<PAGE>   1

                                 UNITED STATES
                       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 quarterly period ended September 30, 1997, or

[ ]   Transition report pursuant to Section 13 or 15(d) of the Securities
      Exchange Act of 1934 For the transition period from             to     .

                          Commission File No. 0-13787

                              INTERMET CORPORATION
             (Exact name of registrant as specified in its charter)

                 GEORGIA                                  58-1563873
         (State or other jurisdiction of                 (IRS Employer
         incorporation or organization)                 Identification No.)

          5445 Corporate Drive, Suite 200, Troy, Michigan  48098-2683
           (Address of principal executive offices)        (Zip code)

                                    952-2500
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.  Yes [X]  No [ ]


At October 31, 1997 there were 25,253,874 shares of Common Stock, $0.10 par
value, outstanding.





<PAGE>   2

                         PART I - FINANCIAL INFORMATION

ITEM 1.    FINANCIAL STATEMENTS

                              Intermet Corporation

                 Interim Condensed Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                                    September 30,        December 31,     
                                                                        1997                1996
                                                                    ----------------------------------
                                                                     (Unaudited)
                                                                         (in thousands of dollars)

<S>                                                                  <C>                    <C>
Assets
Current assets:                                                  
   Cash and cash equivalents                                           $5,273                 $23,485
   Accounts receivable:                                          
      Trade, less allowance for doubtful accounts of             
          $1,519 in 1997 and $949 in 1996                             112,480                  87,049  
      Other                                                             9,949                   4,642  
                                                                    ---------------------------------- 
                                                                      122,429                  91,691  

   Inventories                                                         55,145                  56,047
   Other current assets                                                 7,070                  18,071
                                                                    ---------------------------------- 

Total current assets                                                  189,917                 189,294
                                                                 
Property, plant and equipment, at cost                                453,178                 436,704
                                                                              
Less:                                                            
   Foreign industrial development grants, net of                 
         amortization                                                  (4,031)                 (4,804)
   Accumulated depreciation and amortization                         (223,229)               (209,118)
                                                                    ----------------------------------
Net property, plant and equipment                                     225,918                 222,782
                                                                              
Goodwill, net of amortization                                          86,333                  88,223
Other noncurrent assets                                                23,165                  26,013
                                                                    ---------------------------------- 
Total assets                                                         $525,333                $526,312
                                                                    ==================================
                                                                                                                  
</TABLE>

See accompanying notes.





                                       2
<PAGE>   3

                              Intermet Corporation

                 Interim Condensed Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                                        September 30,           December 31,
                                                                            1997                   1996
                                                                        ------------------------------------
                                                                         (Unaudited)
                                                                              (in thousands of dollars)
 <S>                                                                 <C>                        <C>
 Liabilities and shareholders' equity
 Current liabilities:
    Accounts payable                                                             $54,062            $54,721
    Income taxes payable                                                           7,182             15,198
    Accrued liabilities                                                           50,553             51,474
    Accrued Sudbury acquisition costs                                              1,201             37,299
    Long-term debt due within one year                                             1,795             12,676
                                                                              -----------------------------
 Total current liabilities                                                       114,793            171,368

 Non current liabilities:
    Long term debt due after one year                                            183,018            149,477
    Retirement benefits                                                           54,317             53,421
    Other noncurrent liabilities                                                   5,490              8,107
                                                                              -----------------------------
 Total noncurrent liabilities                                                    242,825            211,005

 Minority interest                                                                 2,337              2,837

 Shareholders' equity:
    Common stock                                                                   2,525              2,517
    Capital in excess of par value                                                58,081             57,308
    Retained earnings                                                            104,682             78,267
    Accumulated translation adjustments                                              671              3,548
    Minimum pension liability adjustment                                            (485)              (485)
    Unearned restricted stock                                                        (96)               (53)
                                                                              -----------------------------
 Total shareholders' equity                                                      165,378            141,102
                                                                              -----------------------------

 Total liabilities and shareholders' equity                                     $525,333           $526,312
                                                                              =============================
</TABLE>

See accompanying notes.





