Who was it that owned a foundry in Winchester and had a car in the 500

Sherm Armstrong

Are you thinking of Sherman Armstrong? He owned Armstrong Mold, which I think was a Winchester, IN company. Purchased Salem Speedway in 1977. Owned and sponsored USAC Sprint cars from 1977 through about 1980/1981. Owned and sponsored USAC midgets for Mel Kenyon (1 year I believe) and his sons Sherman Armstrong Jr. and Sherwin (? not sure of that name). Won the USAC sprint championship with Tom Bigelow in 1978 and Greg Leffler in 1979. I BELIEVE he owned and/or sponsored cars in the Indianapolis 500 from 1978-about 1980.

I'm curious. Is this the same family of driver Caleb Armstrong?

No

Yep that’s the one I was thinking about

What ever happened to his sons ??

I think one of them had a bad crash in a midget. Also I think he ran into some money problems, cooked the books and did some jail time.