Tanfield reports buyer interest in Snorkel business

Washington-based Tanfield Group PLC says negotiations are ongoing with a number of potential buyers for its Snorkel Aerial Work Platform division.

The manufacturer first announced that it was looking for buyers of the division in February and now says a number of interested parties are undertaking due diligence.

Tanfield reports the need for working capital to act on strong market opportunities as the sector recovers and the Snorkel business is currently being managed to conserve cash.

The board says Snorkel’s product range, brand and reputation continue to generate strong demand in the market.

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