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 November 28, 1999           Commission File Number 1-9967
                                                                         ------



                          AMCAST INDUSTRIAL CORPORATION
             (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 November 28, 1999 -
8,956,920 shares.
<PAGE>
                          AMCAST INDUSTRIAL CORPORATION
                               REPORT ON FORM 10-Q
                     FOR THE QUARTER ENDED NOVEMBER 28, 1999

                                    I N D E X




PART I - FINANCIAL INFORMATION                                           PAGE

      Item 1  -  Financial Statements:

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

                 Consolidated Condensed Statements of Income -
                 for the Three Months Ended November 28, 1999
                 and November 29, 1998                                       4

                 Consolidated Condensed Statements of Retained Earnings -
                 for the Three Months Ended November 28, 1999
                 and November 29, 1998                                       4

                 Consolidated Condensed Statements of Cash Flows -
                 for the Three Months Ended November 28, 1999
                 and November 29, 1998                                       5

                 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 Market Risk                                           16

PART II - OTHER INFORMATION

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


SIGNATURES                                                                  17

<PAGE>

PART I - FINANCIAL INFORMATION

<TABLE>
<CAPTION>

                          AMCAST INDUSTRIAL CORPORATION
            CONSOLIDATED CONDENSED STATEMENTS OF FINANCIAL CONDITION
                                ($ in thousands)
                                   (unaudited)
<S>                                                   <C>            <C>
                                                      November 28    August 31
                                                         1999           1999

                                                      -----------    -----------
ASSETS

Current Assets
    Cash and cash equivalents                            $ 12,981       $ 6,928
    Accounts receivable                                   101,987        97,819
    Inventories                                            83,194        77,166
    Other current assets                                   20,731        21,144
                                                      -----------    -----------
                               Total Current Assets       218,893       203,057

Property, Plant, and Equipment                            404,665       401,012
    Less accumulated depreciation                        (151,042      (144,254)
                                                      -----------    -----------
                                                          253,623       256,758

Goodwill                                                   60,857        61,261
Other Assets                                               19,644        12,410
                                                      -----------    -----------
                                                        $ 553,017     $ 533,486
                                                      ===========    ===========


LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
    Short-term debt                                       $ 5,224       $ 4,673
    Current portion of long-term debt                       4,930         6,182
    Accounts payable                                       80,923        82,396
    Accrued expenses                                       39,746        40,851
                                                      -----------    -----------

                          Total Current Liabilities       130,823       134,102

Long-Term Debt - less current portion                     194,063       174,061
Deferred Income Taxes                                      32,854        32,775
Deferred Liabilities                                       21,956        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 - 9,208,529 shares                            9,209         9,209
    Capital in excess of stated value                      78,998        79,020
    Accumulated other comprehensive income (losses)         1,305        (1,018)
    Retained earnings                                      88,023        87,796
    Cost of 251,609 and 253,609 common
       shares in treasury                                  (4,214)       (4,241)
                                                      -----------    -----------
                                                          173,321       170,766
                                                      -----------    -----------
                                                        $ 553,017     $ 533,486
                                                      ===========    ===========
</TABLE>

See notes to consolidated financial statements

                                       3
<PAGE>
<TABLE>
<CAPTION>
                          AMCAST INDUSTRIAL CORPORATION
                   CONSOLIDATED CONDENSED STATEMENTS OF INCOME
                              AND RETAINED EARNINGS
                    ($ in thousands except per share amounts)
                                   (unaudited)

                                                          Three Months Ended
                                                      --------------------------
<S>                                                   <C>           <C>

                                                      November 28   November 29
                                                          1999         1998
                                                      -----------   -----------
Consolidated Condensed Statements of Income

Net sales                                               $ 146,079     $ 146,024
Cost of sales                                             127,453       121,177
                                                      -----------   -----------
                                 Gross Profit              18,626        24,847
Selling, general and administrative expenses               13,603        13,677
Gain on sale of business                                        -        (9,023)
                                                      -----------   -----------
                              Operating Income              5,023        20,193
Equity in (income) loss of joint venture and
    other (income) and expense                               (248)           51
Interest expense                                            2,823         3,585
                                                      -----------    ----------
                    Income before Income Taxes              2,448        16,557
Income taxes                                                  962         6,528
                                                      -----------   -----------

                                    Net Income            $ 1,486      $ 10,029
                                                      ===========   ===========

Consolidated Condensed Statements of Retained Earnings

Beginning retained earnings                              $ 87,796      $ 73,588
Net income                                                  1,486        10,029
Dividends                                                  (1,254)       (1,289)
Stock awards                                                   (5)            -
                                                      -----------   -----------
                       Ending Retained Earnings          $ 88,023      $ 82,328
                                                      ===========   ===========

Basic earnings per share                                   $ 0.17        $ 1.09
                                                      ===========   ===========

Diluted earnings per share                                 $ 0.17        $ 1.09
                                                      ===========   ===========

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

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

</TABLE>

See notes to consolidated financial statements.

