Continental AG, the parent company of Semperit Ireland which employs about 180 people in the Republic, has acquired Automotive B&C, the automotive brake and chassis company, for $1.9 billion. The purchase is not expected to have any impact on the Irish operation.

Automotive B&C has annual turnover of approximately £1.5 billion and its customers include all the major vehicle manufacturers. Worldwide, it is the number one supplier of disk brakes and is the second largest supplier of anti-lock braking systems.

Continental AG says the acquisition means it is no longer just a tyre production company, but a "systems supplier to the automotive industry".