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 June 30, 2000, 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
(State or other jurisdiction of
incorporation or organization)                  |  | 58-1563873
(IRS Employer
Identification No.)
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|5445 Corporate
Drive, Suite 200,Troy, Michigan
(Address of principal executive offices) |  | 48098-2683
(Zip code)                       

(248) 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 August 1, 2000 there were 25,385,824 shares of common stock, $0.10 par
value, outstanding.





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Part I  Financial Information

Item 1. Financial Statements

INTERMET Corporation

Interim Condensed Consolidated Statements of Operations

|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |        |  
|------------------------------------------- | -------------------------- | - | ------------------------------------------------ | ------- | ---------------- | - | ------------- | ------ | ------------- | - | ------- | ------- | - | - | ------- | ------ | -
|                                            |                            |   | Three months ended                               |         | Six months ended
|                                            |                            |   |                                                  |         |                 
|                                            |                            |   | June 30, 2000                                    |         | June 30, 1999    |   | June 30, 2000 |        | June 30, 1999
|                                            |                            |   |                                                  |         |                  |   |               |        |              
|                                            |                            |   | (Unaudited)                                     
|                                            |                            |   | (in thousands of dollars, except per share data)
|Net sales                                   |                            | $ | 281,855                                          |         |                  | $ | 245,698       |        |               | $ | 589,288 |         |   | $ | 490,925 |       
|                                           
|                                           
|                                           
|                                           
|Cost of sales                               |                            |   | 240,565                                          |         |                  |   | 212,552       |        |               |   | 509,953 |         |   |   | 423,642 |       
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       
|Gross profit                                |                            |   | 41,290                                           |         |                  |   | 33,146        |        |               |   | 79,335  |         |   |   | 67,283  |       
|                                           
|                                           
|                                           
|                                           
|Operating expenses:                        
|                                           
|                                           
|                                           
|                                           
|                                            | Selling                    |   |                                                  | 3,509   |                  |   |               | 3,093  |               |   |         | 6,943   |   |   |         | 5,997  |  
|                                           
|                                           
|                                           
|                                           
|                                            | General and administrative |   |                                                  | 6,612   |                  |   |               | 5,438  |               |   |         | 13,037  |   |   |         | 11,508 |  
|                                           
|                                           
|                                           
|                                           
|                                            | Other operating expenses   |   |                                                  | 1,790   |                  |   |               | 812    |               |   |         | 3,269   |   |   |         | 1,621  |  
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       
|                                            |                            |   | 11,911                                           |         |                  |   | 9,343         |        |               |   | 23,249  |         |   |   | 19,126  |       
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       
|Operating profit                            |                            |   | 29,379                                           |         |                  |   | 23,803        |        |               |   | 56,086  |         |   |   | 48,157  |       
|                                           
|                                           
|                                           
|                                           
|Other income (expense):                    
|                                           
|                                           
|                                           
|                                           
|                                            | Interest income            |   |                                                  | 170     |                  |   |               | 53     |               |   |         | 246     |   |   |         | 109    |  
|                                           
|                                           
|                                           
|                                           
|                                            | Interest expense           |   |                                                  | (10,441 | )                |   |               | (3,341 | )             |   |         | (20,823 | ) |   |         | (6,602 | )
|                                           
|                                           
|                                           
|                                           
|                                            | Other, net                 |   |                                                  | 1,039   |                  |   |               | 295    |               |   |         | 1,939   |   |   |         | 112    |  
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       
|                                            |                            |   | (9,232                                           | )       |                  |   | (2,993        | )      |               |   | (18,638 | )       |   |   | (6,381  | )     
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       
|Income before income taxes                  |                            |   | 20,147                                           |         |                  |   | 20,810        |        |               |   | 37,448  |         |   |   | 41,776  |       
|                                           
|                                           
|                                           
|                                           
|Provision for income taxes                  |                            |   | 8,277                                            |         |                  |   | 4,184         |        |               |   | 16,082  |         |   |   | 13,017  |       
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       
|Net income                                  |                            | $ | 11,870                                           |         |                  | $ | 16,626        |        |               | $ | 21,366  |         |   | $ | 28,759  |       
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       
|Income per common share 
basic and diluted |                            | $ | 0.47                                             |         |                  | $ | 0.65          |        |               | $ | 0.84    |         |   | $ | 1.12    |       
|                                            |                            |   |                                                  |         |                  |   |               |        |               |   |         |         |   |   |         |       

See accompanying notes.

