GenCorp Completes Sale of Residential Wallcovering Business
14 December 1998
GenCorp Completes Sale of Residential Wallcovering Business
Focus is on growth of commercial wallcovering business
FAIRLAWN, Ohio, Dec. 14 -- In another of several recent
strategic actions, GenCorp announced today that it's Decorative &
Building Products division has sold its residential wallcovering business to
Blue Mountain Wallcoverings Inc. of Mississauga, Ontario, Canada. "The
divestiture of our residential wallcovering operations is an excellent
opportunity for both GenCorp and Blue Mountain," said Kevin McMullen,
President, Decorative & Building Products. "It is consistent with our
strategy to focus more aggressively on commercial wallcovering which is one of
our key core businesses within Decorative & Building Products, and one of
GenCorp's strongest and fastest growing businesses. At the same time, it
allows Blue Mountain to expand its presence in residential wallcovering
markets."
GenCorp, while widely recognized for popular residential wallcovering
brands, has remained a minor player in this market while concentrating instead
on the growth of its commercial wallcovering operations. Blue Mountain will
now manufacture and market these residential brands, working closely with
GenCorp to ensure a smooth and seamless transition for customers.
GenCorp has made significant strides to grow the commercial side of the
business in recent years. This past August, GenCorp's Decorative & Building
Products unit gained worldwide leadership in commercial wallcovering, as well
as key European distribution platforms with the acquisition of Walker
Greenbank's UK-based Brymor and Muraspec commercial wallcovering operations.
Blue Mountain is a privately held contract printer in the residential
wallcovering industry, well known for its high quality printing capability.
GenCorp is a technology-based manufacturer with leading positions in
numerous polymer product markets, as well as in the automotive and aerospace
and defense industries.