It will be held at Wetherspoon's White Horse pub, on Wrawby Street, from 7.30pm.
The Falcon factory became a major employer in Brigg and famously received a royal visit from Lady Diana, the Princess of Wales, who watched the various stages involved in making British bikes.
A couple of small cycles were presented to her for her sons, the then young Princes.
In the 1980s, Falcon had a football team which played in the Barton Regional Sunday League, alongside other local sides like Black Bull and King Billy.
We know that many ex-Falcon workers still live in Brigg and district so there should be a good turn-out on Friday night.