2



---



INTERMET Corporation

Interim Condensed Consolidated Balance Sheets

|                                       |                                                            |                                                                                  |         |                           |         |              |         |         |         | 
|-------------------------------------- | ---------------------------------------------------------- | -------------------------------------------------------------------------------- | ------- | ------------------------- | ------- | ------------ | ------- | ------- | ------- | 
|                                       |                                                            |                                                                                  |         | June 30,                  |         | December 31,
|                                       |                                                            |                                                                                  |         | 2000                      |         | 1999        
|                                       |                                                            |                                                                                  |         |                           |         |             
|                                       |                                                            |                                                                                  |         | (Unaudited)              
|                                       |                                                            |                                                                                  |         | (in thousands of dollars)
|AssetsCurrent assets:                 
|                                      
|                                      
|                                      
|                                      
|                                       | Cash and cash equivalents                                  |                                                                                  | $       | 24,474                    |         |              | $       | 3,416   |        
|                                      
|                                      
|                                      
|                                      
|                                       | Accounts receivable:                                      
|                                      
|                                      
|                                      
|                                      
|                                       |                                                            | Trade, less allowance for doubtful
accounts of $6,611 in 2000 and $7,426
in 1999 |         |                           | 164,566 |              |         |         | 154,742 | 
|                                      
|                                      
|                                      
|                                      
|                                       |                                                            | Other                                                                            |         |                           | 22,457  |              |         |         | 19,649  | 
|                                       |                                                            |                                                                                  |         |                           |         |              |         |        
|                                       |                                                            |                                                                                  | 187,023 |                           |         |              | 174,391 |        
|                                      
|                                      
|                                      
|                                      
|                                       | Inventories                                                |                                                                                  |         | 90,309                    |         |              |         | 102,802 |        
|                                      
|                                      
|                                      
|                                      
|                                       | Other current assets                                       |                                                                                  |         | 27,200                    |         |              |         | 23,911  |        
|                                       |                                                            |                                                                                  |         |                           |         |              |         |        
|Total current assets                   |                                                            |                                                                                  | 329,006 |                           |         |              | 304,520 |        
|                                      
|                                      
|                                      
|                                      
|Property, plant and equipment, at cost |                                                            |                                                                                  | 622,308 |                           |         |              | 606,221 |        
|                                      
|                                      
|                                      
|                                      
|Less:                                 
|                                      
|                                      
|                                      
|                                      
|                                       | Foreign industrial development grants,
net of amortization |                                                                                  |         | 3,402                     |         |              |         | 3,533   |        
|                                      
|                                      
|                                      
|                                      
|                                       | Accumulated depreciation and amortization                  |                                                                                  |         | 252,867                   |         |              |         | 232,957 |        
|                                       |                                                            |                                                                                  |         |                           |         |              |         |        
|Net property, plant and equipment      |                                                            |                                                                                  | 366,039 |                           |         |              | 369,731 |        
|                                      
|                                      
|                                      
|                                      
|Intangibles, net of amortization       |                                                            |                                                                                  | 245,863 |                           |         |              | 248,864 |        
|                                      
|                                      
|                                      
|                                      
|Other noncurrent assets                |                                                            |                                                                                  | 28,774  |                           |         |              | 34,177  |        
|                                       |                                                            |                                                                                  |         |                           |         |              |         |        
|                                       |                                                            | $                                                                                | 969,682 |                           |         | $            | 957,292 |        
|                                       |                                                            |                                                                                  |         |                           |         |              |         |        

3



---



INTERMET Corporation

Interim Condensed Consolidated Balance Sheets

|                                                          |                                            |   |                           |         |              |   |         |         |  
|--------------------------------------------------------- | ------------------------------------------ | - | ------------------------- | ------- | ------------ | - | ------- | ------- | -
|                                                          |                                            |   | June 30,                  |         | December 31,
|                                                          |                                            |   | 2000                      |         | 1999        
|                                                          |                                            |   |                           |         |             
|                                                          |                                            |   | (Unaudited)              
|                                                          |                                            |   | (in thousands of dollars)
|Liabilities and
shareholders equity
Current liabilities:
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Term loan                                  |   | $                         | 15,000  |              |   |         |        |  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Accounts payable                           |   |                           | 91,594  |              |   | $       | 114,105 |  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Income taxes and other accrued liabilities |   |                           | 87,549  |              |   |         | 87,963  |  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Long term debt due within one year         |   |                           | 1,399   |              |   |         | 6,406   |  
|                                                          |                                            |   |                           |         |              |   |         |        
|Total current liabilities                                 |                                            |   | 195,542                   |         |              |   | 208,474 |        
|                                                         
|                                                         
|                                                         
|                                                         
|Noncurrent liabilities:                                  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Long term debt due after one year          |   |                           | 458,061 |              |   |         | 448,634 |  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Other noncurrent liabilities               |   |                           | 54,693  |              |   |         | 57,807  |  
|                                                          |                                            |   |                           |         |              |   |         |        
|Total noncurrent liabilities                              |                                            |   | 512,754                   |         |              |   | 506,441 |        
|                                                         
|                                                         
|                                                         
|                                                         
|Shareholders equity:                                    
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Common stock                               |   |                           | 2,589   |              |   |         | 2,585   |  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Capital in excess of par value             |   |                           | 57,037  |              |   |         | 56,661  |  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Retained earnings                          |   |                           | 202,768 |              |   |         | 183,432 |  
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Accumulated other comprehensive income     |   |                           | (807    | )            |   |         | (234    | )
|                                                         
|                                                         
|                                                         
|                                                         
|                                                          | Unearned restricted stock                  |   |                           | (201    | )            |   |         | (67     | )
|                                                          |                                            |   |                           |         |              |   |         |        
|Total shareholders equity                                |                                            |   | 261,386                   |         |              |   | 242,377 |        
|                                                          |                                            |   |                           |         |              |   |         |        
|                                                          |                                            | $ | 969,682                   |         |              | $ | 957,292 |        
|                                                          |                                            |   |                           |         |              |   |         |        

See accompanying notes.

