SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

   (X)        QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
--------
                         SECURITIES EXCHANGE ACT OF 1934



For the quarter ended May 28, 2000                Commission File Number 1-9967
                                                                         ------



              A M C A S T I N D U S T R I A L C O R P O R A T I O N
              -----------------------------------------------------
             (Exact name of registrant as specified in its charter)



              Ohio                                              31-0258080
---------------------------------                           -----------------
    (State of Incorporation)                                (I.R.S. Employer
                                                            Identification No.)

7887 Washington Village Drive, Dayton, Ohio                   45459
---------------------------------------------------         ----------
(Address of principal executive offices)                    (Zip Code)



                                 (937) 291-7000

         ---------------------------------------------------------------
              (Registrant's telephone number, including area code)

--------------------------------------------------------------------------------
(Former  name, former  address and former  fiscal year,  if changed  since  last
 report)




Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by  Section  13 and  15(d) of the  Securities  Exchange  Act of 1934
during the  preceding  twelve  months,  and (2) has been  subject to such filing
requirements for the past 90 days.

     Yes         X                                       No
                -----                                            ----

Number  of  Common  Shares  outstanding,  no par  value,  as of May  28,  2000 -
8,405,604 shares.


                                       1
<PAGE>



                          AMCAST INDUSTRIAL CORPORATION

                               REPORT ON FORM 10-Q

                       FOR THE QUARTER ENDED MAY 28, 2000

                                    I N D E X

PART I - FINANCIAL INFORMATION                                             PAGE
                                                                            ----

      Item 1  -  Financial Statements:

                 Consolidated Condensed Statements of Financial                3
                 Condition - May 28, 2000 and August 31, 1999

                 Consolidated Condensed Statements of Income -                 4
                 for the Quarter and Nine Months Ended May 28, 2000
                 and May 30, 1999

                 Consolidated Condensed Statements of Retained Earnings -      4
                 for the Quarter and Nine Months Ended May 28, 2000
                 and May 30, 1999

                 Consolidated Condensed Statements of Cash Flows -             5
                 for the Nine Months Ended May 28, 2000
                 and May 30, 1999

                 Notes to Consolidated Condensed Financial Statements       6-10

      Item 2  -  Management's Discussion and Analysis of Financial

                 Condition and Results of Operations                       11-15

       Item 3 - Quantitative and Qualitative Disclosures about                16
                Market Risk

PART II - OTHER INFORMATION

      Item 5 - Submission of Matters to a Vote of Security Holders            16

      Item 6 - Exhibits and Reports on Form 8-K                               16

SIGNATURES                                                                    17


                                       2
<PAGE>

PART I - FINANCIAL INFORMATION

                   AMCAST INDUSTRIAL CORPORATION
                CONSOLIDATED CONDENSED STATEMENTS OF FINANCIAL CONDITION
 ($ in thousands)
   (unaudited)
<TABLE>
<CAPTION>
<S>                                                        <C>        <C>
                                                           May 28     August 31
                                                            2000         1999
                                                          ---------   ---------
ASSETS

Current Assets

    Cash and cash equivalents                             $   2,336   $   6,928
    Accounts receivable                                      88,257      97,819
    Inventories                                              73,281      77,166
    Other current assets                                     19,694      21,144
                                                          ---------   ---------
        Total Current Assets                                183,568     203,057

Property, Plant, and Equipment                              388,131     401,012
    Less accumulated depreciation                          (162,926)   (144,254)
                                                          ---------   ---------
                                                            225,205     256,758

Goodwill                                                     50,048      61,261
Other Assets                                                 18,177      12,410
                                                          ---------   ---------
                                                          $ 476,998   $ 533,486
                                                          =========   =========

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities

    Short-term debt                                       $     248   $   4,673
    Current portion of long-term debt                         3,861       6,182
    Accounts payable                                         68,277      82,396
    Accrued expenses                                         40,495      40,851
                                                          ---------   ---------
           Total Current Liabilities                        112,881     134,102

Long-Term Debt - less current portion                       161,930     174,061
Deferred Income Taxes                                        32,129      32,775
Deferred Liabilities                                         18,497      21,782

Shareholders' Equity

Preferred shares, without par value:

   Authorized - 1,000,000 shares; Issued - None                   -           -
Common shares, at stated value
   Authorized - 15,000,000 shares
   Issued - 9,227,600 and 9,208,529 shares,
   respectively                                               9,228       9,209
Capital in excess of stated value                            70,981      79,020
Accumulated other comprehensive income (losses)              (7,169)     (1,018)
Retained earnings                                            88,163      87,796
Cost of 821,996 and 253,609 common shares in treasury        (9,642)     (4,241)
                                                          ---------   ---------
                                                            151,561     170,766
                                                          ---------   ---------
                                                          $ 476,998   $ 533,486
                                                          =========   =========
</TABLE>