                                       4
<PAGE>

<TABLE>
<CAPTION>
                          AMCAST INDUSTRIAL CORPORATION
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                ($ in thousands)
                                   (unaudited)
                                                          Three Months Ended
                                                      --------------------------
<S>                                                   <C>            <C>
                                                      November 28    November 29
                                                         1999           1998
                                                      -----------    -----------

Operating Activities
       Net income                                         $ 1,486      $ 10,029
       Depreciation and amortization                        8,040         8,228
       Gain on sale of business                                 -        (9,023)
       Deferred liabilities                                  (148)       (2,466)

       Changes in assets and liabilities:
             Accounts receivable                          (11,438)        2,853
             Inventories                                   (6,073)       (3,706)
             Other current assets                             397        (1,111)
             Accounts payable                              (1,416)        3,849
             Accrued liabilities                           (1,068)        7,588
             Other                                           (242)        1,637
                                                      ------------   -----------

        Net Cash (Used) Provided by Operations            (10,462)       17,878

Investing Activities
       Additions to property, plant, and equipment         (5,595)       (8,896)
       Proceeds from sale of business                           -        35,604
       Other                                                  230            19
                                                      -----------    -----------

        Net Cash (Used) Provided by Investing
            Activities                                     (5,365)       26,727

Financing Activities
       Additions to long-term debt                              -        15,000
       Reduction in long-term debt                         (2,461)      (42,379)
       Short-term borrowings                               24,262         1,371
       Dividends                                           (1,254)       (1,289)
       Purchase of treasury shares                              -          (242)
       Proceeds from sale leaseback                         1,340             -
                                                      -----------    -----------

        Net Cash Provided (Used) by Financing
            Activities                                     21,887       (27,539)

Effect of exchange rate changes on cash                        (7)          195
                                                      -----------    -----------

Net change in cash and cash equivalents                     6,053        17,261

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

      Cash and Cash Equivalents at End of Period         $ 12,981      $ 24,283
                                                      ===========    ===========

</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>
                                                  Three Months Ended
                                                ---------------------------
<S>                                             <C>             <C>
                                                November 28     November 29
                                                    1999           1998
                                                -----------     -----------

Net income                                          $ 1,486        $ 10,029
Foreign currency translation adjustments              2,323           3,884
                                                -----------     -----------
                                                    $ 3,809        $ 13,913
                                                ===========     ===========

</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>

                          AMCAST INDUSTRIAL CORPORATION
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                   ($ in thousands, except per share amounts)
                                   (unaudited)

Inventories

The major components of inventories are:

<TABLE>

<S>                                              <C>              <C>
                                                 November 28      August 31
                                                    1999            1999
                                                ------------    -----------

Finished products                                    $42,566        $36,979
Work in process                                       22,739         21,833
Raw materials and supplies                            20,336         20,801
                                                ------------    -----------
                                                      85,641         79,613
Less amount to reduce certain
      inventories to LIFO value                        2,447          2,447
                                                ------------    -----------

                                                     $83,194        $77,166
                                                ============    ===========
</TABLE>


Long-Term Debt

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

<TABLE>

<S>                                               <C>             <C>
                                                  November 28     August 31
                                                      1999          1999
                                                -------------   -----------

Senior notes                                         $ 50,000      $ 50,875
Revolving credit notes                                110,316       112,793
Lines of credit                                        23,700             -
Industrial revenue bonds                                5,750         5,750
Other debt                                              3,238         4,014
Capital leases                                          5,989         6,811
                                                -------------   -----------
                                                      198,993       180,243
Less current portion                                    4,930         6,182
                                                -------------   -----------

                                                    $ 194,063     $ 174,061
                                                =============   ===========
</TABLE>

During  the  first  quarter of  fiscal  2000,  the  Company  amended  its credit
agreement.  The amendments  included  changes to certain  restrictive  covenants
including the interest coverage and debt-to-earnings ratios. The amendments also
included increases to the applicable LIBOR margin.

