“The tapes market is growing at 5- 7 per cent a year and is worth $5bn. Mr Dunn said that sterling continued at current levels it would hit the full year by pounds 3.2m.Mr Dunn said that he would like to sell more of the group’s products – which include roller covers to the paper industry and specialised industrial tape – in the UK, but that markets were not available.”Manufacturing industry has been decimated in this country over the last few years. The UK is no longer a manufacturing force in the world,” he said.Mr Dunn added that the company did not rule out a dual listing in the US “It is something we are thinking of in the longer term. It would broaden our investor base.”Mr Dunn’s broadside follow similar comments from Peter Rowley, chairman at high-tech plastics group Victrex, which has been badly affected by the strong pound and which sells 97 per cent products abroad.Profits at the technical tapes business rose from pounds 25.3m to pounds 30.2m, on sales up 4 per cent to pounds 273m. Mr Dunn said that he wanted to become a “worthy number two” to tapes business 3M, by doubling sales in three years.An acquisition is likely this year. The statement came as Scapa reported that the strong pound had held back full year profits.
The group, which makes more than 80 per cent of its sales overseas, said that adverse currency effects had shaved pounds 1.7m from pre-tax profits for the year to March which rose 7 per cent to pounds 66.5m.Sales were flat at pounds 527m.

David Dunn chief executive of Scapa, the paper rollers to industrial tape group, yesterday launched a stinging attack on the state of British manufacturing industry and said the company was considering a dual listing in the US. The company also passed on the dividend.Inspirations is Britain’s third largest quoted package holiday company after Airtours and First Choice. In February it said its winter passenger volumes had increased by 12 per cent while the retail division was substantially ahead of the same period last year.. The problems arose at its Caledonian Airlines subsidiary, which left holidaymakers stranded at airports. The second came the following month when it said the cost could push it into a loss of pounds 13m for the year compared with a profit of pounds 7.7m the year before. The largest individual shareholder is the company’s founder and chief executive, Vic Fatar, who owns 3.3 million shares in the company These would be worth pounds 2m at the current share price.

Paul Jackson, the finance director, owns 2.7 million shares, which would be worth pounds 1.6m.Inspirations was founded by Mr Fatar, who had also founded Sunmed Holidays which was later re-named Redwing Holidays It floated on the USM market at 100p in 1993. After a period of drift they rose to a high of 150p last September but were devastated by two profits warnings in six weeks.The first came in October when the company said peak-season flight delay could cost it up to pounds 10m. “Does Carlson want to challenge First Choice for the number three position in the market?” he asked.The deal would value Inspirations at around pounds 25m. It would provide a windfall for company’s management, who own around 40 per cent of the shares.

However, Bruce Jones of Merrill Lynch said Carlson could use its financial clout to expand Inspirations operations. They said June was an unusual time for a holiday company to consider a cut-price deal as the industry’s finances are usually at their most robust at this time of year. The cash for summer holiday bookings has been banked while payments to hotels and other expenses have yet to be made in full. The timing of the deal would appear to suggest that Inspirations’ finances are in a poorer state than previously thought.Analysts said the proposed price of the deal would be a disappointment to shareholders. Carlson already owns the AT Mays travel agency chain and analysts said a bid for Inspirations would provide the US group with a foothold in the UK tour operation sector.
Inspirations said the talks had been going on “for some time” with market sources giving three months as the timeframe. However, it said the offer was unlikely to be made above the market price, which closed a penny higher at 80p yesterday. The shares were as high as 90.5p earlier in the day.Some City analysts said the bid price could be as low as 60p per share.