FBR Ltd Rejiggers Corporate Structure, Established New Global Commercialisation Team

FBR Limited (ASX: FBR) designs and develops stabilised robots, primarily for the construction sector and some other industries. FBR is Headquartered in Perth, Australia.

Hadrian X by FBR (Source: Company Reports)

The company has recently established a Global Commercialisation Team to work specifically on any significant international opportunities for its Hadrian X technology and the new technologies under development.

Details on the composition of the team

The Global Commercialisation team will be led by Mike Pivac (Global CEO and Managing Director). He will be accompanied by the Chief Corporate Development Officer of FBR, Mr Marcus Gracey. On finding a suitable replacement for the position of Chief Financial Officer, Aidan Flynn will also join hands to run the team. His role will involve economic and financial modelling and value creation for the Global Commercialisation Team being set up. Apart from that, he will vacate his position as the Joint Company Secretary, and Ms Rachelle Brunet will solely operate as the Company Secretary.

For the management of the Australian operations, Mr Simon Amos has been appointed to the position of CEO (Australia) of FBR. The operations in Australian geography will majorly focus on construction given the establishment of Fastbrick Australia Pty Ltd, a Joint Venture of FBR with Brickworks. The Joint Venture was established to provide Wall as a ServiceTM in the local market. The initial term of the JV is three years and can be extended further via agreement.

Brief profile of Mr Simon Amos – Mr Amos has both local and international experience of 25 years in the building and construction industry. He was formerly the Director of Construction Technologies at Fastbrick Robotics. Previously, he has also been associated with companies like John Holland Construction & Engineering, Broad Group Holdings and Leighton Contractors at senior level positions, predominantly working in the Head Contracting environment. As part of his other engagements, he acts as Corporate Member of the Chartered Association of Building Engineers (UK) and a Corporate Member of the Institute of Engineering and Technology. He holds a Masters degree in Business Administration (Specialization: Information Systems) and is a Fellow of the Australian Institute of Building and a Registered Building Practitioner in Western Australia.

Strategy in place

The new corporate structure comes as a consequence of continuous dialogue between the Board of FBR and its leadership team to accelerate the company’s commercialisation strategy and further technological advancements thereon. The newly defined roles will help maintain proper focus on both the company’s international presence and its growth prospects in Australia. While Mike Pivac, the Global CEO and Managing Director, will help shape FBR’s international presence and help capitalise on significant commercial opportunities through binding agreements, Mr Simon with his rich experience in the industry, will entirely focus on construction in Australia with Hadrian X moving into the new phase of its program.

The company’s stock is currently trading at $0.080 (up 1.266% on 3rd June 2019), with a market capitalisation of $110.89 million.


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