An Indianapolis business that dates back to the late 1800's plans to shut down operations over the next 24 to 36 months.

INDIANAPOLIS (WTHR) - An Indianapolis business that dates back over a century plans to shut down operations over the next 24 to 36 months.

Diamond Chain's parent company, the Timken Company, says they will establish their Fulton, Ill., facility where they manufacture chain product as their global chain business headquarters.

The company says their lease is expiring at the Indianapolis facilty and using a facility they own in Illinois allows them to leverage their existing manfacturing footprint.

The company plans to provide support to help employees affected by this change, including possible opportunities for qualified candidates to fill open positions at our Fulton facility, benefits continuation and severance pay.

Approximately 240 associates work at the Indianapolis Diamond Chain facility.