The future for robot construction. Fastbrick CEO Mike Pivac explains.

Fastbrick (ASX:FBR) has placed itself in a trading halt on the Australian Stock Exchange.

It has listed the reasons as:

• A Deed of Extension relating to the Company’s existing Memorandum of Understanding with Caterpillar Inc.; and

• A new Option Deed with a subsidiary of Caterpillar Inc. providing it with the option to subscribe for shares in FBR. The exercise of this option is intended to be conditional upon Caterpillar entering into a Strategic Alliance Agreement with FBR and the option will be subject to FBR shareholder approval.

This follows the announcement, a few days ago, regarding the FBR Strategic Collaboration Agreement, with Mexican developer GP Vivienda, which is the housing division of Grupo GP, one of Mexico’s largest construction companies.

InsideMarket Editor Phil Carey spoke with CEO Mike Pivac about the future of the company and the value of its core technology - dynamic stablization.