                                       3
<PAGE>   4

                             Intermet Corporation

             Interim Condensed Consolidated Statements of Income

<TABLE>
<CAPTION>
                                                   Three months ended                     Nine months ended
                                             September 30,       September 30,      September 30,     September 30,
                                                1997                 1996               1997              1996
                                            ------------------------------------------------------------------------
                                                                          (Unaudited)

                                                         (in thousands of dollars, except per share data)

 <S>                                          <C>                     <C>               <C>               <C>
 Net sales                                         $189,535          $130,279          $609,924          $408,219
 Cost of sales                                      167,472           112,449           532,010           346,335
                                                 ----------------------------------------------------------------
 Gross profit                                        22,063            17,830            77,914            61,884
                                               
 Operating expenses:                           
    Selling                                           2,528               988             7,452             2,751
    General and administrative                        4,799             4,570            14,421            12,455
                                                 ----------------------------------------------------------------
                                                      7,327             5,558            21,873            15,206
                                                 ----------------------------------------------------------------
 Operating profit                                    14,736            12,272            56,041            46,678
                                               
 Other income and expenses:                    
    Interest income                                      46               409               469               856
    Interest expense                                 (3,164)             (702)           (9,297)           (2,141)
    Other, net                                         (615)               11            (2,022)              (33)
                                                 ----------------------------------------------------------------
                                                     (3,733)             (282)          (10,850)           (1,318)
                                                 ----------------------------------------------------------------
                                               
 Income before income taxes                          11,003            11,990            45,191            45,360
                                               
 Provision for income taxes                           3,647             5,204            15,748            18,950
                                                 ----------------------------------------------------------------
                                               
 Net income                                          $7,356            $6,786           $29,443           $26,410
                                                 ================================================================
                                               
 Earnings per share                                   $0.29             $0.27             $1.15             $1.04
                                                 ================================================================
</TABLE>

See accompanying notes.





                                       4
<PAGE>   5

                              Intermet Corporation

            Interim Condensed Consolidated Statements of Cash Flows

<TABLE>
<CAPTION>
                                                                            Nine months ended
                                                                  September 30,           September 30,
                                                                      1997                    1996
                                                                  -------------------------------------
                                                                                (Unaudited)
                                                                          (in thousands of dollars)
<S>                                                                <C>                     <C>
OPERATING ACTIVITIES                                                
Net income                                                           $29,443                 $26,410
Adjustments to reconcile net income to net cash                     
   provided by operating activities:                                
      Depreciation and amortization                                   27,590                  21,680
      Other                                                             (402)                     68
      Changes in assets and liabilities:                            
         Accounts receivable                                         (32,544)                (15,612)
         Inventories                                                      94                  (1,780)
         Accounts payable                                               (181)                  4,051
         Other assets and liabilities                                  2,347                   2,862
                                                                  -----------------------------------
Net cash provided by operating activities                             26,347                  37,679
                                                                                 
INVESTING ACTIVITIES                                                
Additions to property, plant and equipment                           (31,465)                (15,359)
Sudbury acquisition costs                                            (36,098)                      -
Other                                                                  1,478                   3,516
                                                                  -----------------------------------
Net cash used in investing activities                                (66,085)                (11,843)
                                                                    
FINANCING ACTIVITIES                                                
Net increase (decrease) in borrowings                                 22,944                  (1,325)
Issuance of common stock                                                 727                     606
Dividends paid                                                        (3,027)                 (1,005)
Other                                                                      -                       -
                                                                  -----------------------------------
Net cash provided by (used in) financing activities                   20,644                  (1,724)
                                                                                 
Effect of exchange rate changes on cash and cash                                   
   equivalents                                                           882                    (859)
                                                                  -----------------------------------
Net (decrease) increase in cash and cash equivalents                 (18,212)                 23,253
                                                                                 
Cash and cash equivalents at beginning of period                      23,485                  11,173
                                                                  -----------------------------------
Cash and cash equivalents at end of period                            $5,273                 $34,426
                                                                  ===================================
</TABLE>

See accompanying notes.





                                       5
<PAGE>   6

                              Intermet Corporation

          Notes to Interim Condensed Consolidated Financial Statements

                         September 30, 1997 (Unaudited)


1.  Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of
Intermet Corporation ("Intermet") and its subsidiaries (collectively, the
"Company") 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 by generally accepted accounting
principles for complete financial statements.  In the opinion of management,
all adjustments (consisting of normal recurring accruals) considered necessary
for a fair presentation have been included.  Operating results for the three
and nine months ended September 30, 1997 are not necessarily indicative of the
results that may be expected for the year ended December 31, 1997.  For further
information, refer to the consolidated financial statements and footnotes
thereto included in the Company's annual report on Form 10-K for the year ended
December 31, 1996.

