The cabinet rejected the company’s request for 25 million dollars in funding to modernize its unit in Shepparton and increase its productivity.
The rejection was based on the fact that SPC Ardmona’s parent company, Coca Cola Amatil is very profitable and has the financial resources to support SPC Ardmona and fund its modernization program.
After the rejection of the financial aid SPC Ardmona may be forced to close. If this happens, approximately 5,000 employees will lose their jobs. The closing will also affect many Greek-Australian farmers who were producing fruits and vegetables and were selling them to the company.