Cabinet talks on SPC conclude

Federal cabinet has concluded a meeting in which the future of fruit processor SPC Ardmona was a key agenda item.

The ministers, who met in Canberra for five hours on Thursday, are understood to have been briefed by Industry Minister Ian Macfarlane on assistance for the Victorian-based company.

Mr Macfarlane came armed with a report by a panel including business leaders Dick Warburton, Catherine Livingstone and former Labor minister Greg Combet.

SPCA is seeking a $25 million investment by the federal government and a matching contribution from Victoria, with parent company Coca-Cola Amatil pledging to spend a further $150 million on new products and technology.

The company told the government it needed "real encouragement" to enable it to continue production and provide up to 3000 direct and downstream jobs in regional Victoria.

Prior to the cabinet meeting, both Prime Minister Tony Abbott and Treasurer Joe Hockey talked down the prospects of assistance for the company, saying industry needed to get its own house in order.

Comment was being sought from Mr Abbott and Mr Macfarlane on the meeting's outcome.