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28 August 2006
ONCOR group subsidiary Technicrete has expanded its concrete block and paving manufacturing operations into the Eastern Cape in a joint venture enterprise with local black business entrepreneurs.
The move, following the establishment of a similar joint venture BEE company in Northwest Province recently, could be the fore-runner of further expansion projects into other provinces, according to Technicrete MD Paul Deppe.
"We have been looking at the Port Elizabeth area for some time, since it is such an important industrial growth point," he says. "We have now made our move through the establishment of a BEE enterprise with people who are in the mainstream of regional business. We expect this development will lead to the creation of new work opportunities in the region."
The new Port Elizabeth-based company, Concor Technicrete Coastal has been formed from the acquisition of the assets of the well-established local company, Coastal Bricks. Technicrete holds a 70% shareholding in the new company, while the 30% balance is held by two prominent local businessmen, Max Boqwana, chairman of the new company, and Sivuyeli Ntabezo, executive director. Deppe, CEO, says Technicrete will be injecting senior management, marketing and technical know-how into the enterprise
Boqwana is chairman of the board of a prominent PE law firm, Boqwana Loon and Connellan, a Law Society councillor, and a member of the United Cricket Board and the Eastern Province Cricket Board. Ntlabezo, also an attorney, who comes to the company with deep experience in property development, is economic development consultant to the Mandela Bay municipality.
Technicrete is focusing its growth strategy within South Africa, Deppe says . and to emphasize the point, he revealed that the company had disposed of its interests in its Maputo subsidiary, Concor Technicrete Mozambique, to local company Wade Adams.