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W&K grows fuel distribution base

By Phil Boeyen, ShareChat Business News Editor

Tuesday 19th December 2000

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Rural services company Williams & Kettle (NZSE: WKL) has purchased a half share in fuel distribution business Kiwi Fueline.

Kiwi Fueline mainly services farmers in Taranaki, Manawatu and Wairarapa and has been bought from Kiwi Co-operative Dairies.

Mobil Oil owns the other half of the company. Williams & Kettle already owns another fuel distribution business on the North Island's East Coast with Mobil called R Sherwood.

W&K says the two combined will create a substantial fuel distribution business covering the majority of the lower half of the North Island.

Chief executive, Gerald Weenink, says buying the new distribution business provides a logical expansion to the company's range of farm services in those regions, and the investment is anticipated to be "earnings per share positive".

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