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ZERO-EMISSION vehicle maker Tanfield said it had postponed expansion plans in both the North-East and US amid tight trading conditions, and admitted the company could be forced to make redundancies.

The company said it has been forced to re-think its aggressive expansion plans as a result of the current economic climate, and will now pursue a "more prudent and conservative" strategy.

Although the firm stressed it still expects to see growth during 2008, albeit at a more modest rate, it brings to a halt Tanfield's stellar rise of the past few years, which has seen it become one of the most prominent electric vehicle and upright platform manufacturers in the world.

Revealing its new strategy, Tanfield said plans for a new facility in the North-East - which was due to open at an undisclosed location within the coming months, and was set to create an immediate 300 new jobs, rising to a possible 1,000 - have now been postponed. The decision will be reviewed on a continuous basis, with the firm's base in Washington said to have the capacity to meet demand for the next 18 months.

Last week, the company revealed it could make up to 30 redundancies at its engineering services base in Tanfield Lea, after a downturn in orders, and later said that other reductions in headcount are being considered.

A spokesman said he could not comment on potential numbers of job losses, or if Tanfield's flagship Vigo Centre operation would be affected.

The company also said it had abandoned plans to open two new £15m factories in the US.

1:47pm Friday 4th July 2008

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