4



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INTERMET Corporation

Interim Condensed Consolidated Statements of Cash Flows

|                                                                                        |                                              |                                    |         |                           |         |               |         |         |         |  
|--------------------------------------------------------------------------------------- | -------------------------------------------- | ---------------------------------- | ------- | ------------------------- | ------- | ------------- | ------- | ------- | ------- | -
|                                                                                        |                                              |                                    |         | Six months ended         
|                                                                                        |                                              |                                    |         |                          
|                                                                                        |                                              |                                    |         | June 30, 2000             |         | June 30, 1999
|                                                                                        |                                              |                                    |         |                           |         |              
|                                                                                        |                                              |                                    |         | (Unaudited)              
|                                                                                        |                                              |                                    |         | (in thousands of dollars)
|Operating activities:                                                                  
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|Net income                                                                              |                                              | $                                  | 21,366  |                           |         | $             | 28,759  |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|Adjustments to reconcile net income to cash provided by
(used in) operating activities:
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Depreciation                                 |                                    |         | 23,765                    |         |               |         | 17,623  |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Amortization                                 |                                    |         | 4,050                     |         |               |         | 1,902   |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Gain on sale of equity investment            |                                    |         | (129                      | )       |               |         |        |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Net (gain) loss on disposal of fixed assets  |                                    |         | 49                        |         |               |         | 111     |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Changes in operating assets and liabilities:
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        |                                              | Accounts receivable                |         |                           | (19,201 | )             |         |         | (36,195 | )
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        |                                              | Inventories                        |         |                           | 13,577  |               |         |         | 2,283   |  
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        |                                              | Accounts payable and accrued taxes |         |                           | (23,124 | )             |         |         | (18,004 | )
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        |                                              | Deferred insurance proceeds        |         |                           | 3,337   |               |         |         |        |  
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        |                                              | Other assets and liabilities       |         |                           | (10,973 | )             |         |         | (5,229  | )
|                                                                                        |                                              |                                    |         |                           |         |               |         |        
|Net cash provided by (used in) operating activities                                     |                                              |                                    | 12,717  |                           |         |               | (8,750  | )      
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|Investing activities:                                                                  
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Additions to property, plant and equipment   |                                    |         | (20,868                   | )       |               |         | (27,143 | )      
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Proceeds from the sale of equity investment  |                                    |         | 10,309                    |         |               |         |        |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Proceeds from sale of fixed assets           |                                    |         | 680                       |         |               |         | 7       |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Other                                        |                                    |         | (616                      | )       |               |         | (1,259  | )      
|                                                                                        |                                              |                                    |         |                           |         |               |         |        
|Net cash used in investing activities                                                   |                                              |                                    | (10,495 | )                         |         |               | (28,395 | )      
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|Financing activities:                                                                  
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Net increase in revolving credit facility    |                                    |         | 20,500                    |         |               |         | 21,000  |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Payoff of senior note                        |                                    |         | (15,000                   | )       |               |         |        |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Proceeds from term loan                      |                                    |         | 15,000                    |         |               |         |        |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Net reduction in other debt                  |                                    |         | (1,037                    | )       |               |         | (1,052  | )      
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Net increase in notes payable                |                                    |         |                          |         |               |         | 19,000  |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Acquisition of treasury stock                |                                    |         |                          |         |               |         | (6,487  | )      
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Dividends paid                               |                                    |         | (2,030                    | )       |               |         | (2,048  | )      
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                        | Issuance of common stock                     |                                    |         | 380                       |         |               |         | 26      |        
|                                                                                        |                                              |                                    |         |                           |         |               |         |        
|Net cash provided by financing activities                                               |                                              |                                    | 17,813  |                           |         |               | 30,439  |        
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|Effect of exchange rate changes on cash and cash equivalents                            |                                              |                                    | 1,023   |                           |         |               | 4,357   |        
|                                                                                        |                                              |                                    |         |                           |         |               |         |        
|Net increase (decrease) in cash and cash equivalents                                    |                                              |                                    | 21,058  |                           |         |               | (2,349  | )      
|                                                                                       
|                                                                                       
|                                                                                       
|                                                                                       
|Cash and cash equivalents at beginning of period                                        |                                              |                                    | 3,416   |                           |         |               | 5,848   |        
|                                                                                        |                                              |                                    |         |                           |         |               |         |        
|Cash and cash equivalents at end of period                                              |                                              | $                                  | 24,474  |                           |         | $             | 3,499   |        
|                                                                                        |                                              |                                    |         |                           |         |               |         |        

See accompanying notes.

5



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements

June 30, 2000 (Unaudited)

1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of
INTERMET Corporation and its subsidiaries 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 six months ended June 30, 2000 are not
necessarily indicative of the results that may be expected for the year ending
December 31, 2000. Third and fourth quarter sales are usually lower than the
first- and second-quarter sales due to plant closings by automotive
manufacturers for vacations and model changeovers. For further information,
refer to the consolidated financial statements and footnotes included in
INTERMETs annual report on Form 10-K for the year ended December 31, 1999.

During the second quarter of 2000, amounts that were recorded in the first
quarter for reimbursement under our business interruption policy (related to
the New River explosion and fire) were reclassified from non-operating income
to cost of goods sold (to offset the costs of lost sales). This
reclassification is reflected in the statement of operations for the six-month
period ended June 30, 2000. The statement of operations for the three months
ended June 30, 2000 included in these financial statements excludes this
reclassification so that they may accurately reflect the results of operations
for the second quarter of 2000.

Some amounts previously reported in the financial statements for the period
ended June 30, 1999 have been reclassifed to conform to the 2000 presentation.

2. Inventories

Net inventories consist of the following (in thousands of dollars):

|                      |  |          |        |              |  |   |         | 
|--------------------- |  | -------- | ------ | ------------ |  | - | ------- | 
|                      |  | June 30, |        | December 31,
|                      |  | 2000     |        | 1999        
|                      |  |          |        |             
|Finished goods        |  | $        | 16,404 |              |  | $ | 24,235  | 
|                     
|                     
|                     
|                     
|Work in process       |  |          | 21,890 |              |  |   | 19,054  | 
|                     
|                     
|                     
|                     
|Raw materials         |  |          | 13,118 |              |  |   | 15,313  | 
|                     
|                     
|                     
|                     
|Supplies and patterns |  |          | 38,897 |              |  |   | 44,200  | 
|                      |  |          |        |              |  |   |         | 
|                      |  | $        | 90,309 |              |  | $ | 102,802 | 
|                      |  |          |        |              |  |   |         | 

6



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements (continued)

June 30, 2000 (Unaudited)

3. Property, Plant and Equipment

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

|                           |  |          |         |              |  |   |         | 
|-------------------------- |  | -------- | ------- | ------------ |  | - | ------- | 
|                           |  | June 30, |         | December 31,
|                           |  | 2000     |         | 1999        
|                           |  |          |         |             
|Land                       |  | $        | 5,533   |              |  | $ | 5,411   | 
|                          
|                          
|                          
|                          
|Buildings and improvements |  |          | 112,733 |              |  |   | 110,777 | 
|                          
|                          
|                          
|                          
|Machinery and equipment    |  |          | 426,140 |              |  |   | 422,215 | 
|                          
|                          
|                          
|                          
|Construction in progress   |  |          | 77,902  |              |  |   | 67,818  | 
|                           |  |          |         |              |  |   |         | 
|                           |  | $        | 622,308 |              |  | $ | 606,221 | 
|                           |  |          |         |              |  |   |         | 

4. Intangible Assets

Intangible assets of $245,863,000 and $248,864,000 (net of accumulated
amortization of $14,282,000 and $10,867,000) at June 30, 2000 and December
31, 1999, respectively, consist principally of costs in excess of net assets
acquired. Such costs are being amortized using the straight-line method,
principally over forty years.

