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21.08.2014

Tanfield values Snorkel at $122 million

Snorkel’s previous owner Tanfield has valued its 49 percent residual holding in the aerial lift manufacturer at $60.1 million.

The estimate, which puts a $122.6 million price tag on the Snorkel business as a whole, is contained within Tanfield’s interim results in which there is just £7,000 of interest revenue but £261,000 pre-tax loss after allowing for staff costs and interest payments on its debt. The company has £257,000 in cash and £2.5 million in receivables to cover ongoing costs.

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