At the workers' Creswick Rd picket line, "RIP" had been spray painted in black over union signs on the factory's front gate.

Most of the employees who spoke with The Courier said they were glad the wait had ended.

"We were resigned to the fact this was going to happen today," worker Neil Sartori said.

"But then you never knew with this mob."

AWU Victorian secretary Cesar Melham said it was human nature to make the best of the situation, but news would have big consequences for the employees.

"I suppose these workers have got a lot of pride in themselves," Mr Melham said.

"But when they go home and let the news sink in and then ... I think the emotional effect is going to hit home."

Scott Leishman said the announcement had brought some "closure".

"No one's been able to give us a straightforward answer for months, so at least now we have (that)," he said.

"It's not the answer we wanted but we've got one."

Apprentice Andrew Faulkner said it was probably the best outcome workers could expect.

He had been taken on at nearby Grigsby's Foundry and could "move on".