5. Debt

On March 3, 2000 we signed a seven month $15 million unsecured term loan
agreement with The Bank of Nova Scotia. We used the proceeds to pay off the
$15 million outstanding balance on a note due to Prudential. The new term loan
agreement matures October 2, 2000.

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

|                                  |  |          |         |              |  |   |         | 
|--------------------------------- |  | -------- | ------- | ------------ |  | - | ------- | 
|                                  |  | June 30, |         | December 31,
|                                  |  | 2000     |         | 1999        
|                                  |  |          |         |             
|INTERMET                          |  | $        | 414,000 |              |  | $ | 408,500 | 
|                                 
|                                 
|                                 
|                                 
|Subsidiaries                      |  |          | 45,460  |              |  |   | 46,540  | 
|                                  |  |          |         |              |  |   |         | 
|Total long-term debt              |  |          | 459,460 |              |  |   | 455,040 | 
|                                 
|                                 
|                                 
|                                 
|Less amounts due within one year  |  |          | 1,399   |              |  |   | 6,406   | 
|                                  |  |          |         |              |  |   |         | 
|Long-term debt due after one year |  | $        | 458,061 |              |  | $ | 448,634 | 
|                                  |  |          |         |              |  |   |         | 

7



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements (continued)

June 30, 2000 (Unaudited)

6. Income Taxes

During the second quarter of 1999, we were able to use a one-time tax benefit
of $4.5 million related to a change of tax law in Germany.

7. Comprehensive Income

We adopted Financial Accounting Standards Boards Statement of Financial
Accounting Standards No. 130, Reporting Comprehensive Income as of January 1,
1998. However, the adoption of this Statement had no impact on our net income
or shareholders equity.

|                                        |                                         |   |                           |     |                  |   |               |      |               |   |        |      |   |   |        |      |  
|--------------------------------------- | --------------------------------------- | - | ------------------------- | --- | ---------------- | - | ------------- | ---- | ------------- | - | ------ | ---- | - | - | ------ | ---- | -
|                                        |                                         |   | Three months ended        |     | Six months ended
|                                        |                                         |   |                           |     |                 
|                                        |                                         |   | June 30, 2000             |     | June 30, 1999    |   | June 30, 2000 |      | June 30, 1999
|                                        |                                         |   |                           |     |                  |   |               |      |              
|                                        |                                         |   | (in thousands of dollars)
|Net income                              |                                         | $ | 11,870                    |     |                  | $ | 16,626        |      |               | $ | 21,366 |      |   | $ | 28,759 |     
|                                       
|                                       
|                                       
|                                       
|Other comprehensive income (loss):     
|                                       
|                                       
|                                       
|                                       
|                                        | Foreign currency translation
adjustment |   |                           | 113 |                  |   |               | (148 | )             |   |        | (573 | ) |   |        | (649 | )
|                                       
|                                       
|                                       
|                                       
|                                        | Minimum pension liability
adjustment    |   |                           |    |                  |   |               |     |               |   |        |     |   |   |        |     |  
|                                        |                                         |   |                           |     |                  |   |               |      |               |   |        |      |   |   |        |     
|Total other comprehensive income
(loss) |                                         |   | 113                       |     |                  |   | (148          | )    |               |   | (573   | )    |   |   | (649   | )   
|                                        |                                         |   |                           |     |                  |   |               |      |               |   |        |      |   |   |        |     
|Total comprehensive income              |                                         | $ | 11,983                    |     |                  | $ | 16,478        |      |               | $ | 20,793 |      |   | $ | 28,110 |     
|                                        |                                         |   |                           |     |                  |   |               |      |               |   |        |      |   |   |        |     

8



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements (continued)

June 30, 2000 (Unaudited)

8. Reporting for Business Segments

We evaluate the operating performance of our business units individually.
Under the provisions of SFAS No. 131, Disclosures about Segments of an
Enterprise and Related Information, we have aggregated operating segments
that have similar characteristics, including manufacturing processes and raw
materials. The ferrous-metalssegment consists of ferrous foundry operations
and their related machining operations. The light-metalssegment consists of
aluminum, magnesium and zinc casting operations and their related machining
operations. The operating units that comprise otherare all non-foundry
operations, and none of them constitutes a reportable segment on its own.
Previously, we had one segment, but with the acquisitions at the end of 1999
of two significant companies that fall in the light metals segment, we now
have two segments. We have restated 1999 segment disclosure information to
conform to the new segment disclosure structure. This information is
displayed in the following table:

