my takeaway regarding hrm was that they would start with the australian cement-jv quite soon ( if the coming results are ok). rhe second step could be with the european jv-partner to pick a country of their choice in europe, and then see how to expand from there.
that way it makes sense to me as the cement-partner is already a client and may focus ,speed up the process over here and start with high volumes, as hrm is employed already in the australian unit and needs less testing.
Ann: Investor Presentation, page-222
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