See notes to consolidated financial statements

                                       3
<PAGE>

                          AMCAST INDUSTRIAL CORPORATION

                   CONSOLIDATED CONDENSED STATEMENTS OF INCOME
                              AND RETAINED EARNINGS
                   ($ in thousands except per share amounts)
                                   (unaudited)
<TABLE>
<CAPTION>
<S>                                                       <C>          <C>        <C>          <C>

                                                             Three Months Ended      Nine Months Ended

                                                          ----------------------  ----------------------
                                                             May 28       May 30     May 28       May 30
                                                              2000         1999       2000         1999
                                                          ----------   ---------  ----------   ---------
 Consolidated Condensed Statements of Income

Net sales                                                 $ 163,162    $ 157,790   $ 459,250   $ 445,548
Cost of sales                                               141,224      133,939     399,336     371,735
                                                          ----------   ---------  ----------   ---------
        Gross Profit                                         21,938       23,851      59,914      73,813
Selling, general and administrative expenses                 14,349       14,362      42,958      42,135
Gain on sale of business                                          -            -           -      (9,023)
                                                          ----------   ---------  ----------   ---------
        Operating Income                                      7,589        9,489      16,956      40,701
Equity in (income) loss of joint venture
and other (income) and expense                                1,521          382         884         708
Interest expense                                              3,287        3,076       9,657      10,144
                                                          ----------   ---------  ----------   ---------
        Income before Income Taxes                            2,781        6,031       6,415      29,849
Income taxes                                                    940        2,292       2,368      11,579
                                                          ----------   ---------  ----------   ---------
        Net Income                                          $ 1,841      $ 3,739     $ 4,047    $ 18,270
                                                          ==========   =========  ==========   =========


Consolidated Condensed Statements of Retained Earnings

Beginning retained earnings                                $ 87,499     $ 85,541    $ 87,796    $ 73,588
Net income                                                    1,841        3,739       4,047      18,270
Dividends                                                    (1,177)      (1,277)     (3,675)     (3,855)
Stock awards                                                      -            -          (5)          -
                                                          ----------   ---------  ----------   ---------
        Ending Retained Earnings                           $ 88,163     $ 88,003    $ 88,163    $ 88,003
                                                          ==========   =========  ==========   =========

Basic earnings per share                                     $ 0.21       $ 0.41      $ 0.45      $ 1.99
                                                          ==========   =========  ==========   =========

Diluted earnings per share                                   $ 0.21       $ 0.41      $ 0.45      $ 1.98
                                                          ==========   =========  ==========   =========

Dividends declared per share                                 $ 0.14       $ 0.14      $ 0.42      $ 0.42
                                                          ==========   =========  ==========   =========

Dividends paid per share                                     $ 0.14       $ 0.14      $ 0.42      $ 0.42
                                                          ==========   =========  ==========   =========

See notes to consolidated financial statements.
</TABLE>


                                       4
<PAGE>


                          AMCAST INDUSTRIAL CORPORATION
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                ($ in thousands)
                                   (unaudited)
<TABLE>
<CAPTION>
<S>                                                     <C>          <C>
                                                         Nine Months Ended
                                                       ----------------------
                                                         May 28       May 30
                                                          2000         1999
                                                       ---------    ---------

Operating Activities

       Net income                                      $   4,047    $  18,270
       Depreciation and amortization                      24,772       24,105
       Gain on sale of business                                -       (9,023)
       Deferred liabilities                               (2,220)      (2,853)

       Changes in assets and liabilities:
            Accounts receivable                           (3,757)       2,664
            Inventories                                     (363)      (4,226)
            Other current assets                             (82)       1,779
            Accounts payable                              (8,796)       2,671
            Accrued liabilities                            2,904        8,206
            Other                                          1,407          907
                                                       ---------    ---------
Net Cash Provided by Operations                           17,912       42,500

Investing Activities

       Additions to property, plant, and equipment       (12,909)     (34,122)
       Settlement related to business acquisition         (2,500)           -
       Proceeds from sale of business                          -       35,604
       Acquisitions, net of cash acquired                      -       (1,200)
       Other                                                 142          231
                                                       ---------    ---------
Net Cash (Used) Provided by Investing Activities         (15,267)         513

