THL buys AAP subsidiary

Transmission Holdings Group has bought Australian Associated Press' telecommunications infrastructure services company, AAPCS, for an undisclosed sum as a subsidiary for its Australian arm.

THL chairman Wayne Brown said the buy was an exciting development reflecting the board's strategy of growth.

He said AAPCS was an excellent fit for the group, which specialises in wireless engineering, broadcast, telecoms and information technology services. Its Australian arm has established itself as a leading supplier of broadcast transmission and maritime communications services in that country.

The sale of AAP Communications Services completes a programme by AAP to divest non-core businesses.

The THL Group was created as a state-owned enterprise in 2003 when TVNZ's transmission division was established as a separate company.

- NZPA