                                       7
<PAGE>


                          AMCAST INDUSTRIAL CORPORATION
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                   ($ in thousands, except per share amounts)
                                   (unaudited)

Earnings Per Share

The following table reflects the calculations for basic and diluted earnings per
share for the three-month periods ended November 28, 1999 and November 29, 1998,
respectively.



<TABLE>
<CAPTION>

                                                     Three Months Ended
                                                ---------------------------
<S>                                             <C>             <C>
                                                November 28     November 29
                                                    1999           1998
                                                -----------     -----------

Net income                                          $ 1,486        $ 10,029
                                                ===========     ===========

Basic Earnings per Share:
Basic shares                                          8,956           9,192
                                                ===========     ===========

Net income                                          $ 0.17           $ 1.09
                                                ===========     ===========

Diluted Earnings per Share:
Basic shares                                          8,956           9,192
Stock options                                             6              10
                                                -----------     -----------

Diluted shares                                        8,962           9,202
                                                ===========     ===========

Net income                                           $ 0.17          $ 1.09
                                                ===========     ===========

</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 November 28, 1999,  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>
                                  Net Sales               Operating Income
                          --------------------------  --------------------------
                          For the Three Months Ended  For the Three Months Ended
                          --------------------------  --------------------------
<S>                       <C>           <C>           <C>           <C>
                          November 28   November 29   November 28   November 29
                              1999          1998         1999          1998
                          -----------   -----------   -----------   -----------

Flow Control Products        $ 35,369      $ 39,216       $ 6,014       $ 5,737
Engineered Components         110,710       106,808           949         8,077
Corporate                           -             -        (1,940)       (2,644)
                          -----------   -----------   -----------   -----------
                              146,079       146,024         5,023        11,170
Disposition of businesses           -             -             -        (9,023)
Equity in (income) loss
   of joint venture and
   other (income) expense           -             -          (248)           51
Interest expense                    -             -         2,823         3,585
                          -----------   -----------   -----------   -----------

Total net sales and
  income before taxes       $ 146,079     $ 146,024       $ 2,448      $ 16,557
                          ===========   ===========   ===========   ===========

</TABLE>

                                       9
<PAGE>


                          AMCAST INDUSTRIAL CORPORATION
              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                   ($ in thousands, except per share amounts)
                                   (unaudited)

Commitments and Contingencies

At November  28, 1999,  the Company has  committed  to capital  expenditures  of
$3,326, 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
November  28,  1999,  the  Company's  accrued   undiscounted  reserve  for  such
contingencies was $1,580.

     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,  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.

Acquisitions and 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 facility, acquired by Amcast in 1986, produces
specialty  valves and related  products for the  compressed  gas and  commercial
refrigeration markets.

Results of Operations

Demand for the Company's products was strong in the first quarter of fiscal 2000
as consolidated  net sales were $146.1 million  compared with $146.0 million for
the first quarter of fiscal 1999.  Higher volume and favorable pricing increased
sales by 4.0% and  1.5%,  respectively,  offset  by a  reduction  in sales  from
divested  operations  and a stronger  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 3.7% compared with the first quarter of
fiscal 1999, while Flow Control Products sales decreased by 9.8%.

Gross  profit for the first  quarter  of fiscal  2000  decreased  25.0% to $18.6
million.  As a percentage of sales, gross profit was 12.8% for the first quarter
compared with 17.0% for the same period of 1999. The decrease in gross profit is
primarily due to the  continuation  of operating  issues  encountered in several
manufacturing  locations  in the  third and  fourth  quarters  of  fiscal  1999,
discussed more fully under Business Segments below.

                                       11
<PAGE>


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

Selling,  general and administrative (SG&A) expenses remained constant,  both in
dollar  amount and as a  percentage  of sales.  As a percentage  of sales,  SG&A
expense was 9.3% and 9.4% in the first  quarters of fiscal 2000 and fiscal 1999,
respectively.

The Company's pre-tax share of income from Casting Technology Company (CTC), the
Company's  joint  venture with Izumi  Industries,  was $0.1 million in the first
quarter of fiscal 2000 compared with a $0.8 million loss in the first quarter of
fiscal 1999.  CTC's results for the first quarter of fiscal 1999 were negatively
impacted by foreign  exchange  losses  resulting from the  strengthening  of the
Japanese  yen,   operating   inefficiencies   resulting  from  efforts  to  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 $2.8 million for the first quarter of fiscal 2000 compared
with $3.6 million for the first quarter of fiscal 1999. The decrease in interest
expense is primarily due to significant debt reductions late in fiscal 1999 and,
to a lesser degree, lower interest rates.