Financing Activities

       Additions to long-term debt                        59,466       36,154
       Reduction in long-term debt                       (84,847)     (65,522)
       Short-term borrowings                              16,950      (10,419)
       Proceeds from sale leaseback                        6,488            -
       Dividends                                          (3,675)      (3,855)
       Purchase of treasury shares                        (1,255)      (1,831)
       Other                                                 198           36
                                                       ---------    ---------
Net Cash Used by Financing Activities                     (6,675)     (45,437)

Effect of exchange rate changes on cash                     (562)        (465)
                                                       ---------    ---------
Net change in cash and cash equivalents                   (4,592)      (2,889)

Cash and cash equivalents at beginning of period           6,928        7,022
                                                       ---------    ---------

Cash and Cash Equivalents at End of Period             $   2,336    $   4,133
                                                       =========    =========

Supplemental disclosure of non-cash investing and financing activities:

Purchase price settlement related to business acquisition:
Disposition of common stock price protection
     liability                                          $ (8,196)
Acquisition of treasury shares                            (4,304)
Less reduction in original purchase price                 10,000
                                                       ---------
                                                        $ (2,500)
                                                       =========
</TABLE>

See notes to consolidated financial statements

                                       5
<PAGE>


                          AMCAST INDUSTRIAL CORPORATION

              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

                   ($ in thousands, except per share amounts)
                                   (unaudited)

Preparation of Financial Statements

The  accompanying   consolidated  condensed  financial  statements  include  the
accounts  of  Amcast  Industrial   Corporation  and  its  domestic  and  foreign
subsidiaries  (the Company).  Intercompany  accounts and transactions  have been
eliminated.  The Company's  investment in Casting  Technology  Company  (CTC), a
joint venture,  is included in the accompanying  financial  statements using the
equity method of accounting. The consolidated condensed financial statements are
unaudited  and  have  been  prepared  in  accordance  with  generally   accepted
accounting   principles  for  interim   financial   information   and  with  the
instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do
not include all of the  information  and footnotes  required for complete annual
financial  statements  and  should  be read in  conjunction  with the  Company's
audited  consolidated  financial  statements  and  footnotes  for the year ended
August 31, 1999  included in the  Company's  Annual  Report on Form 10-K. In the
opinion of management,  all adjustments,  consisting of only normally  recurring
accruals, necessary for a fair presentation have been included.

Comprehensive Income

Comprehensive  income  includes  all changes in  shareholders'  equity  during a
period  except  those  resulting  from  investments  by  and   distributions  to
shareholders. The components of comprehensive income are:

<TABLE>
<CAPTION>

<S>                              <C>         <C>          <C>          <C>
                                  Three Months Ended        Nine Months Ended

                                 --------------------     ---------------------
                                  May 28      May 30        May 28      May 30
                                   2000        1999          2000        1999
                                 --------    --------     --------     --------

Net income                       $ 1,841     $ 3,739      $ 4,047      $ 18,270
Foreign currency
translation adjustments           (4,206)     (2,497)      (6,151)           92
                                 --------    --------     --------     --------
                                 $(2,365)    $ 1,242      $(2,104)     $ 18,362
                                 ========    ========     ========     ========
</TABLE>

Divestitures

During the first quarter of fiscal 1999, the Company sold Superior Valve Company
for $35,604 in cash. The transaction  resulted in a pre-tax gain of $9,023.  The
business,  acquired  by Amcast in 1986,  produces  specialty  valves and related
products for the compressed gas and commercial refrigeration markets.

                                       6
<PAGE>


Inventories

The major components of inventories are:
<TABLE>
<CAPTION>

<S>                                          <C>           <C>
                                             May 28        August 31
                                               2000            1999
                                             --------       ---------

Finished products                            $ 38,092         $36,979
Work in process                                19,975          21,833
Raw materials and supplies                     17,661          20,801
                                             --------       ---------
                                               75,728          79,613
Less amount to reduce certain
      inventories to LIFO value                 2,447           2,447
                                             --------       ---------

                                             $ 73,281         $77,166
                                             ========       =========
</TABLE>

Long-Term Debt

The following table summarizes the Company's long-term borrowings:

<TABLE>
<CAPTION>

<S>                                           <C>           <C>
                                              May 28        August 31
                                               2000            1999
                                             --------       ---------

Senior notes                                 $ 50,000        $ 50,875
Revolving credit notes                         81,307         112,793
Lines of credit                                21,100               -
Industrial revenue bonds                        5,575           5,750
Other debt                                      4,031           4,014
Capital leases                                  3,778           6,811
                                             --------       ---------
                                              165,791         180,243
Less current portion                            3,861           6,182
                                             --------       ---------

                                             $161,930       $ 174,061
                                             ========       =========
</TABLE>

During the first and third  quarters of fiscal  2000,  the  Company  amended its
credit agreement. Among other things, these amendments changed certain financial
covenants  (including  the interest  coverage and  debt-to-earnings  ratios) and
added certain affirmative covenants.  Both amendments also included increases to
the  applicable  LIBOR margin.  Subsequent to the third quarter  amendment,  the
Company decreased its credit agreement from $200,000 to $150,000.

