As a long term investor in SML I can understand the market reaction to today’s news.

My gut reaction was initially this is not good for SML but with ATM’s growth agenda it makes complete sense that they need multiple partners. In the last year SML has doubled its canning capacity and bought a facility in Auckland.

The SML growth story is well in tact but despite all this... it makes sense that a $1 billion company can’t be the sole supplier to an $8 billion company. Think about that for a moment...

There is no indication that the supply relationship between SML and ATM is damaged, reading between the lines, it will likely strengthen all 3 parties which will allow SML to continue its growth agenda without the pressure to keep up with all of ATM’s supply needs.

Looks pretty good to me and I’m going to sit back and look forward to another bumper earnings report and want to hear more about further SML growth opportunities going forward.