Inventories

Inventories consist of the following (in thousands of dollars):

<TABLE>
<CAPTION>
                                          September 30,            December 31,
                                              1997                    1996
                                          ------------            ------------
       <S>                           <C>                      <C>
       Finished goods                          $10,479               $13,530
       Work in process                          15,564                13,408
       Raw materials                            11,773                11,679
       Supplies and patterns                    17,329                17,430
                                             ---------              --------
                                               $55,145               $56,047
                                             =========              ========
</TABLE>


Property, Plant and Equipment

Property, plant and equipment consist of the following (in thousands of
dollars):

<TABLE>
<CAPTION>
                                     September 30,        December 31,
                                        1997                 1996
                                    -------------        ------------
       <S>                           <C>                    <C>
       Land                               $4,981               $5,260
       Buildings and improvements         87,015               88,459
       Machinery and equipment           318,055              335,003
       Construction in progress           43,127                7,982
                                      ----------            ---------
                                        $453,178             $436,704
                                      ==========            =========
</TABLE>





                                       6
<PAGE>   7

                              Intermet Corporation

    Notes to Interim Condensed Consolidated Financial Statements (continued)

                         September 30, 1997 (Unaudited)


Intangible Assets

Intangible assets consist principally of costs in excess of net assets acquired
of $86,333,000 and $88,223,000 (net of accumulated amortization of $3,727,000
and $1,837,000) at September 30, 1997 and December 31, 1996, respectively. Such
costs are being amortized using the straight-line method over periods ranging
from ten to forty years.

Income Per Common Share

In February 1997, the Financial Accounting Standards Board issued Statement No.
128, "Earnings per Share", which is required to be adopted on December 31,
1997.  At that time, the Company will be required to change the method
currently used to compute earnings per share and to restate all prior periods.
Under the new requirements for calculating primary earnings per share, the
dilutive effect of stock options will be excluded.  Earnings per share and
fully diluted earnings per share for the three and nine month periods ended
September 30, 1997 and September 30, 1996, as calculated pursuant to Statement
No. 128, do not differ materially from the reported amounts.

2.  Debt

Long term debt consists of the following (in thousands of dollars):


<TABLE>
<CAPTION>
                                                 September 30,    December 31,
                                                     1997              1996
                                                 ------------     -----------
               <S>                              <C>              <C>
               Intermet                              $178,100       $143,400
               Subsidiaries                             6,713         18,753
                                                    ---------      ---------

               Total long-term debt                   184,813        162,153
               Less amounts due within one year         1,795         12,676
                                                    ---------      ---------
                                                                 
               Long-term debt due after one yea      $183,018       $149,477
                                                    =========      =========
</TABLE>





                                       7
<PAGE>   8

                              Intermet Corporation

    Notes to Interim Condensed Consolidated Financial Statements (continued)

                         September 30, 1997 (Unaudited)


3.  Environmental and Legal Matters

The Company has initiated corrective action and/or preventative environmental
projects to ensure the safe and lawful operation of its facilities.  There
could exist, however, more extensive or unknown environmental situations at
existing or previously owned businesses for which the future cost is not known
or exceeds amounts accrued at September 30, 1997.

The Company is also engaged in various legal proceedings and other matters
incidental to its normal business activities.  The Company does not believe any
of these above-mentioned proceedings or matters will have a material adverse
effect on the Company's consolidated financial position or results of
operations.

4.  Acquisitions and Dispositions

In May 1997, the Company purchased all of Ford Motor Company's interest in New
River Castings Company's ("New River") outstanding preferred stock for
$500,000.  Intermet now owns 100% of the New River facility.

In December 1996, the Company acquired for cash substantially all of the
outstanding stock of Sudbury, Inc. ("Sudbury") for $182,434,000, including
costs of $5,277,000 directly related to the acquisition. The accompanying
balance sheet includes as a current liability remaining accrued acquisition
costs of approximately $1,201,000.  The transaction has been accounted for as a
purchase and, accordingly, the purchase price has been allocated to the assets
purchased and the liabilities assumed based upon their fair values at the date
of acquisition.  The excess of the purchase price over the fair values of
tangible net assets acquired was $82,598,000 and has been recorded as goodwill,
which is being amortized on a straight-line basis over 40 years.  Sudbury and
its subsidiaries manufacture high-quality castings and industrial products.
The products are used primarily in the automotive, appliance and construction
markets providing iron, aluminum and zinc castings; applications of custom
coatings; cranes, truck bodies and related equipment; and precision machined
components. The following represents the unaudited pro forma consolidated
results of operations for the Company for the three and nine months ended
September 30, 1996, assuming the acquisition described above occurred on
January 1, 1996 (in thousands of dollars, except for per share data):