                                       7
<PAGE>

Earnings Per Share

The following table reflects the calculations for basic and diluted earnings per
share for the three-and  nine-month periods ended May 28, 2000 and May 30, 1999,
respectively.

<TABLE>
<CAPTION>

<S>                            <C>        <C>         <C>            <C>
                                 Three Months Ended       Nine Months Ended

                               --------------------   ------------------------
                                May 28      May 30      May 28       May 30
                                 2000        1999        2000         1999
                               ---------  ---------    ---------    ---------

Net income                       $ 1,841    $ 3,739      $ 4,047    $  18,270
                               =========  =========    =========    =========

Basic Earnings per Share:
Basic shares                       8,863      9,169        8,930        9,187
                               =========  =========    =========    =========

Net income                        $ 0.21     $ 0.41      $  0.45     $   1.99
                               =========  =========    =========    =========

Diluted Earnings per Share:
Basic shares                       8,863      9,169        8,930        9,187
Stock options                          0         19            5           19
                               ---------  ---------    ---------    ---------
Diluted shares                     8,863      9,188        8,935        9,206
                               =========  =========    =========    =========

Net income                        $ 0.21     $ 0.41     $   0.45     $   1.98
                               =========  =========    =========    =========
</TABLE>

For each of the periods presented, there were outstanding stock options excluded
from the  computation  of diluted  earnings  per share  because the options were
antidilutive.

                                       8
<PAGE>

Business Segments

Operating  segments are organized  internally  primarily by the type of products
produced  and  markets  served.  The Company has  aggregated  similar  operating
segments into two  reportable  segments:  Flow Control  Products and  Engineered
Components.  The Company evaluates segment  performance and allocates  resources
based on  several  factors,  of which  net sales and  operating  income  are the
primary financial measures. At May 28, 2000 there were no significant changes in
identifiable  assets of reportable segments from the amounts disclosed at August
31,  1999,  nor were there any  changes in the  reportable  segments,  or in the
measurement of segment operating results.

Operating  information  related  to  the  Company's  reportable  segments  is as
follows:

<TABLE>
<CAPTION>

<S>                      <C>          <C>            <C>          <C>

                                 Net Sales                Operating Income
                         --------------------------  --------------------------
                         For the Three Months Ended  For the Three Months Ended
                         --------------------------  --------------------------
                            May 28       May 30         May 28       May 30
                             2000         1999           2000         1999
                         ----------   ----------     ----------   ----------
Flow Control Products     $  38,094    $  41,208      $   6,396    $   7,035
Engineered Components       125,068      116,582          2,925        5,132
Corporate                         -            -         (1,732)      (2,678)
                         ----------   ----------     ----------   ----------
                            163,162      157,790         7,589         9,489
Equity in joint venture
 and other (income)
 expense                          -            -          1,521          382
Interest expense                  -            -          3,287        3,076
                         ----------   ----------     ----------   ----------
Total net sales and
income before taxes       $ 163,162    $ 157,790      $   2,781     $  6,031
                         ==========   ==========     ==========   ==========

<CAPTION>
<S>                      <C>          <C>            <C>          <C>
                                 Net Sales                Operating Income
                         --------------------------  --------------------------
                         For the Nine Months Ended   For the Nine Months Ended
                         --------------------------  --------------------------
                            May 28       May 30         May 28       May 30
                             2000         1999           2000         1999
                         ----------   ----------     ----------   ----------
Flow Control Products     $ 109,578    $ 115,914      $  17,176     $ 18,549
Engineered Components       349,672      329,634          6,141       21,036
Corporate                         -            -         (6,361)      (7,907)
                         ----------   ----------     ----------   ----------
                            459,250      445,548         16,956       31,678
Disposition of businesses         -            -              -       (9,023)
Equity in joint venture
 and other (income)
 expense                          -            -            884          708
Interest expense                  -            -          9,657       10,144
                         ----------   ----------     ----------   ----------
Total net sales and
income before taxes       $ 459,250    $ 445,548      $   6,415     $ 29,849
                         ==========   ==========     ==========   ==========
</TABLE>

                                       9
<PAGE>

Commitments and Contingencies

At May 28, 2000,  the Company has committed to capital  expenditures  of $2,877,
primarily for the Engineered Components segment.