|                                       |            |                |                           |              |  |       |   |              |  |  |   |        |  |  |   |         | 
|-------------------------------------- | ---------- | -------------- | ------------------------- | ------------ |  | ----- | - | ------------ |  |  | - | ------ |  |  | - | ------- | 
|                                       |            | Ferrous Metals |                           | Light Metals |  | Other |   | Consolidated
|                                       |            |                |                           |              |  |       |   |             
|                                       |            |                | (in thousands of dollars)
|Three-month period ended June 30, 2000
|                                      
|                                      
|                                      
|                                      
|                                       | Net sales  |                | $                         | 169,701      |  |       | $ | 88,541       |  |  | $ | 23,613 |  |  | $ | 281,855 | 
|                                      
|                                      
|                                      
|                                      
|                                       | Net income |                |                           | 7,936        |  |       |   | 2,803        |  |  |   | 1,131  |  |  |   | 11,870  | 
|                                      
|                                      
|                                      
|                                      
|Three-month period ended June 30, 1999
|                                      
|                                      
|                                      
|                                      
|                                       | Net sales  |                | $                         | 199,436      |  |       | $ | 24,102       |  |  | $ | 22,160 |  |  | $ | 245,698 | 
|                                      
|                                      
|                                      
|                                      
|                                       | Net income |                |                           | 15,080       |  |       |   | 458          |  |  |   | 1,088  |  |  |   | 16,626  | 
|                                      
|                                      
|                                      
|                                      
|Six-month period ended June 30, 2000  
|                                      
|                                      
|                                      
|                                      
|                                       | Net sales  |                | $                         | 364,904      |  |       | $ | 179,275      |  |  | $ | 45,109 |  |  | $ | 589,288 | 
|                                      
|                                      
|                                      
|                                      
|                                       | Net income |                |                           | 13,500       |  |       |   | 6,154        |  |  |   | 1,712  |  |  |   | 21,366  | 
|                                      
|                                      
|                                      
|                                      
|Six-month period ended June 30, 1999  
|                                      
|                                      
|                                      
|                                      
|                                       | Net sales  |                | $                         | 398,657      |  |       | $ | 49,490       |  |  | $ | 42,778 |  |  | $ | 490,925 | 
|                                      
|                                      
|                                      
|                                      
|                                       | Net income |                |                           | 25,722       |  |       |   | 1,283        |  |  |   | 1,754  |  |  |   | 28,759  | 

9



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements (continued)

June 30, 2000 (Unaudited)

9. Environmental and Legal Matters

INTERMET and its subsidiaries are a party to a number of environmental matters
and legal proceedings in the ordinary course of business. We do not believe
there are any pending or threatened legal proceedings to which we are a party,
or to which any of our property is subject, that will have a material adverse
effect on our consolidated financial position, results of operations or
liquidity taken as a whole.

10. Earnings per Share

Basic earnings per share is computed by dividing income available to common
shareholders by the weighted average number of common shares outstanding for
the period. The dilutive earnings per share calculation reflects the assumed
exercise of stock options.

|                                     |                                                                                                               |               |      |                                       |    |                  |      |               |     |               |      |        |    |   |      |        |     | 
|------------------------------------ | ------------------------------------------------------------------------------------------------------------- | ------------- | ---- | ------------------------------------- | -- | ---------------- | ---- | ------------- | --- | ------------- | ---- | ------ | -- | - | ---- | ------ | --- | 
|                                     |                                                                                                               |               |      | Three months ended                    |    | Six months ended
|                                     |                                                                                                               |               |      |                                       |    |                 
|                                     |                                                                                                               |               |      | June 30, 2000                         |    | June 30, 1999    |      | June 30, 2000 |     | June 30, 1999
|                                     |                                                                                                               |               |      |                                       |    |                  |      |               |     |              
|                                     |                                                                                                               |               |      | (in thousands, except per share data)
|Numerator:                          
|                                    
|                                    
|                                    
|                                    
|                                     | Net income                                                                                                    |               | $    | 11,870                                |    |                  | $    | 16,626        |     |               | $    | 21,366 |    |   | $    | 28,759 |    
|                                    
|                                    
|                                    
|                                    
|Denominator:                        
|                                    
|                                    
|                                    
|                                    
|                                     | Denominator for basic
earnings per share  weighted
average shares                                            |               |      | 25,364                                |    |                  |      | 25,411        |     |               |      | 25,359 |    |   |      | 25,616 |    
|                                    
|                                    
|                                    
|                                    
|                                     | Effect of dilutive securities:                                                                               
|                                    
|                                    
|                                    
|                                    
|                                     |                                                                                                               | Stock options |      |                                       | 23 |                  |      |               | 148 |               |      |        | 44 |   |      |        | 124 | 
|                                     |                                                                                                               |               |      |                                       |    |                  |      |               |     |               |      |        |    |   |      |       
|                                     | Denominator for diluted
earnings per share  adjusted
weighted average shares and
assumed exercise of options |               |      | 25,387                                |    |                  |      | 25,559        |     |               |      | 25,403 |    |   |      | 25,740 |    
|                                     |                                                                                                               |               |      |                                       |    |                  |      |               |     |               |      |        |    |   |      |       
|Basic and diluted earnings per
share |                                                                                                               | $             | 0.47 |                                       |    | $                | 0.65 |               |     | $             | 0.84 |        |    | $ | 1.12 |       
|                                     |                                                                                                               |               |      |                                       |    |                  |      |               |     |               |      |        |    |   |      |       

10



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements (continued)

June 30, 2000 (Unaudited)

11. Impairment of Assets and Shutdown

During the fourth quarter of 1999, our board of directors authorized the
closure of our Ironton Iron, Inc. facility and we approved and announced our
plan for the orderly shutdown of Ironton. Ironton recorded expenses associated
with asset impairment and shutdown during the fourth quarter of 1999. Ironton
ceased all operations on March 31, 2000 and terminated employment of
approximately 575 persons during the first quarter as a result of the shutdown.
During the second quarter of 2000, Ironton terminated employment of
approximately 10 people. At June 30, 2000, three people were still employed by
Ironton in administrative functions. Pursuant to a closing agreement
negotiated with the United Steelworkers of America and its Local 3664, all of
the hourly employees were paid severance of approximately $1.0 million, in the
aggregate, during the first quarter of 2000. These expenses were charged
against cost of sales. Ironton agreed to make another $1.0 million severance
payment to hourly employees after production ended, which was contingent on
predetermined production performance as set forth in the closing agreement.
However, the predetermined and agreed upon production performance was not
achieved. Thus, no severance was paid to hourly employees beyond that which
was paid during the first quarter. On April 7, 2000, the union filed a
grievance seeking payment of the remaining $1.0 million severance payment. We
denied the grievance on May 8, 2000 and the union filed an appeal of the denial
in June. The grievance is subject to arbitration under the collective
bargaining agreement. We expect the grievance will be arbitrated in the fourth
quarter of 2000. We are unable to estimate how much, if any, may be awarded.
Thus, we have not recorded any amounts for contingent liabilities with regard
to the arbitration.

