ATOM is a family-owned company that has become the world leading supplier of cutting systems for leather, soft and semi-rigid materials. ATOM group - with four production units and ten sales subsidiaries in Europe, the USA, Brazil, China, India and Vietnam - is a small Italian company that has evolved in a way to be comparable with large multinationals. Developed in close collaboration with the company's management team, this case-study concerns the product and market diversification of an industrial SME. Students are asked to prepare a strategic analysis, to examine the company's internationalization process, to explain the success in Brazil, and to make recommendations for future orientations.