The Company, as is normal for the industry in which it operates,  is involved in
certain legal proceedings and subject to certain claims and site  investigations
which  arise  under  the  environmental  laws and  which  have not been  finally
adjudicated.

The Company has been  identified as a potentially  responsible  party by various
state agencies and by the United States  Environmental  Protection  Agency (U.S.
EPA) under the Comprehensive  Environmental  Response Compensation and Liability
Act of 1980,  as amended,  for costs  associated  with U.S. EPA led  multi-party
sites and state  environmental  agency-led  remediation  sites.  The majority of
these claims involve  third-party owned disposal sites for which compensation is
sought  from the  Company as an alleged  waste  generator  for  recovery of past
governmental  costs or for  future  investigation  or  remedial  actions  at the
multi-party   sites.   There   are   three   Company-owned    properties   where
state-supervised  cleanups  are  expected.  The  designation  as  a  potentially
responsible  party and the assertion of such claims against the Company are made
without taking into  consideration the extent of the Company's  involvement with
the  particular  site. In each  instance,  claims have been  asserted  against a
number of other  entities for the same  recovery or other relief as was asserted
against the Company.  These claims are in various  stages of  administrative  or
judicial  proceeding.  The Company has no reason to believe that it will have to
pay a significantly disproportionate share of clean-up costs associated with any
site. To the extent  possible,  with the information  available at the time, the
Company has evaluated its  responsibility  for costs and related  liability with
respect to the above sites. In making such evaluation,  the Company did not take
into consideration any possible cost reimbursement  claims against its insurance
carriers. The Company is of the opinion that its liability with respect to those
sites should not have a material  adverse  effect on its  financial  position or
results of operations.  In arriving at this  conclusion,  the principal  factors
considered by the Company were ongoing  settlement  discussions  with respect to
certain of the sites, the volume and relative  toxicity of waste alleged to have
been disposed of by the Company at certain  sites,  which factors are often used
to allocate  investigative  and  remedial  costs among  potentially  responsible
parties, the probable costs to be paid by other potentially responsible parties,
total projected  remedial costs for a site, if known, and the Company's existing
reserve to cover costs associated with unresolved environmental proceedings.  At
May 28, 2000, the Company's accrued  undiscounted reserve for such contingencies
was $1,512.

Allied-Signal  Inc. brought an action against the Company seeking a contribution
from the Company equal to 50% of Allied-Signal's  estimated $30,000  remediation
cost in  connection  with a site in  southern  Ohio.  The Company  believes  its
responsibility  with  respect to this site is very  limited due to the nature of
the foundry  sand waste it disposed of at the site.  The court has  rendered its
decision on this case, however, the exact amount of the verdict has not yet been
determined by the court. The amount will be  significantly  less than the amount
sought by the plaintiff and the Company estimates its liability  associated with
the action to be between $500 and $1,500.  The Company believes its liability is
at the low end of this range.

                                       10
<PAGE>

                          AMCAST INDUSTRIAL CORPORATION
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS

Cautionary Statements Under the Private Securities Reform Act of 1995

Certain  statements in this Report,  in the Company's press releases and in oral
statements  made by or with the approval of an authorized  executive  officer of
the  Company  constitute  "forward-looking  statements"  as that term is defined
under the Private  Securities  Litigation  Reform Act of 1995. These may include
statements  projecting,   forecasting  or  estimating  Company  performance  and
industry trends.  The achievement of the projections,  forecasts or estimates is
subject to certain risks and uncertainties. Actual results and events may differ
materially  from those  projected,  forecasted or  estimated.  Factors which may
cause  actual  results  to differ  materially  from  those  contemplated  by the
forward-looking  statement,  include,  among others: general economic conditions
less  favorable than expected,  fluctuating  demand in the automotive  industry,
less favorable than expected growth in sales and profit margins in the Company's
product  lines,  increased  competitive  pressures in the  Company's  Engineered
Components  and Flow Control  Products  segments,  effectiveness  of  production
improvement plans, cost of raw materials,  inherent  uncertainties in connection
with  international  operations  and  foreign  currency  fluctuations  and labor
relations  at the  Company  and its  customers.  The  following  discussion  and
analysis  provides  information  which  management  believes  is  relevant to an
understanding of the Company's  consolidated results of operations and financial
condition.  This discussion  should be read in conjunction with the accompanying
consolidated condensed financial statements and notes thereto.

