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$22m lifeline for SPC Ardmona

The Victorian Government has just announced SPC Ardmona will receive $22 million to go towards upgrades.

JARROD WHITTAKER February 13, 2014 1:24pm

SPC Ardmona has received a significant lifeline, with the Victorian Government announcing a $22 million for the embattled canner.

The bid follows more than a week of negotiations between the company and the Victorian Government in the wake of federal Cabinet’s refusal to assist the company.

Coca-Cola Amatil has told the Australian Stock Exchange it will enter a legally binding agreement to maintain a minimum of 500 full-time equivalent jobs for three years and to refund all state government funds if it ceases operations in Shepparton within five years.

SPC Ardmona had been seeking $25 million each from the Federal and Victorian governments for innovation in it’s Shepparton factory.

More in tomorrow’s News.

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