<TABLE>
<CAPTION>
                                     Three months        Nine months      
                                        ended               ended
                                     September 30,       September 30,
                                        1996                1996
                                     --------------------------------- 
<S>                                   <C>                <C>
       Net sales                        $202,790             $633,125
       Net income                          6,583               29,782
       Income per common share             $0.26                $1.17
</TABLE>





                                       8
<PAGE>   9

                              Intermet Corporation

    Notes to Interim Condensed Consolidated Financial Statements (continued)

                         September 30, 1997 (Unaudited)


These pro forma results are presented for comparative purposes only.  They are
not necessarily indicative of what would have occurred had the acquisitions
actually transpired on January 1, 1996, or of future results of operations.

5.  Investment in IWESA GmbH

During the third quarter of 1997, the Company's ownership of the common stock
of IWESA GmbH ("IWESA") increased from 72% to 82%.  This follows an increase
during the second quarter of 1997 from 49% to 72%.  The Company's majority
control of IWESA is likely to be temporary and, accordingly, the Company is
accounting for this investment on the equity method.  For the nine month period
ended September 30, 1997, the Company's equity in net loss of IWESA is
2,219,000 DM ($1,270,000) (none in 1996).

6.  Income Taxes

The decrease in the effective tax rate for the nine month period ended
September 30, 1997 from the same period in 1996 is attributable to the tax
benefits from the utilization of net operating loss tax carryforwards.

7.  Subsequent Events

On October 16, 1997, the Company amended the Shareholder Protection Rights
Agreement ("Rights Agreement"), dated October 6, 1995, to provide that certain
institutional investors who own in excess of 10% but less than 15% are not
Acquiring Persons, as defined by the Rights Agreement.

ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
           RESULTS OF OPERATIONS

Material Changes in Financial Condition

For the first nine months of 1997, net cash provided by operating activities
was $26.3 million.  Accounts receivable increased $32.5 million from December
31, 1996, as sales during September 1997 were higher than those of December
1996 due to the traditional holiday shutdown.  Depreciation and amortization
expense was $27.6 million.  The Company's investing activities for the first
nine months of 1997 used cash of $66.1 million.  This includes $36.1 million
paid for costs related to the acquisition of Sudbury. Additions to property,
plant and equipment were $31.5 million.  Financing activities provided cash of
$20.6 million for the year to date at September 30, 1997.  Bank borrowings
increased $22.9 million from the end of 1996, principally to fund accounts
receivable and to finance the Sudbury acquisition costs.

Cash and cash equivalents decreased to $5.3 million at September 30, 1997 from
$23.5 million at December 31, 1996.  The Company declared a cash dividend of
$0.04 per share ($1.0 million in aggregate) for the holders of record on
September 1, 1997.





                                       9
<PAGE>   10

Material Changes in Results of Operations

SALES.  Sales in the third quarter of 1997 were $189.5 million compared to
$130.3 million during the same period in 1996.  Sales for the nine month period
ending September 30, 1997 increased $59.3 million (or 45.5%) over the same
period in 1996.  This increase in sales relates primarily to the acquisition of
Sudbury in late December 1996.  Domestic sales during the three and nine months
ended September 30, 1997, excluding Sudbury, were approximately $6.1 million
(or 5.5%) and $3.9 million (or 1.1%) lower than during their respective periods
in 1996.  This is a result of lower domestic light vehicle sales.  Sales at
machining operations increased $2.0 million and $13.4 million for the three and
nine month periods ended September 30, 1997, respectively, from the same
periods in 1996 due to the launch of new products.  European sales were up 9.6%
and 3.2% for the third quarter and year to date 1997, respectively, versus the
same periods for 1996.  However, the negative effect of changes in the exchange
rates was $4.1 million (or 17%) and $10.0 million (or 13%) for the three and
nine month periods ended September 30, 1997, respectively, as compared to
exchange rates in the same periods in 1996.