Divestitures

During the first quarter of fiscal 1999, the Company sold Superior Valve Company
("Superior  Valve") for $35.6  million in cash.  The  transaction  resulted in a
pre-tax gain of $9.0 million. The business, acquired by Amcast in 1986, produces
specialty  valves and related  products for the  compressed  gas and  commercial
refrigeration markets.

Results of Operations

Consolidated  net sales increased by 3.4% to $163.2 million compared with $157.8
million in the third  quarter of fiscal 1999.  Increased  sales of the Company's
performance-critical  aluminum components and European wheels were partly offset
by a decline  in North  American  wheel  sales and by lower  volumes in the Flow
Control Products segment.  Favorable pricing,  including product mix, and higher
volumes increased  consolidated  sales by 3.6%, and 0.2%,  respectively.  Higher
aluminum costs reflected in the selling price of automotive  products  increased
sales by 3.8%.  These gains were  partially  offset by a 4.2% reduction in sales
due to a weaker Italian lira. By segment,  Engineered Components sales increased
by 7.3%  compared  with the third  quarter of fiscal  1999,  while Flow  Control
Products sales decreased by 7.5%.

                                       11
<PAGE>

For the first nine months of fiscal 2000,  consolidated  net sales  increased by
3.1% to $459.3 million compared with $445.5 million in the prior year. Increased
sales of the Company's  performance-critical  aluminum  components  and European
wheels  were  partly  offset by a decline in North  American  wheel sales and by
lower volumes in the Flow Control Products segment. Favorable pricing (primarily
as a result of  higher  aluminum  costs  reflected  in the  sales of  automotive
products) and a better  product mix plus higher volumes  increased  consolidated
sales by 6.4% and 1.6%,  respectively.  These gains were  partially  offset by a
1.0% reduction in sales from divested operations and a 3.9% reduction due to the
weaker  Italian lira.  During the first quarter of fiscal 1999, the Company sold
Superior  Valve  which had  contributed  $4.6  million  to net sales of the Flow
Control  Products segment prior to its sale. By segment,  Engineered  Components
sales  increased  by 6.1%  compared  with the prior  year,  while  Flow  Control
Products sales decreased by 5.4%.

Gross  profit for the third  quarter of fiscal 2000  decreased  by 8.0% to $21.9
million,  while year-to-date  gross profit fell by 18.8% to $59.9 million.  As a
percentage of sales,  gross profit was 13.4% for the third quarter and 13.0% for
the first nine months of fiscal 2000  compared with 15.1% and 16.6% for the same
periods of 1999.  A  combination  of temporary  internal  and  external  factors
depressed  both gross profit and  operating  profit,  including the inability to
pass  through  certain  material  costs,  the loss of two large  brass  products
customers,  reduced volumes for certain  aluminum wheel styles,  and higher than
expected  operating  costs in the second  quarter in the Flow  Control  Products
segment.  These factors are discussed more fully under business  segments below.
These  difficulties  offset operating cost improvements  which took place during
the third quarter of fiscal 2000 at the  Company's  Ohio  suspension  components
plant and its wheel manufacturing operations in Indiana.

Selling,  general and administrative (SG&A) expenses decreased slightly, both in
total and as a percentage of sales, in the third quarter of fiscal 2000 compared
with prior year.  As a percentage  of sales,  SG&A expense was 8.8% in the third
quarter and 9.4% for the first nine months of fiscal 2000 compared with 9.1% and
9.5% for the same periods of fiscal 1999. This favorable  decrease resulted from
lower pension expense and the Company's  cost-reduction program initiated at the
end of its second fiscal quarter.

In early  March,  the Company  implemented  an 8% salaried  workforce  reduction
across all its North American operations.  At the same time, global restrictions
were  placed on other  controllable  operating  and  administrative  costs.  The
Company  expects  the  combination  of  the  workforce  and  overhead   spending
reductions  to have a  significantly  favorable  impact  on the  fourth  quarter
results.

