Where does the share price go from here?, page-40

I used to think brick manufacturers are the best natural fit for WaaS JVs, i.e. Wienerberger, Brickworks, one makes bricks one lays them, nice for brick suppliers to have an extended business arm into service side.

But now I changed my view and believe FBR's best JV interest would be coming from big building companies, HX doesn't mean the do or die for brick manufacturers, but HX may very well be the make or break for many builders soon as the technology is maturing and eventually disrupting the building industry, if a builder is disadvantaged for not being able to use HX, it's to the capable builders' desire to be able to not only access to the HX building method, but more importantly be able to get foot into the new JV business with FBR and dominating on the changing market.

Regardless who uses HX for building, brick always sells, the disruption kicks into the service end first not the supply end, in another words, whichever way HX scales up, brick manufacturers always win. But at service end, how HX establishes its first presence in various markets, and with whom, means a great deal to many building companies of each region than brick manufacturers.