The foundry museum occupies the buildings of the engineering work established by the Swiss ironfounder Abraham Ganz (1815-1867) who moved to Budapest in 1841 and opened his own works in 1844, specialising in the manufacture of wheels for railway carriages and wagons. The casting hall occupied by the museum. After Ganz died the company continued under the direction of Andras Mechwart (1834-1907), made important contributions to the development of roller milling technology and electric traction, and employed 6,000 people by 1895. The foundry closed in 1964.

The museum illustrates the life of Abraham Ganz, the history of the building, the role of foundries in Hungary and living conditions of the workers in the nineteenth century. A variety of products are exhibited in the casting hall, including many architectural castings, and cast-iron scultures made at the foundry are displayed in an adjacent park.