The Australian company employed 37 workers at the Hillside Rd foundry it purchased off KiwiRail in 2012.
The company also has two sales staff in Christchurch.
Bradken is closing the foundry because it wants to specialise in mining equipment and move away from being involved in industrial markets.
A spokeswoman for the company said some employees had found new work and "we have supported them to take up these new roles".
"We will continue to support the remaining employees making plans for their future as we continue to meet our final customer orders."
Bradken had spoken to a number of parties about selling its assets or the business as a whole, but nothing came of the talks.
When asked if it could buy back the Bradken foundry, KiwiRail said it was not interested.
The Bradken spokeswoman said the company hoped to wrap up operations by the end of the year.
"As always, our priority is on doing this safely and looking after our people."
The company thanked its Dunedin workers for their approach to work as the company was phased out.
When it was first announced Bradken was considering closing its foundry, a Dunedin worker told the Otago Daily Times he was concerned by the high workload they would need to get through before the end of the year.
In 2012, KiwiRail put the Hillside Engineering Group on the market, Bradken buying part of it.
Last year, the Government announced it would pump $20million into the Hillside workshops to revitalise them, and a detailed design for new construction was expected before the end of the year.
