A purchaser for General Motors Holden’s Elizabeth manufacturing site in Adelaide has been selected following a six-month expression of interest process.
Holden and the purchaser are now finalising contracts, after which the name of the purchaser and further details will be announced.
Holden has proposed a plan to retain a presence across a significant portion of the site with a spare parts operation.
Holden executive director of manufacturing Richard Phillips said the buyer was an interstate business which had been selected after proposing a long-term investment strategy for the area.
"They have a good performance record and ability to deliver a high-quality outcome, with a willingness to work with local authorities and the community.
“The site is to be transformed into a master-planned, innovative business park, providing employment opportunities for new and established industries such as resources, engineering, logistics, construction, defence, food & beverage and sales from both the local, national and international market.
"Renewable energies will be part of the masterplan."
Holden will undertake a decommissioning process that will extend to mid-2019.