The effective tax rate was 39.3% and 39.4% for the first quarters of fiscal 2000
and 1999, respectively.

<TABLE>
<CAPTION>

Results by Business Segment (unaudited)
($ in thousands)

                                  Net Sales               Operating Income
                          --------------------------  --------------------------
                          For the Three Months Ended  For the Three Months Ended
                          --------------------------  --------------------------
<S>                       <C>           <C>           <C>           <C>
                          November 28   November 29   November 28   November 29
                              1999          1998         1999          1998
                          -----------   -----------   -----------   -----------

Flow Control Products        $ 35,369      $ 39,216       $ 6,014       $ 5,737
Engineered Components         110,710       106,808           949         8,077
Corporate                           -             -        (1,940)       (2,644)
                          -----------   -----------   -----------   -----------
                              146,079       146,024         5,023        11,170
Disposition of businesses           -             -             -        (9,023)
Equity in (income) loss
   of joint venture and
   other (income) expense           -             -          (248)           51
Interest expense                    -             -         2,823         3,585
                          -----------   -----------   -----------   -----------

Total net sales and
  income before taxes       $ 146,079     $ 146,024       $ 2,448      $ 16,557
                          ===========   ===========   ===========   ===========
</TABLE>

                                       12
<PAGE>



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

Net sales for the Flow Control Products segment were $35.4 million for the first
quarter of fiscal 2000 compared with $39.2 million for the same period of fiscal
1999. The decrease reflects a $4.6 million reduction of sales due to the sale of
Superior Valve early in the first quarter of fiscal 1999. Better pricing for the
Company's copper and brass plumbing fittings  increased sales by 4.6% and helped
to offset the reduction in net sales. Operating income increased 4.8% due to the
effect of higher pricing and slightly lower material costs,  partially offset by
modestly higher operating costs.

Net sales for the  Engineered  Components  segment  were $110.7  million for the
first quarter of fiscal 2000 compared with $106.8 million for the same period of
fiscal  1999.  Sales  increased  by 6.1% due to  volume  and 1.2% due to  higher
material  costs  which  are  reflected  in the  selling  price of the  Company's
products. Sales of aluminum components were up significantly;  however, aluminum
wheel  sales  in the  first  quarter  were not as  strong  as the  heavy  demand
experienced in the  comparable  period last year stemming from the ending of the
extended  General  Motors work  stoppage.  A stronger  Italian lira in the first
quarter of fiscal 2000  compared  with the same  period in fiscal  1999  reduced
sales by 3.6%.  Operating income was $0.9 million for the first quarter compared
with $8.1 million for the comparable  prior-year period as operating  challenges
continued.  Operating income was lower than the prior year due to high operating
costs at the Company's Gas City, Indiana, wheel plant and the Wapakoneta,  Ohio,
suspension  components  plant as well as the lower wheel demand.  Low yields and
labor  inefficiencies  continue to drive the higher  production  costs.  Product
design and process  improvements have been implemented at the Midwest plants and
management has initiated  hiring practice  changes to attract and retain skilled
labor.  The Company has made  progress,  but some negative  impact on the second
quarter of fiscal 2000 results is anticipated.

Liquidity and Capital Resources

For the first  quarter of fiscal  2000,  net cash used by  operations  was $10.5
million  compared  with net cash provided of $17.9 million for the first quarter
of fiscal  1999.  Cash  provided  by net income  plus the  non-cash  benefits of
depreciation  totaled  $9.5 million for fiscal 2000;  however,  a $20.0  million
increase in working  capital  requirements  produced the negative cash flow. The
first quarter's  working  capital  increase  primarily  reflects higher accounts
receivable  due to the  timing  of cash  receipts  from  the  Company's  largest
customers and increased inventory levels to meet customer requirements.

Investing  activities  used net cash of $5.4 in the first quarter of fiscal 2000
compared  with net cash provided of $26.7 million in the first quarter of fiscal
1999.  Proceeds from the sale of Superior  Valve  provided  $35.6 million in the
first  quarter of fiscal 1999 which were  primarily  used for the  reduction  of
long-term debt.  Capital  spending  totaled $5.6 million in the first quarter of
fiscal 2000,  compared with $8.9 million in the first quarter of fiscal 1999. At
November 28, 1999,  the Company had $3.3 million of  commitments  for additional
capital expenditures, primarily for the Engineered Components segment.

