Business
Why the FBR (ASX:FBR) share price surged 10% higher today
The FBR Ltd (ASX: FBR) share price shot up 10% in early trade today after the robotics company announced a new pilot program agreement.
At the time of writing, the FBR share price has retreated slightly to 5.1 cents, up 6.25%.
What did FBR announce?
In today’s release, FBR advised that it has signed a pilot program contract with Xella Technologie- und Forschungsgesellschaft mbH (Xella).
Based in Germany, Xella specialises in developing, manufacturing and marketing building and insulation materials. The company is known to be one of the world’s leading suppliers of Ytong autoclaved aerated concrete (AAC) and Silka calcium silicate blocks (CSU).
Under the agreement, Xella will supply AAC and CSU blocks to FBR in order to build…
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