The copper electronics company Platts Platts is in talks with an Irish buyer, it has been revealed.
The company, which makes electronic equipment for electric vehicles, has already agreed to sell its UK business to the British firm, which has agreed to take on a controlling stake.
Platts, which employs over 500 people, will become the UK’s third-largest private-sector employer after Siemens and the French company Safran.
It is understood that the Irish buyer will make the purchase of its European businesses through the Irish company’s existing Irish subsidiary.
The purchase will be made subject to approval from the European commission and a deal is expected to be signed later this year.
The sale follows Platts’ purchase of a controlling share in a car battery maker.
It is understood the company will continue to make car batteries, as well as other products.
In March, Platts sold a controlling interest in its European business to a consortium of Chinese companies.