A total of 41 people died when the Ransome and Marles factory was targeted by two German planes on Friday, March 7, 1941.
The factory made components for all three Armed Forces during the war.
The Friends of Newark Cemetery group is set to host a remembrance service on Saturday, March 5, in memory of those who died.
A two-minute silence will also take place outside Newark Town Hall at 11am.
This will be followed by the reading of the names of the 41 people killed and the tolling of the HMS Newark bell.
Children from class six at Holy Trinity Catholic Primary and Nursery School in Newark will also visit the cemetery on Monday, March 7, to lead a roll call of the 41 names and see graves of 30 of the people buried there.
The Friends of Newark Cemetery are also set to unveil a permanent memorial to the bombing victims at Newark Town Hall next month.
The permanent memorial will feature a large chrome-plated bearing – of the type still made at the factory today – and an item of memorabilia salvaged from the bombing.