Concor in new BEE venture

20 April 2005

 

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Joint VentureISTED construction and manufacturing group Concor Holdings has entered into a BEE joint venture with Royal Bafokeng Finance in a move designed to secure increased market penetration in the mining and commercial building sectors.

As part of the venture, Concor Technicrete, a division of Concor Holdings, and concrete products manufacturer Bafokeng Brick & Tile have merged their Rustenburg and Northam concrete products operations. The result is the formation of a new company, Bafokeng Technicrete, in which an associate of Royal Bafokeng Finance will hold 51% of shares and Concor Holdings the remaining 49%.

"There will be an immediate injection of new managerial, technical and manufacturing expertise into Bafokeng Technicrete," says Paul Deppe, Concor director and CEO of the new company. "We aim to make it a carbon copy of other Technicrete operations - and as successful. This is a synergistic pooling of resources of great benefit to both parties."

"This is a win-win situation for both sides," commented Tshepo Kgage, a representative of Royal Bafokeng Finance and a director of the new company. "Most importantly, there will be no job-losses resulting from the move. Indeed the opposite is happening. Technicrete will be injecting new managerial and technical know-how which will provide valuable skills development opportunities for the 120 Royal Bafokeng Brick & Tile employees."

Bafokeng Technicrete will be involved in the manufacture and sale of concrete pavers, masonry, roof tiles, ready-mix, wet-cast concrete and pre-mix bag products.