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UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
 þ
    
    Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the quarterly period ended March 31, 2005,or
 o
    
    Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the transition period from            to          .
 Commission
File Number 0-17028
 Ironton Iron, Inc.
  Ohio
(State or other jurisdiction of
incorporation or organization)
    
    31-1117407
(IRS Employer
Identification No.)
 5445 Corporate Drive, Suite 200, Troy, Michigan
(Address of principal executive offices)
    
    48098-2683
(Zip code)
 
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TABLE OF CONTENTS
 PART I. FINANCIAL INFORMATIONItem 1. Financial StatementsStatements of Net Liabilities in LiquidationStatement of DeficiencyNotes to Interim Condensed Financial StatementsItem 2. Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosure about Market RisksItem 4. Controls and ProceduresPART II. OTHER INFORMATIONItem 1. Legal ProceedingsItem 6. Exhibits and Reports on Form 8-KSignatureExhibit IndexCertification by the Chief Executive Officer and Chief Financial Officer Pursuant to Section 302Certification of Periodic Financial Report by the Chief Executive Officer and Chief Financial Officer Pursuant to Section 906
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Item 1. Financial Statements
 Ironton Iron, Inc.
(In Process of Orderly Shutdown)
 
 Statements of Net Liabilities in Liquidation  (in thousands of dollars)
 March 31,
    
    
    December 31,2005
    
    
    2004(Unaudited)Assets:Due from affiliates
    
    $
    
    
    
    $
    Liabilities:Liabilities subject to compromise
    
    
    
    
    
    
    Net liabilities in liquidation
    
    $
    
    
    
    $
    
 See accompanying notes.
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##### Table of Contents



Ironton Iron, Inc.
(In Process of Orderly Shutdown)
 
 Statement of Deficiency  (in thousands of dollars)
 Three Months EndedMarch 31, 2005(Unaudited)Net liabilities in liquidation at December 31, 2004
    
    $
    Net liabilities in liquidation at March 31, 2005
    
    $
    
 See accompanying notes.
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##### Table of Contents



Ironton Iron, Inc.
(In Process of Orderly Shutdown)
 
 Notes to Interim Condensed Financial Statements
 March 31, 2005 (Unaudited)
 1. Background and Summary of Significant Accounting Policies
 Background and Summary of Significant Developments
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Ironton Iron, Inc.
(In Process of Orderly Shutdown)
 Notes to Interim Condensed Financial Statements
 March 31, 2005 (Unaudited)
 1. Background and Summary of Significant Accounting Policies (continued)
 Proceedings under Chapter 11 of the Bankruptcy Code
 INTERMET Corporation, et al.
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Ironton Iron, Inc.
(In Process of Orderly Shutdown)
 Notes to Interim Condensed Financial Statements
 March 31, 2005 (Unaudited)
 1. Background and Summary of Significant Accounting Policies (continued)
 Basis of Accounting
   Liabilities Subject to Compromise
  Use of Estimates
  2. Income Taxes
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Ironton Iron, Inc.
(In Process of Orderly Shutdown)
 Notes to Interim Condensed Financial Statements
 March 31, 2005 (Unaudited)
 3. Related Party Transactions
   4. Commitments and Contingencies
  5. Guarantee of Debt
 Senior Notes
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##### Table of Contents



Ironton Iron, Inc.
(In Process of Orderly Shutdown)
 Notes to Interim Condensed Financial Statements
 March 31, 2005 (Unaudited)
 5. Guarantee of Debt (continued)
 Bank Credit Agreement
   Debtor-in-Possession Credit Facility
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Forward Looking Statement
 The following Item 2. Managements Discussion and Analysis of Financial Condition and Results of
Operations and Item 3. Quantitative and Qualitative Disclosures about Market Risk contain
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. When used in these sections, the words anticipate, believe, estimate and expect and
similar expressions are generally intended to identify forward-looking statements. Readers are
cautioned that any forward-looking statements, including statements regarding the intent, belief or
current expectations of Ironton or its management, are not guarantees of future performance and
involve risks and uncertainties, and that actual results may differ materially from those in the
forward-looking statements as a result of various factors including, but not limited to:
 
    
    the ability of Ironton to liquidate its assets at the stated values,
 
    
    the future costs that may be associated with the liquidation, including, but not limited to, environmental remediation
work that may be required at Irontons property for which Ironton has no accrual, and
 
    
    other risks detailed from time to time in Irontons filings with the Securities and Exchange Commission.
 Ironton undertakes no obligation to publicly update or revise any forward-looking statements.
 
 Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
 Plant Closure and Liquidation Update
   Assets and Liabilities following the Plan for Orderly Shutdown
  Guarantee of Debt
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Proceedings under Chapter 11 of the Bankruptcy Code
 INTERMET Corporation, et
al.
       Accounting Impact of Bankruptcy Proceedings
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Item 3. Quantitative and Qualitative Disclosures about Market Risk
  
 Item 4. Controls and Procedures
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Item 1. Legal Proceedings
 In re:
INTERMET Corporation, et al
  Item 2. Changes in Securities and Use of Proceeds
  Item 3. Defaults upon Senior Securities
  Item 4. Submission of Matters to a Vote of Security Holders
  Item 5. Other Information
  
 Item 6. Exhibits and Reports on Form 8-K
   Exhibit Number
    
    
    Description of Exhibit31
    
    
    Certification by the Chief Executive Officer and Chief
Financial Officer Pursuant to Section 302 of the
Sarbanes-Oxley Act of 200232
    
    
    Certification of Periodic Financial Report by the Chief
Executive Officer and Chief Financial Officer Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002
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Ironton Iron, Inc.By:
    /s/ Robert E. BeltsRobert E. BeltsPresident and Director of Ironton Iron, Inc.
(Principal Executive Officer and Principal Financial Officer)Date:
    

    October 31, 2005 14