GROSS PROFIT.  Gross profit for the quarter ended September 30, 1997 was $22.1
million, an increase of $4.2 million from that of the same period in 1996.
Gross profit for September 30, 1997 year to date was $77.9 million versus $61.9
million in 1996.  This improvement was principally attributable to the
acquisition of Sudbury. Gross profit as a percentage of sales for the three and
nine months ended September 30, 1997 were 11.6% and 12.8%, respectively,
compared to 13.7% and 15.2% for the corresponding periods in 1996. This
decrease occurs primarily because the Sudbury subsidiaries in the aggregate
generate lower margins than pre-acquisition Intermet subsidiaries as a whole.
In addition, the Company continues to have higher than anticipated costs
associated with new product launches at the Company's lost foam aluminum plant
and underutilized capacity at certain other domestic foundries.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES.  Selling, general and
administrative expenses as a percentage of sales were 3.9% for the three months
ended September 30, 1997 compared to 4.3% for the same period in 1996.
Selling, general and administrative expenses as a percentage of sales for the
nine month periods ending September 30, 1997 and 1996 were 3.6% and 3.7%,
respectively.

INTEREST EXPENSE.  Interest expense increased to $3.2 million and $9.3 million
for the three and nine months ended September 30, 1997, respectively, from $0.7
million and $2.1 million for the same periods in 1996. This was a result of an
increase in borrowings that were used principally to finance the Sudbury
acquisition and, to a lesser extent, to fund accounts receivable.





                                       10
<PAGE>   11

                          PART II - OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS

The Company entered into a consent order with the Office of the Ohio Attorney
General, which was filed in Ohio State Court, with respect to certain past
violations of Ohio water pollution laws and regulations by the Company.  The
Attorney General's Office advised the Company that it could avoid litigation
with respect to such violations by entering into this consent order. The
consent order decreed that the Company reimburse the Attorney General's Office
$13,000 for the costs of investigating this case.  These costs were paid in
July 1997.  The Company paid $272,103 in civil penalties in August 1997.  These
amounts were fully accrued in 1995.

ITEM 2.    CHANGES IN SECURITIES

On October 16, 1997, the Company amended the Shareholder Protection Rights
Agreement ("Rights Agreement"), dated October 6, 1995, to provide that certain
institutional investors who own in excess of 10% but less than 15% are not
Acquiring Persons, as defined by the Rights Agreement.

ITEM 3.    DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

None

ITEM 5.    OTHER INFORMATION

On October 17, 1996, the Board of Directors amended the bylaws of the Company
to increase to fifteen, the number of directors constituting the Board. On July
17, 1997, the Board of Directors elected John R. Horne to fill the vacancy
created by this amendment.  Mr. Horne, 59, is the Chairman, President and CEO
of Navistar International Corporation.  Mr. Horne will serve on the Board of
Directors until the next annual meeting or until his successor is elected and
qualified.





                                       11
<PAGE>   12

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K

The following exhibits are filed with this Report pursuant to Item 601 of
Regulation S-K:



Exhibit Number
Description of Exhibit

4.1     Amendment No. 1, dated October 16, 1997, to the Shareholder Protection
        Rights Agreement, dated October 6, 1995, between the Company and
        Trust Company Bank, as Rights Agent (included as Exhibit 4 to the
        Company's Form 8-A12G/A, File No. 0-13787, previously filed with the
        Commission and incorporated herein by reference).

10.1    Form of 90 Day Lock-Up Agreement signed by all members of the Board of
        Directors and certain executive officers pursuant to the
        Underwriting Agreement entered into in connection with the Form S-3
        Registration Statement filed with the Commission on August 22, 1997.

11.1    Computation of Earnings per Common Share.

27.1    Financial Data Schedule.

(b) No reports on Form 8-K were filed by the Company for the three months ended
September 30, 1997.


SIGNATURES

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


                                        INTERMET CORPORATION


                                        By:      /s/ Walter T. Knollenberg
                                                 ------------------------------
                                                 Walter T. Knollenberg
                                                 Corporate Controller
                                                 (Principal Accounting Officer)


                                                 Date:    November 10, 1997





                                       12
<PAGE>   13

Exhibits Index



Exhibit Number   Description of Exhibit

4.1              Amendment No. 1, dated October 16, 1997, to the Shareholder 
                 Protection Rights Agreement, dated October 6, 1995,
                 between the Company and Trust Company Bank, as Rights Agent
                 (included as Exhibit 4 to the Company's Form 8-A12G/A, File No.
                 0-13787, previously filed with the Commission and incorporated
                 herein by reference).

10.1             Form of 90 Day Lock-Up Agreement signed by all members of the
                 Board of Directors and certain executive officers
                 pursuant to the Underwriting Agreement entered into in
                 connection with the Form S-3 Registration Statement filed with
                 the Commission on August 22, 1997.

11.1             Computation of Earnings per Common Share.

27.1             Financial Data Schedule.





                                       13