Foundry was established by Georg Howaldt for the requirements of Kiel shipyard in the mouth of Schwentine river in 1884. The workshop was designed by famous artist and architect Heinrich Moldenschardt. It is the oldest evidence of shipbuilding on the eastern side of the Kiel bay. Besides, it is the oldest preserved industrial building in the vicinity of Kiel. The foundry was closed in 1980. With means, collected by the local population and transferred by the museum association, a reconstruction was conducted and in 2007 a museum was opened.