Brickworks enters robotic joint venture

Bulding products group Brickworks (ASX: BKW) and robotics developer FBR (ASX: FBR) have inaugurated their joint venture ‘wall as a service’ manufacturing business, Fastbrick Australia.

Fastbrick will charge customers by the square metre of wall built, and exclusively utilise FBR’s Hadrian X bricklaying robot and Brickworks masonry blocks in its Australian operations.

Fastbrick is a 50:50 joint venture between the companies and supersedes a previous memorandum of understanding.

FBR has received the first shipment of masonry blocks made by Brickworks and optimised for use with the Hadrian X.

The companies said testing had begun of these new bloaks at FBR’s facility located at High Wycombe, Western Australia

In March @AuManufacturing reported Brickworks had powered to a record profit of $160 million for the first half of the year, following the success of its diversification efforts.

During the half Brickworks sold 7.9 million shares in Washington H. Soul Pattinson (WHSP) for $208 million and spent $151 million to buy one of the US’s largest brick makers, Glen-Gery.

The Fastbrick vengture has an initial term of three years which can be extended by agreement.

Picture: FBR/Hadrian X

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