MARTINSVILLE, Ill. (WTWO/WAWV) — After 120 years in business, a Martinsville, Ill. foundry will soon shut its doors.

No official date has been given for Rowe Foundry’s closure; however, foundry president Ellen Norton said it would “be ceasing operations during the first quarter of 2020.”

“Over the last few years, we have steadily lost work to overseas competition,” Norton said in a written statement. “The work we were able to keep tended to be less profitable.”

Norton said the company spent several months attempting to find a buyer for the foundry that would keep the business in operation, but were not successful.

“We have notified customers and suppliers of our plan,” Norton said. “After getting firm orders from our customers, a date will be set for the shutdown.”

The City’s mayor said the closing of Rowe Foundry will be a great loss to the Martinsville community.

“For the summer recreation program, they helped build a concession up there and they took their equipment up there and helped us put backstops up, and with the scholarship they had for kids at the school. It’s just going to hurt the community quite a bit,” said Mayor Herman Davidson.

The foundry employees roughly 70 to 80 people.