The greenseal story comes down to are suppliers in a very tight margin industry willing to invest heavily to reduce leakers by a very small percentage? May I suggest that they may not be falling over themselves to do so. Trays are only recyclable if the consumer brings them back to recycling centres - In my part of Kent they don't collect plastic. Don't get me wrong here, SEO may have a winner in Greenseal - I'm just not sure how quickly if at all consumers/manufacturers will be willing to convert. At a market cap in excess of £100m I think the downside maybe greater risk than upside potential, but that is just my view.
Also, the numbers projected for manufacturers converting kit to Greenseal assumes they are willing to spend capital doing it - and again I fear that most food manufacturers have been squeezed so much by retailers on margin that they will be unwilling to convert machines only to be told in a few months time they have lost business to A.N.Other supplier who is a penny or two cheaper per SKU.
Also,if retailers such as ASDA are supporting Stanelco technology - how much are Stanelco paying in overriders/ loyalty bonuses to retailer(s)? Is this in the projected numbers? For me there are too many unanswered questions.
The story is good, but when something seems so good it doesn't always come off - ask a Langbar shareholder.