During the period of January 1, 2000 to June 30, 2000, Ironton had revenues of
$6.1 million and a net loss of $4.3 million. Included in the net loss is the
$1.0 million of severance paid to the hourly employees during the first quarter
of 2000. During the fourth quarter of 1999, Ironton accrued approximately $1.3
million for severance for salaried employees, as part of the $7.8 million
shutdown accrual. Approximately $0.6 million of that severance accrual and
approximately $0.1 million of the remaining shutdown accrual items were paid
during the six-month period ended June 30, 2000. During the first quarter of
2000, Ironton accrued an additional $0.5 million for asset impairment and
nothing additional for the shutdown. During the first six months of 1999,
Ironton had revenues of $30.8 million and a net loss of $7.6 million.

11



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements (continued)

June 30, 2000 (Unaudited)

12. Fire at Neunkirchen Foundry and Update on the New River Explosion

Neunkirchen Foundry

In the early morning of May 20, 2000, local time, INTERMETs Neunkirchen
Foundry, located in Germany, suffered a fire that caused extensive damage.
There were no injuries. The plant was shut down for several days and production
started again on a limited basis after two weeks. As of June 30, 2000 two out
of four production lines were fully operational and by July 17 a third line was
also back in production. We anticipate that the remaining line will be back in
full operation by mid September.

Local fire and law enforcement officials are completing their investigations of
the incident. The cause of the fire is believed to have been accidental.
However, no official pronouncement has been made yet. We are not able to make
any precise damage estimate at this time, and will be unable to do so until all
of the investigations are complete. INTERMET carries insurance for property,
business interruption and general liability. We have notified our insurance
carriers under all of our applicable insurance policies and we have or will
make claims under the policies as appropriate. Based on the information
currently available to us, we believe that we have adequate insurance coverage
for the losses that have been identified to date.

New River Foundry

The March 5, 2000 explosion and fire that occurred at our New River Foundry is
still being investigated by the Virginia Department of Labor and Industry and
local fire and law enforcement officials. In addition, we are still conducting
our own investigation. There has not yet been any determination of the cause
of the explosion, which is believed to have been accidental. We are not able
to make any precise damage estimate at this time, and will be unable to do so
until all of the investigations are complete. It is possible that fines,
penalties, damages or other sanctions could be sought against us. In
particular, the Virginia Department of Labor and Industry may issue citations
and associated fines within six months of the date of the accident. We will
take appropriate legal steps to defend INTERMET and take other appropriate
action if any fines, penalties, damages or other sanctions are sought.

We have notified our insurance carriers under all of our applicable insurance
policies and we have or will make claims under the policies as appropriate.
Based on the information currently available to us, we believe that we have
adequate insurance coverage for the various losses and costs that have been
identified to date. However, we cannot assure that all of our costs and
expenses resulting from the accident will be covered by insurance.

12



---



INTERMET Corporation

Notes to Interim Condensed Consolidated Financial Statements (continued)

June 30, 2000 (Unaudited)

12. Fire at Neunkirchen Foundry and New River Explosion (continued)

New River Foundry (continued)

In June 2000, the Virginia Department of Environmental Quality issued a new air
permit for New River, which also covers existing operations at our Radford
Foundry located adjacent to the New River plant. We started rebuilding our New
River Foundry at its current site during the second quarter. We anticipate
that we will have the first production line operating in September and the
second line in December. When the second line becomes operational, we expect
that New River will be at the approximate casting capacity it had before the
fire.

Accounting for Insurance Proceeds

In the second quarter of 2000, we received advance insurance proceeds of
approximately $28.6 million for Neunkirchen and New River, in the aggregate.



| |  | Through June 30, 2000, we recorded estimated insurance recovery of approximately $11.5 million against cost of goods sold
for the cost of lost sales.
|- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------
| 
| |  | We booked lost profits of approximately $0.7 million in other non-operating income.                                                                  
| 
| |  | We recorded estimated insurance recovery for accident-related expenses of approximately $7.2 million.                                                
| 
| |  | We recorded approximately $5.9 million for replacement of property, plant and equipment.                                                             
| 
| |  | At June 30, 2000, approximately $3.3 million remains as deferred revenue for Neunkirchen and New River.                                              

13



---



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
this section, 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
INTERMET or its management, are not guarantees of future performance and
involve risks and uncertainties. In addition, readers are cautioned that
actual results may differ materially from those in the forward-looking
statements as a result of various factors including, but not limited to:



| |  | general economic conditions in the markets in which we operate                                                                         
|- |  | ---------------------------------------------------------------------------------------------------------------------------------------
| 
| |  | fluctuations in worldwide or regional automobile and light and heavy truck production                                                  
| 
| |  | labor disputes involving us or our significant customers                                                                               
| 
| |  | changes in practices and/or policies of our significant customers toward outsourcing automotive components and systems                 
| 
| |  | foreign currency and exchange fluctuations                                                                                             
| 
| |  | interest rate fluctuations                                                                                                             
| 
| |  | materials price fluctuations                                                                                                           
| 
| |  | ability to bring additional foundry capacity on line as scheduled                                                                      
| 
| |  | ability to secure all regulatory permits on a timely basis with respect to ongoing capital expenditures for additional
foundry capacity
| 
| |  | factors or presently unknown circumstances that may affect the charges related to the impairment of assets and shutdown
of Ironton     
| 
| |  | ability to rebuild the New River and Neunkirchen foundries on a timely basis, and                                                      
| 
| |  | other risks detailed from time to time in our filings with the Securities and Exchange Commission.                                     

We do not intend to update these forward-looking statements.

