Ann: Response to Shareholder's Questions from Chairman's Address, page-8

Does exclusivity really matter if you have the customer relationships tied up?

Under the scenario of: Apple get finished glass supply from Corning, who get materials and technical assistance from Saint Gobain, who get raw materials from Merck, who get raw materials from ANO. Apple would only care that Corning ensure supply and might be aware that it's associated with 2 other major global suppliers down the chain in Saint Gobain and Merck.

We simply don't know, and neither would ANO, all they know is Merck have somehow found a way to max out ANO's capacity level - in a time when the luxury cosmetics market is not seemingly operating at peak levels (and obviously asking ANO to increase capacity accordingly due to forecasted demand continuing). So, what are they doing with it?