Few names have been as well-known in the ever-changing engineering and construction industries of South Africa as Murray & Roberts. This business, which was founded in 1902, has been essential to the development of infrastructure. Nonetheless, the organization has undergone substantial changes as a result of recent strategy changes, including the renaming and rebranding of some divisions.
The Emergence of Concor
A pivotal change occurred in May 2017 when Murray & Roberts sold its Southern African Infrastructure & Building businesses to a black-owned consortium led by the Southern Palace Group. This move was part of a broader strategy to focus on specific market sectors. Following the acquisition, the construction division was rebranded as Concor. With roots tracing back to 1902, Concor has built upon its rich heritage to become a leading black-owned infrastructure and building company in South Africa. The company boasts a Level 1 BEE certification, emphasizing its commitment to transformation and empowerment within the industry.
Murray & Roberts’ Strategic Repositioning
Concurrently, Murray & Roberts embarked on a strategic repositioning to concentrate on the natural resources market sectors, which offer greater long-term growth potential. This shift included the disposal of non-core assets and a redefinition of its business platforms to better align with its focus areas. By 2020, the company had restructured its platforms as follows:
- Energy, Resources & Infrastructure: Formerly known as the Oil & Gas platform, this division was renamed to reflect its broader market focus.
- Power, Industrial & Water: Previously the Power & Water platform, this segment expanded its scope to include industrial sectors.
- Mining: The Underground Mining platform was simplified to Mining, indicating its comprehensive service offering in both underground and surface mining operations.
These changes were designed to mitigate market cyclicality and position Murray & Roberts as a specialist contractor in targeted sectors.
Conclusion
The rebranding of Murray & Roberts’ construction division to Concor marks a significant milestone in South Africa’s construction industry, symbolizing a commitment to transformation and empowerment. Meanwhile, Murray & Roberts’ strategic realignment underscores its dedication to focusing on sectors with sustainable growth prospects. These developments reflect the evolving nature of the industry and the importance of adaptability in maintaining relevance and competitiveness.