Item 2. Managements Discussion and Analysis of Financial Condition and Results
of Operations

Material Changes in Financial Condition

Operating activities provided net cash of $12.7 million during the six-month
period ended June 30, 2000. Depreciation and amortization expense was $27.8
million. Accounts receivable increased $19.2 million from December 31, 1999
because sales during June 2000 were higher than sales during December 1999.
This is due primarily to the traditional holiday shutdown in December.
Accounts payable and accrued taxes decreased $23.1 million from the beginning
of 2000 due to the timing of payments. Our investing activities for the first
six months of 2000 used cash of $10.5 million. We spent $20.9 million for the
purchase of property, plant and equipment and we received $10.3 million in cash
and receivables for the sale of our equity interest in General Products
Delaware Corporation. Net cash provided by financing activities was $17.8
million for the first six months of 2000. Borrowings under our bank revolver
increased $20.5 million. We used this cash to finance operating activities and
purchase fixed assets. Because of the timing of cash received by our German
facilities, we were not able to move the cash from overseas and pay down the
debt before the end of the quarter. We paid $2.0 million in dividends during
the first six months of 2000.

14



---



We have committed capital not yet spent of approximately $21.3 million as of
June 30, 2000. Of this amount, approximately $2.1 million relates to the Ford
I4/I5 valve cover program at Racine and approximately $7.6 million is to
increase capacity to target brake component business at our Havana, Illinois,
facility. We anticipate that the funds needed for the committed capital
spending will come from operations.

On July 13, 2000, our board of directors approved a cash dividend of $0.04 per
share (approximately $1.0 million in aggregate) payable on September 29, 2000
to the holders of record on September 1, 2000.

Material Changes in Results of Operations  Three months ended June 30, 2000

Total salesfor the second quarter of 2000 were $281.9 million, an increase of
$36.2 million (14.7%) from second quarter 1999 sales of $245.7 million. This
increase relates primarily to our acquisitions of Ganton Technologies, Inc. and
Diversified Diemakers, Inc. at the end of 1999. In addition, the two largest
markets we supply, domestic and European light trucks, have had strong sales in
2000. North American light-vehicle production was greater in the second
quarter of 2000 versus that of 1999. These increases were offset partially by
the decrease in sales because of the shutdown of Ironton, the explosion at New
River and, to a lesser degree, the fire at Neunkirchen. Including only those
operations that were in place for the entire second quarters of 2000 and 1999,
sales for the second quarter of 2000 increased $17.7 million (9.9%) from the
second quarter of 1999. New River, Ironton and Neunkirchen are all in the
ferrous-metals segment. Ferrous-metals segment saleswere $169.7 million and
$199.1 million for the second quarters of 2000 and 1999, respectively.
Excluding sales of New River, Ironton and Neunkirchen, sales for the
ferrous-metals segment increased $15.0 million (11.4%) from the second quarter
of 1999. Light-metals segment salesincreased $64.1 million (267.4%) for the
three months ended June 30, 2000 versus those for the three months ended June
30, 1999. This increase is due to our acquisitions at the end of 1999.
Excluding these acquisitions, sales for the light-metals segment during the
second quarter of 2000 would have been slightly higher than its sales during
the second quarter of 1999. Other salesincreased 6.6% for the second quarter
of 2000 versus the same period in 1999.

Domestic salesduring the quarter ended June 30, 2000 were approximately $40.8
million (18.7%) greater than the second quarter of 1999. This increase is due
primarily to acquisitions at the end of 1999, but is partially offset by the
lost sales at New River and the closure of Ironton. For operations in place
both years, sales increased approximately $22.3 million (14.7%) for the second
quarter 2000 from the same period in 1999. This increase is due primarily to
the increase in North American light-vehicle production in the second quarter
of 2000 versus that of 1999 as well as the increase in capacity at one of our
ferrous facilities. European salesduring the three months ended June 30,
2000, in local currency, decreased 5.8% from the same period in the prior year.
This is because of the fire at Neunkirchen in May 2000. Had the fire not
occurred, we expect sales for the first six months of 2000 would have exceeded
sales for the same period in 1999, in local currency. The effect of changes in
the exchange rates on consolidated European sales was an unfavorable $3.0
million (11.8%) for the three-month period ended June 30, 2000 when compared
using exchange rates for the same period in 1999.

15



---



Gross profits for the quarter ended June 30, 2000 and 1999 were $41.3 million
and $33.1 million, respectively. Gross profit as a percentage of sales for the
three months ended June 30, 2000 and 1999 was 14.6% and 13.5%, respectively.
Excluding the results of Ironton, New River, Neunkirchen and the year-end
acquisitions, gross profit as a percentage of sales would have been 14.9% and
16.8% for the second quarters of 2000 and 1999, respectively. We had an
anticipated decrease in volume at one plant. We expect that this facility will
have an increase in volume, greater than the decrease, later this year with the
launch of new products. Also, one of our plants has had a bottleneck problem
in the melt area during the entire first half of 2000, which has affected its
operating performance.

Operating expenses as a percentage of sales were 4.2% and 3.8% for the three
months ended June 30, 2000 and 1999, respectively. This increase is due to the
goodwill amortization related to the acquisitions at the end of 1999.

The effective income tax rate was 41.1% and 20.1% for the second quarters ended
June 30, 2000 and 1999, respectively. During the second quarter of 1999, we
were able to use a one-time tax benefit of $4.5 million related to a change of
tax law in Germany. Without this tax benefit, the effective tax rate would
have been 42.7% for the three months ended June 30, 1999. We continue to use
tax planning to reduce the effective tax rates.

Material Changes in Results of Operations  Six months ended June 30, 2000

INTERMETs total salesfor the first six months of 2000 and 1999 were $589.3
million and $490.9 million, respectively. Again, the increase relates
primarily to our acquisitions of Ganton Technologies, Inc. and Diversified
Diemakers, Inc. at the end of 1999 and the increase in North American
light-vehicle production. The shutdown of Ironton, the explosion at New River
and, to a lesser degree, the fire at Neunkirchen negatively affected sales
during the six-month period ended June 30, 2000. Excluding sales for these
operating units and for the acquisitions, sales for the first half of 2000 and
1999 would have been $383.5 million and $355.6 million, respectively.
Ferrous-metals segment saleswere $33.2 million (8.5%) less in the six-month
period ended June 30, 2000 compared to the same period in 1999. This is due
entirely to the situations effecting Ironton, New River and Neunkirchen.
Excluding results for these three facilities, sales for the ferrous-metals
segment increased $25.2 million (9.6%) from the first half of 2000 over the
same period in 1999. Light-metals segment salesincreased $129.8 million
(262.2%) due to our acquisitions at the end of 1999. Excluding these
acquisitions, sales for the light-metals segment during the first six months of
2000 would have been slightly higher than its sales during the first six months
of 1999. Other salesincreased 5.4% for the six months ended June 30, 2000
versus the same period in 1999.

