FBR Singed MOU To Establish A Joint Venture With Brickworks – Stock Price In Green Zone On ASX


FBR Ltd (ASX: FBR) focuses on mobile robotic technology for brick and block construction industry. The company has developed construction robot Hadrian 105 which builds block structure using 3D CAD model without any human interventions. The company is in the partnership with Caterpillar and GP Vivienda for Hadrian X.

On 5 February 2019, the company has announced that the group has signed a Memorandum of Understanding (MOU) with Brickworks Building Products Pty Ltd, a wholly owned subsidiary of Brickworks Limited, Australia’s leading supplier of building products. 

The agreement has key terms on which the companies propose to operate a special purpose equal partnership joint venture company, for three years under a shareholder’s agreement which is contemplated to be negotiated between the parties, to provide Wall as a Service™ to the residential building and construction sector.

The joint venture company will primarily demonstrate the building capabilities of the Hadrian X and to prove the WaaS™ business model in Australia. After significant global market analysis in relation to potential commercialisation pathways, WaaS™ has emerged as FBR’s current preferred business model since the company has the potential to maximise the long-term value for shareholders and the scalability of this business model globally through WaaS.  Under the binding Memorandum of Understanding, FBR and Brickworks have also agreed to collaborate in the design, manufacture, compliance certification and testing of clay and concrete masonry blocks for use by Hadrian X in the Australian market, which will start with the development of a block product that is suitable to Western Australian builders. The MOU terminates on the earlier of the parties entering into a shareholder’s agreement and 45 days after the date of the MOU, or as otherwise agreed by the parties.

The Hadrian X is a collaborative robot that will work on sites with experienced robot operators/masons to deliver quality wall products.

With the start of the JV, Fastbrick Australia will begin pilot operations in Perth, Western Australia, with an initial focus on residential construction. Brickworks will also be granted the exclusive right to supply blocks to Fastbrick Australia. Fastbrick Australia with building companies will provide the structural brickwork for residential homes on demand through commercial building contracts. These activities are anticipated to generate first operating revenues, likely on a ‘per square metre of wall built’ basis, for FBR in FY19-20.

The CEO of FBR, Mike Pivac said that the partnership with Brickworks is a significant step forward for the company in the commercialisation of the Hadrian X, which will provide an excellent opportunity to introduce the Wall as a Service™ business model to the construction industry.

Now let us quickly have a look at FBR Limited’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.135 and increased significantly by almost 17.391% approximately during the day’s trade, with a market capitalisation of $142.8 million. The stock opened at $0.120 with its day low at $0.115 and a day’s high price of $0.137. The stock has yielded a YTD return of 19.79%. It has a 52-week high price of $0.220 and a 52-week low of $0.067, with an average trading volume of ~ 4,511,760.


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