FBR Limited (ASX:FBR) Boosts Capital and Streamlines Operations for Future Growth

March 27, 2025 09:35 PM AEDT | By Team Kalkine Media

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FBR Limited (ASX:FBR) Boosts Capital and Streamlines Operations for Future Growth — Image source: Shutterstock

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Highlights

$6.3 Million Raised: FBR Limited enhances its financial position.

Significant Cost Reductions: Strategic cuts aim for a 70% cost reduction.

Expanding Market Reach: Partnerships to drive advanced robotic solutions.

FBR Limited (ASX:FBR) has successfully completed a financial initiative, securing A$6.3 million through a placement priced at A$0.01 per share. This strategic move attracted both Australian and international institutional investors, signaling strong market confidence in the company's future. The newly acquired funds are earmarked to bolster working capital and to cover expenses related to both restructuring and ongoing development.

In a bold step towards financial sustainability, FBR Limited has announced a comprehensive corporate restructuring plan. The initiative focuses on significantly diminishing operational costs by approximately 70%. Key measures include a substantial reduction in staff numbers, a 30% reduction in the salaries of directors and founders, and a 25% cut in the compensation of Non-Executive Directors. The total cost for implementing these changes is projected at around A$2.3 million. This restructuring is designed to establish a more sustainable cost framework, ensuring the company's resilience and ability to compete in the evolving market.

Further emphasizing its commitment to innovation and market expansion, FBR Limited is actively engaging with key players in the steel, mining, energy, and construction sectors. These discussions aim to leverage FBR's advanced robotic technologies and robust R&D capabilities to forge strategic partnerships. The company is particularly focused on advancing its market presence through initiatives like the Hadrian X entry strategy with Liebherr and the onset of Phase 1 collaborations with Samsung Heavy Industries (KRX:010140).

Mike Pivac, Managing Director and CEO of FBR, commented on the developments, stating, "The entire team at FBR has dedicated years to developing and deploying some of the world's most sophisticated construction robots. Our continuous efforts to refine our products, commercial strategies, and organizational structure underscore our commitment to excellence and innovation in our field."

This phase of financial bolstering and strategic restructuring marks a pivotal moment for FBR Limited as it reinforces its position in the global market. By optimizing its operational costs and expanding its strategic partnerships, FBR is poised to enhance its product offerings and realize its ambitions in the evolving robotics and construction industries.

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