The Company's pre-tax share of losses from Casting Technology Company (CTC), the
Company's  joint  venture with Izumi  Industries,  was $1.7 million in the third
quarter of fiscal 2000 compared with income of $0.2 million in the third quarter
of fiscal 1999. The Company's  year-to-date pre-tax share of losses from CTC was
$1.2  million in fiscal  2000  compared  with a $0.9  million  loss for the same
period in fiscal 1999.  During the third  quarter of fiscal  2000,  CTC incurred
excessive costs to meet a customer's  extraordinarily high demand. CTC's results
for fiscal 1999 were negatively  impacted by foreign  exchange losses  resulting
from the strengthening of the yen versus the US dollar, operating inefficiencies
resulting from efforts to

                                       12
<PAGE>

meet extremely high customer demand early in the year, and  difficulties  hiring
and retaining skilled labor which led to manufacturing inefficiencies and higher
scrap.

Interest  expense  was $3.3  million and $3.1  million in the third  quarters of
fiscal 2000 and 1999 and $9.7 million and $10.1 million in the first nine months
of fiscal 2000 and 1999, respectively.

The effective tax rate was 33.8% and 38.0% for the third quarters of fiscal 2000
and 1999 and 36.9% and 38.8% for the first nine  months of fiscal 2000 and 1999,
respectively.  The decrease in the effective tax rate is due to lower  effective
state tax rates.

Flow Control Products Net sales for the Flow Control Products segment were $38.1
million for the third quarter of fiscal 2000 compared with $41.2 million for the
same period of fiscal 1999. Favorable pricing increased sales by 1.5%, offset by
a 9.0%  decrease in sales caused by lower  volume of copper and brass  products.
Operating  income in the third quarter of fiscal 2000 was $6.4 million  compared
with $7.0 million for the same period of fiscal 1999. Operating income benefited
from the  favorable  pricing,  but was  adversely  affected by lower  volume and
higher material costs.

Engineered  Components  Net sales for the  Engineered  Components  segment  were
$125.1 million for the third quarter of fiscal 2000 compared with $116.6 million
for the same period of fiscal  1999.  Sales  increased  by 3.3% due to volume as
sales of control  arms and  European  wheels more than offset a decline in North
American wheel sales. Higher pricing, in the form of aluminum cost pass-throughs
reflected  in the  selling  price of the  Company's  products,  and a  favorable
product mix increased sales by 5.1% and 4.6%,  respectively.  However,  a weaker
Italian lira in the third  quarter of fiscal 2000  compared with the same period
in fiscal 1999 reduced sales by 5.7%.  Operating  income in the third quarter of
fiscal 2000 was $2.9  million,  down from $5.1  million in the third  quarter of
1999.  The volume and mix of  products  sold had an  unfavorable  impact of $1.1
million. Material costs that could not be passed along to customers in the third
quarter under existing pricing  formulas,  primarily at the Company's  Speedline
unit, also reduced operating income by approximately $1.5 million.

Liquidity and Capital Resources

For the first nine months of fiscal 2000,  operations provided net cash of $17.9
million  compared with $42.5 million provided in the first nine months of fiscal
1999. An $8.7 million increase in working capital requirements in the first nine
months of fiscal 2000 offset the positive cash flow generated by net income plus
the non-cash  benefits of  depreciation  of $28.8 million.  The working  capital
increase  primarily reflects a reduction from the high level of accounts payable
at August 31, 1999 related to capital expenditures.

Investing  activities used net cash of $15.3 million in the first nine months of
fiscal 2000  compared with $0.5 million  provided in fiscal 1999.  Proceeds from
the sale of Superior Valve in

                                       13
<PAGE>

the first quarter of fiscal 1999 provided  $35.6  million,  which  primarily was
used to reduce  long-term debt.  Capital  spending  totaled $12.9 million in the
first nine months of fiscal 2000,  significantly  less than the $34.1 million in
the comparable  period of fiscal 1999.  During the third quarter of fiscal 2000,
the Company  resolved several matters with the former owners of Speedline which,
among other  items,  resulted in a purchase by the Company of 478,240  shares of
the  Company's  common stock held by  Speedline's  former  owners and a net cash
payment to the former owners of $2.5 million.  At May 28, 2000,  the Company had
$2.9 million of commitments for additional capital  expenditures,  primarily for
the Engineered Components segment.

