If they sell $10m of machines to the JVs then they deserve the performance shares IMO. Any loans of $$ from FBR to FBA or other JV should be excluded though. That means they would have to sell $20m worth.
Though I don't understand if the JV is 50/50 what FBR will be bringing if the machines are sold. Maybe the bricks are also sold at market rates into the JV also.
The most positive thing said in all of this is that the brick manufacturers need HX to keep their products relevant so they are not overtaken by 3D slop, awful tilt up or other prefab technologies.This means that the brick manufacturers will not let this fail.
Melbourne Roadshow, page-11
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