The bit that gets me for the JV signing is do the offtakes come before or after. The block manufacturers want this. It keeps them relevant and may even expand their footprint. I think Jarett Gross said he count 140+ 3DCP companies. CRH want FBR to compete with that. They don't want to lose market share to 3DCP. Especially when they could potentially gain from the timber construction sector.
So for CRH to sign the JV, they need to know that there will be offtake agreements. Do they accept a verbal agreement, or just go in confidently or will they wait for some offtake agreements to be signed with builders. As we know, they don't like changing the way that they do things. And do they need to know that a certain amount of Hadrians are available so they can confidently schedule WAAS.
There are just a couple of chick/egg scenarios to play out. Then full steam ahead.
FBR Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
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