Financing  activities  used $6.7  million  in cash in the first  nine  months of
fiscal  2000  compared  with net cash  used of $45.4  million  in  fiscal  1999.
Additional financing included $59.5 million under the Company's revolving credit
agreement  which was partly used to pay down  short-term  borrowings made in the
first  quarter of fiscal  2000.  For the first nine months of fiscal  2000,  the
Company had $17.0 of net  short-term  borrowings  and received $6.5 million from
the  sale-leaseback of equipment.  Financing  activities also included long-term
debt repayments of $84.8 million,  dividend  payments of $3.7 million,  and $1.3
million for repurchases of the Company's common stock.  Long-term debt was 51.7%
of total  capital at May 28, 2000 and 50.5% at August 31, 1999.  The Company may
borrow up to $150 million under a credit agreement that expires August 14, 2002.
During the first and third  quarters of fiscal  2000,  the  Company  amended its
credit agreement. Among other things, these amendments changed certain financial
covenants  (including  the interest  coverage and  debt-to-earnings  ratios) and
added certain affirmative covenants.  Both amendments also included increases to
the  applicable  LIBOR margin.  Subsequent to the third quarter  amendment,  the
Company  reduced the amount of the credit  agreement  from $200  million to $150
million.  At May 28,  2000,  $81.3  million  was  outstanding  under the  credit
agreement, and $21.1 million was outstanding under available lines of credit. At
May 28, 2000, the Company had unused  borrowing  capacity of $35.1 million under
its most  restrictive  debt covenant.  Speedline  also has  short-term  lines of
credit totaling $25.8 million, of which $22.1 million was available at April 30,
2000. The Company considers these external sources of funds, together with funds
expected to be  generated  from  operations,  to be  adequate to meet  operating
needs.

Year 2000

The Company has not experienced any significant year 2000 related  complications
regarding any of its critical  vendors or major customers.  Overall,  any issues
experienced to date as a result of year 2000 issues have been  insignificant and
have had no material impact on the Company's consolidated results of operations,
financial position or cash flows.

Contingencies

The Company, as is normal for the industry in which it operates,  is involved in
certain legal proceedings and subject to certain claims and site  investigations
that  arise  under  the  environmental  laws and  which  have  not been  finally
adjudicated. To the extent possible, with

                                       14
<PAGE>

the information  available,  the Company regularly  evaluates its responsibility
with  respect to  environmental  proceedings.  The  factors  considered  in this
evaluation are more fully described in the Commitments and Contingencies note to
the consolidated  condensed financial  statements.  At May 28, 2000, the Company
had reserves of $1.5 million for  environmental  liabilities.  The Company is of
the opinion that, in light of its existing reserves, its liability in connection
with environmental  proceedings should not have a material adverse effect on its
financial condition or results of operation. The Company is presently unaware of
the existence of any potential material  environmental  costs that are likely to
occur in connection with the disposition of any of its property.

                                       15
<PAGE>


                          AMCAST INDUSTRIAL CORPORATION

Item 3 Quantitative and Qualitative Disclosures About Market Risk

The Company is exposed to market risk from changes in foreign currency  exchange
rates and interest  rates as part of its normal  operations.  There have been no
material  changes in the  Company's  exposure to these items since the Company's
disclosure in Item 7A, Part II of Form 10-K for the year ended August 31, 1999.

PART II - OTHER INFORMATION

Item 4 - Submission of Matters to a Vote of Security Holders

None

Item 6 - Exhibits and Reports on Form 8-K

a)  Exhibits

Exhibit  4.1 - Creditor and  Intercreditor  agreement dated August 14, 1997
                as subsequently amended through May 28, 2000

Exhibit 10.1 - Amended  and  Restated  Executive  agreement  between  the
                Company  and Leo W. Ladehoff  dated July 10, 2000 as amended and
                restated through July 10, 2000

Exhibit 27.1 - Financial  Data Schedule for the  nine-month  period ended
                May 28, 2000. *

Exhibit 99.1 - Amended  and  restated  Amcast  Nonqualified  Supplemental
                Benefit Plan dated July 10, 2000 as amended and restated through
                July 10, 2000

* Schedule submitted in electronic format only

b)  Reports on Form 8-K:

    No reports on Form 8-K were filed by the Company  during the  quarter  ended
    May 28, 2000

                                       16
<PAGE>

                               S I G N A T U R E S

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                              AMCAST INDUSTRIAL CORPORATION
                                              -----------------------------
                                              (Registrant Company)


Date:  July 12,  2000                         By: /s/ J. H. Shuey
      ---------------                             ---------------
                                              John H. Shuey
                                              Chairman, President and
                                              Chief Executive Officer
                                              (Principal Executive Officer)


Date: July 12,  2000                          By: /s/ D. D. Watts
      --------------                              ----------------
                                              Douglas D. Watts
                                              Vice President, Finance
                                              (Principal Financial Officer)


Date: July 12,  2000                          By: /s/ M.D. Mishler
      --------------                              -----------------
                                              Mark D. Mishler
                                              Corporate Controller
                                              (Principal Accounting Officer)

                                       17
<PAGE>