[tradejunkie2] 17/8/2017 17:28

SarahBudd, Still married to Uncle Arthur?

[sarahbudd] 16/8/2017 14:17

When are they going to buy our shares?

[multiplural] 16/8/2017 10:14

Huge order in Turkey. I hope we are in for a good update soon on Snorkel.