Orders soar as Tanfield aims to create 300 jobs
Feb 25 2008 by Iain Laing, The Journal
ELECTRIC vehicle maker Tanfield is confident of creating 300 jobs this year at a new North East factory because of soaring orders globally.
Tanfield chairman Roy Stanley is in final negotiations with regional development agency One NorthEast for a £1m-plus grant which he says will guarantee the creation of the factory, which will need 300 staff immediately but have room for 500.
He plans to invest up to £10m in the plant, the latest expansion of the fast-growing Washington-based business which already has 1,300 staff, half of which are in the North East.
Stanley said the grant talks for the new plant were “very positive” and was confident it would be built this year. It will be the new base for the vehicle making side of Tanfield with the current headquarters continuing to be home for its electric platform, boom and mast manufacture.
“We are now the world leaders in making electric vehicles and that demand is growing very strongly. The new plant will serve the markets in mainland Europe, but the way we are going now we will need more space in another three years.,” he said.
“Part of the demand for these vehicles is the economics and part of it is down to the number of environmental laws coming in. Companies want cheap vehicles which do not make pollution.
“I expect to see the plant being built in the North East, but obviously I can’t commit until we know whether One NorthEast is able to provide assistance. They have been very positive.”
Stanley founded Tanfield in 1996 and floated it on AIM in 2003. It now has plants in US and New Zealand as well as Washington and with estimated annual sales of £100m and a market capitalisation of more than £500m.
Stanley said: “I always wanted to have 1,000 staff in the region and hopefully I now will. I genuinely believe I couldn’t have done this anywhere else in the world. There are some fantastically talented people here. There is such energy and the attitude of people is great”
Today he floats another company, Darwen, on the AIM. He bought the Blackburn company formerly known as East Lancashire Coachbuilders out of administration in the summer.
He has laid off 100 of its 350 staff and doubled production. He is floating it the company with a market capitalisation of £15m and plans rapid organic and acquisitive expansion.
He had considered bringing the company to the North East but managed instead to turn business around on the existing site.
