FBR expands North American push with Mantis distribution deal
Key Takeaways
- •Industrial Robotics will act as a non-exclusive distributor for Mantis in the United States and Canada under a five-year agreement that renews automatically unless terminated.
- •The initial sales focus will cover Louisiana, Alabama, Mississippi, the Florida Panhandle and eastern Texas.
- •Industrial will provide demonstrations, local inventory, spare and wear parts, training, installation, maintenance and customer support.
- •FBR said the partnership supports expansion into North American industrial fabrication and shipbuilding markets without adding to its workforce.
- •FBR said the first Mantis unit is expected to be delivered soon, and the robot has already completed initial welding trials.
FBR Ltd (ASX: FBR) has signed a master distribution agreement with Industrial Robotics to market, sell and support its Mantis welding robot across the United States and Canada.
The agreement appoints Louisiana-based Industrial Robotics as a non-exclusive distributor for Mantis, with an initial focus on Louisiana, Alabama, Mississippi, the Florida Panhandle and eastern Texas.
Industrial will market, promote and sell Mantis units while maintaining local inventory for customer demonstrations. The company will also distribute spare and wear parts for Mantis, Hadrian and Firehawk across the 48 U.S. states.
Under the agreement, Industrial will be responsible for operator training, installation, maintenance and customer support throughout the U.S. and Canada. The five-year agreement will automatically renew unless terminated by either party.
FBR told shareholders the partnership provides a pathway into the North American industrial fabrication and shipbuilding sectors while allowing the company to expand without increasing its own workforce. The distribution arrangement also gives the company access to an established local service and logistics network, which is important for equipment that needs demonstrations, installation and ongoing support close to end users.
FBR CEO Mark Pivac said the agreement is consistent with the company’s strategy of working with partners that already have established service networks and logistics capabilities. Pivac added that the first Mantis unit is expected to be delivered soon, paving the way for customer demonstrations, sales and future production.
Mantis is an eight-metre reach, high-deposition welding robot designed for heavy fabrication, shipbuilding and defence industries. FBR said the robot has completed initial welding trials and is now being finished to production standard as remaining specialist equipment arrives, a step that will be watched closely as the company moves from development toward customer-facing deployment.
Industrial founder Ed Renton said he sees significant opportunities for the technology in the United States, particularly through his businesses’ links to the Mississippi River transportation industry.
FBR is currently trading at $0.40/share.