THE former DSI Holdings site in Lavington has been sold soon after the five-year anniversary of the last gearbox rolling off the production line.
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Agents Stean Nicholls have clinched the deal with a NSW investor whose identity will remain under wraps until official settlement on the sale takes place later this month and future plans for the site are revealed.
At the time of its closure in October 2014, when a contract to supply gearboxes to SsangYong expired, about 140 staff worked at the Kaitlers Road site.
"It's taken 14 months to get to this point and definitely been sold, the transaction will be settled later this month," agent Geoff Stean said.
"It is not a protracted settlement.
"Obviously they've got fairly substantial plans because you don't buy a building of that calibre and just sit on it.
"In the near future the building will be used to great potential."
The sale price has not been disclosed.
The sale of the 33 hectare site with 35,000 square metres of warehouse area comes hard on the heels of the confirmation the Norske Skog paper mill will cease production next month, but the site has been sold to Australian paper giant Visy.
The DSI factory began operating in 1971 when it made gearboxes for Nissan, Holden and Ford cars.
It has had a succession of names including Borg Warner, Ion and BTR before becoming DSI.
At one of its peak periods in the early 1980s more than 1200 people worked at the factory.
The site is presently zoned general industrlal.
