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SIHL buys irrigation company News Release Selwyn Investment Holdings Ltd (SIHL) - the Selwyn District Council's independent investment company - has bought an Ashburton-based irrigation company. SIHL takes ownership of KB Irrigation Limited on 1 June 2006, with all management and staff in place to carry on the business. "Irrigation is a mature industry with a solid future in Canterbury, and KB Irrigation is well-placed for further growth," said the investment manager of SIHL, Mr Arjan Bartlema. "An irrigation company of this quality sits well with our existing portfolio of works, electricity and forests investments," said Mr Bartlema. KB Irrigation supplies irrigation and pumping equipment throughout the South Island, and is based in Ashburton with a staff of 22. SHIL owns 100% of the South Island works infrastructure company SICON Ltd, 60.6% of the Selwyn Plantation Board Ltd and 10.7% of Orion Group Ltd. In 2005, SIHL paid a dividend of $4.8 million to its owner, Selwyn District Council. Contact: Arjan Bartlema Tel: 03 366 5601
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