Tanfield could benefit from Smith's IPO

11 November 2011

Smith Electric Vehicles and Altec unveil America's first all-electric, utility truck mounted aerial

Smith Electric Vehicles and Altec unveil America's first all-electric, utility truck mounted aerial platform.

Smith Electric Vehicles US (27% owned by Tanfield) has filed an S-1 registration statement with US Securities and Exchange Commission with a view to a proposed IPO (initial public offering) of shares on the NASDAQ global market.

The shares of common stock to be sold in the offering are proposed to be sold by Smith and by certain of its stockholders, including Tanfield, the parent company of Snorkel. Subject to market conditions, the IPO may include a partial sale by Tanfield of its current shareholding in Smith.

Should the IPO go ahead it would result in a cash injection for Tanfield and Snorkel.

Latest News
Ausa looks to the future with electric machines
OEM plans new machines by 2025
Kaeser shows ‘study’ for electric compressor
Machine produced to generate discussion about electric products
Hochtief subsidiary increases stake in mining services firm
Hochtief’s Australian subsidiary Cimic has increased its stake in mining services company Thiess, in response to the importance of the energy transition.