Walker Greenbank to sell divisions

Changing pattern: Aidan Connolly, financial director (left) and Charles Wightman, chief executive of the wallcoverings and fabrics manufacturer Walker Greenbank, which is to sell its two commercial wallcoverings businesses, Brymor and Muraspec, to Gencorp of the US for in excess of pounds 70m in cash.

Mr Wightman said the sale meant Walker Greenbank would be active only in the consumer wallcovering and furnishing-fabric markets, for which the marketing channels are via retail distributors and interior designers. He said the company was looking at a shortlist of six small UK companies marketing furnishing fabrics, and hoped to acquire three or four of them within the next three years.

The group made a pre-tax profit of pounds 7.96m in 1997, up from pounds 6.95 in 1996.

Photograph: Adrian Dennis