(COLDWATER) – A longtime Coldwater business will be closing their doors later this year.

In a media release, Quality Spring Togo announced on Friday to their 93 employees and the public they will be closing by September 30. The closing is due to their customers either not needing Quality Springs Togo parts any more, or they are phasing the parts out because of the rising electric vehicle market.

Company officials also say some of their parts are being more efficiently made in other facilities that are closer to their customer locations.

Founded in 1940, Quality Springs Products grew to become a division of the Kuhlman Corporation in 1964. Later, in 1988, they formed a joint venture partnership with Togo Seisakusyo Corporation in Japan.