Australia's FBR jumps on MoU with Germany-based Liebherr-Mischtechnik

FBR

03/03/2022 02:08

** Shares of FBR Ltd  FBR.AX  rise as much as 11.4% to
A$0.039, set for their best session since Dec 23, if gains hold 
    ** The robotics co says it has signed a two-phase MoU with
Germany-based Liebherr-Mischtechnik GmbH  link 
    ** FBR says MoU will help industrialize and commercialize
its flagship product, next generation Hadrian X® automated
bricklaying robot for the global construction market
    ** Adds that deal will continue for two years until
execution of manufacturing and commercialisation agreement
    ** About 4.7 mln shares change hands, 2.5 times compared
with the 30-day average volume of around 1.9 mln shares
    ** Shares hit highest level since Feb 11
    ** Stock down 23.9% this year, as of last close

    

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))