Hills Limited has officially sold its antenna division to Australian manufacturer Bitek in an effort to mitigate its challenged finances.
Bitek will now take over the manufacture and sale of the Hills range of antennas, including its Black Arrow range, which it will supply to the television industry.
The distributor did not reveal the business’ sale value, but said it fell in line with its ongoing “strategic review”, which will see it exit the communications business altogether.
Hills managing director David Lenz claimed the distributor would “work closely” with Bitek to hand over the business for the benefit of its customers and employees.
“With more than two decades of local industry experience, Bitek is the perfect fit for our antenna business,” he said. “We’re delighted the Hills name and its much-loved products will live on in the antenna industry, along with Hills’ commitment to providing the best support and services for our customers.”
Bitek MD Kaz Bialecki added that the sale would give it a combined sales and support team of 55 across Australian and New Zealand, plus a larger range of products for its installer and distributor channel partners.
The move comes amid Hills’ ongoing streamlining of its distribution business in Australia and New Zealand, which provides audiovisual, security and IT systems, after posting an expected loss of $8.8 million last year.
The company hopes to save $5 million over two years and is expected to provide further updates after 8 November.
Founded in 1998, Bitek has a combined team of more than 250 employees, with additional staff and offices in New Zealand, the UK and Europe.
It also owns Alkris Signal Solutions in New Zealand, Digitek Holdings in Hong Kong, Digitek Electronics Technology in China and Antiference.