                                       13
<PAGE>


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

Financing  activities provided $21.9 million in net cash in the first quarter of
fiscal 2000  versus net cash used of $27.5  million in fiscal  1999.  Additional
financing  included $24.3 million of net short-term  borrowings and $1.4 million
from  the  sale-leaseback  of  equipment.  Financing  activities  also  included
long-term debt repayments of $2.5 million and dividend payments of $1.3 million.
Long-term  debt was 52.8% of total  capital at November 28, 1999  compared  with
50.5% at August 31,  1999.  The  Company may borrow up to $200  million  under a
credit agreement that expires August 14, 2002. During the first quarter of 2000,
the Company amended its credit agreement.  These amendments  included changes to
certain   restrictive    covenants   including   the   interest   coverage   and
debt-to-earnings   ratios.   The  amendments  also  included  increases  to  the
applicable LIBOR margin. In addition, the Company maintains bank lines of credit
under  which it may borrow up to $27  million.  At  November  28,  1999,  $110.3
million  was  outstanding  under the  credit  agreement  and $23.7  million  was
outstanding  under  available bank lines of credit.  In addition,  Speedline has
short-term  lines of credit  totaling $29.9 million,  of which $26.8 million was
available  at October 31, 1999.  At November  28,  1999,  the Company had unused
borrowing  capacity of $21.4 million,  under its most restrictive debt covenant.
The Company  considers  these  external  sources of funds,  together  with funds
generated from operations, to be adequate to meet operating needs.

Year 2000

During 1999,  the Company  designated a year 2000 Steering  Committee and a task
force in each of its  operations to ensure  compliance  of its computer  systems
including  computers utilized in production,  production support equipment,  and
plant  infrastructure  systems.  During  1999,  the Company also worked with its
vendors to assess their  readiness.  The Company  engaged an  independent  third
party to  evaluate  its year  2000  remediation  and  preparedness  at  selected
locations  in the  fourth  quarter  of  fiscal  1999.  The  Company's  year 2000
preparedness  team continued to audit all locations in the first quarter of 2000
to ensure the recommendations had been followed.

The   Company's   remediation   program  was  executed   primarily  by  internal
resources.The  Company  estimates  that it spent  between  $1.3 million and $1.5
million for its year 2000  remediation  program.  For the most part, the Company
uses  third-party  supplied  computer  programs and packages for its information
technology systems. Certain of those systems were already year 2000 compliant as
supplied by the vendor. In the Flow Control Products  segment,  certain software
packages  had been  modified  by the  Company.  As of  January  1, 2000 all Flow
Control systems were year 2000 compliant.  In the Engineered Components segment,
some  facilities  were  utilizing  compliant  releases  of  software.  The North
American  automotive  group is also in the process of  installing  an enterprise
resource  planning  (ERP) system as an upgrade in  functionality  that will also
improve business processes. The ERP system also remediated year 2000 issues with
the systems  formerly used in certain plants.  The entire project is expected to
take approximately three years to complete.  Cost of the project is estimated to
be between $5.0  million and $6.0  million for  hardware and software  including
training and  installation.  The costs have been funded  through  internal  cash
flow.  At  the  Company's  Speedline  unit,  internal  resources  evaluated  the
compliant status of the computer systems and made any necessary  upgrades and/or
replacements  to  ensure  year  2000  preparedness.  As of  January  1, 2000 all
Engineered Components systems were year 2000 ready.

                                       14
<PAGE>
                          AMCAST INDUSTRIAL CORPORATION
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS

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 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 November 28,  1999,  the Company had reserves of $1.6
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 6 - Exhibits and Reports on Form 8-K

a)  Exhibits

Exhibit 4.1 - Third Amendment Agreement dated November 5, 1999, to the
                  $200,000,000   Credit  Agreement   between  Amcast  Industrial
                  Corporation and KeyBank National  Association dated August 14,
                  1997.

Exhibit 4.2 - Fourth  Amendment  Agreement dated November 28, 1999, to
                  the $200,000,000  Credit Agreement  between Amcast  Industrial
                  Corporation and KeyBank National  Association dated August 14,
                  1997.

Exhibit 10.1 - Amcast Industrial Corporation Nonqualified Supplementary
                  Benefit Plan effective as of June 1, 1999, as restated
                  through January 12, 2000


Exhibit 27.1 - Financial Data Schedule for the three-month period ended
                  November 29, 1999.*

       * 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
    November 29, 1999.


                                       16
<PAGE>


                          AMCAST INDUSTRIAL CORPORATION


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


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


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


















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