MARTINSVILLE, Ill – On Friday a long time Wabash Valley Business announced that they will soon be closing.

Rowe Foundry in Martinsville, Illinois will close in the first quarter this year. An exact date has not yet been set.

In a press release, Company President Ellen Norton stated that over the past few years that have continued to lose work to over competition and that even though they have struggled to become more efficient, the work that they were able to acquire was not profitable enough to sustain the business.

The company has been actively been seeking a buyer but so are have not been able to find one.

Rowe will work to fill standing confirmed orders before shutting down.

The company has been in business since 1898 and currently employs approximately 80 people.