Domestic salesfor the six-month periods ended June 30, 2000 and 1999 were
$536.7 million and $434.2 million, respectively. The increase is due primarily
to acquisitions at the end of 1999, but is slightly offset by the lost sales at
New River and the closure of Ironton. Domestic sales for operations in place
for both years were $401.2 million and $403.4 million, respectively. European
salesduring the six months ended June 30, 2000, in local currency, increased
5.0% from the same period in the prior year. This is due primarily to Europes
shift from drum brakes to disc brakes for heavy-duty vehicles. The fire
negatively impacted this increase. The effect of changes in the exchange rates
on consolidated European sales was an unfavorable $7.0 million (11.7%) for the
first six months of 2000 when compared using exchange rates for the same period
in 1999.

16



---



Gross profit for the six-month period ended June 30, 2000 was $12.1 million
(17.9%) higher than the gross profit for the first six months of 1999. Gross
profit as a percentage of sales for these same periods were 13.5% and 13.7%,
respectively. Gross profit as a percentage of sales were 14.0% and 16.3%,
respectively, for facilities operating in both years. The decrease relates to
the same reasons given for the decrease in the quarter ended June 30, 2000.

Operating expenses as a percentage of sales were 3.9% for both six months ended
June 30, 2000 and 1999.

The effective income tax rate for the first six months of 2000 and 1999 were
42.9% and 31.2%, respectively. During the first quarter of 2000 we sold our
35% interest in General Products Delaware Corporation for a small book gain.
However, the sale caused an increase in the effective tax rate due to the fact
the General Products had a lower tax basis compared to book basis. During the
second quarter of 1999, we were able to use a one-time tax benefit of $4.5
million related to a change of tax law in Germany. Excluding these items, the
tax rates would have been approximately 42.1 % and 42.4% for the six-month
periods ended June 30, 2000 and 1999, respectively.

Year-2000 Readiness Disclosure

There has been no material change in our Year-2000 readiness since December 31,
1999.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

We are subject to market risk with regard to interest rate, foreign exchange
and commodity pricing. We have analyzed the effect of these risks on the
balance sheets, results of operations and cash flows and we consider the impact
to be immaterial with respect to the commodity pricing risk.

There has been no material change in market risk with regard to interest rate
and foreign exchange since December 31, 1999.

Part II  Other Information

Item 1. Legal Proceedings

There have been no material changes in matters reported in the Form 10-K for
the year ended December 31, 1999.

We are engaged in various legal proceedings and other matters incidental to our
normal business activities. We do not believe there are any pending or
threatened legal proceedings to which we are a party, or to which any of our
property is subject, that will have a material effect on our consolidated
financial position, results of operations or liquidity taken as a whole.

Item 2. Changes in Securities and Use of Proceeds

None.

17



---



Item 3. Defaults upon Senior Securities

None.

Item 4. Submission of Matters to a Vote of Securities Holders

The Annual Meeting of Shareholders was held on April 13, 1999. The following
persons were nominated and elected to serve on the Board of Directors until the
next annual meeting and until their successors are elected and qualified:

|                        |  |           |            |          |  |  |         | 
|----------------------- |  | --------- | ---------- | -------- |  |  | ------- | 
|                        |  | Voted For |            | Withheld
|                        |  |           |            |         
|John Doddridge          |  |           | 20,692,493 |          |  |  | 167,709 | 
|                       
|                       
|                       
|                       
|John P. Crecine         |  |           | 20,812,804 |          |  |  | 47,398  | 
|                       
|                       
|                       
|                       
|Norman Ehlers           |  |           | 20,815,804 |          |  |  | 44,398  | 
|                       
|                       
|                       
|                       
|John R. Horne           |  |           | 20,815,174 |          |  |  | 45,028  | 
|                       
|                       
|                       
|                       
|Thomas H. Jeffs II      |  |           | 20,815,374 |          |  |  | 44,828  | 
|                       
|                       
|                       
|                       
|Harold C. McKenzie, Jr. |  |           | 20,815,274 |          |  |  | 44,928  | 
|                       
|                       
|                       
|                       
|Byron O. Pond           |  |           | 20,815,804 |          |  |  | 44,398  | 
|                       
|                       
|                       
|                       
|John H. Reed            |  |           | 20,815,404 |          |  |  | 44,798  | 
|                       
|                       
|                       
|                       
|Pamela E. Rodgers       |  |           | 20,729,699 |          |  |  | 130,503 | 

The shareholders approved the INTERMET Corporation Executive Stock Option and
Incentive Award Plan. Vote totals were as follows:

|                |  |                       |            | 
|--------------- |  | --------------------- | ---------- | 
|                |  | INTERMET             
|                |  | Corporation Executive
|                |  | Stock Option and     
|                |  | Incentive Award Plan 
|                |  |                      
|Voting for      |  |                       | 14,120,752 | 
|               
|               
|               
|               
|Voting against  |  |                       | 3,230,460  | 
|               
|               
|               
|               
|Abstentions     |  |                       | 120,311    | 
|               
|               
|               
|               
|Broker non-vote |  |                       | 3,388,679  | 

18



---



In addition, the shareholders approved the appointment of Ernst & Young LLP as
the INTERMETs independent auditors for 2000. Vote totals were as follows:

|                |  |             |            | 
|--------------- |  | ----------- | ---------- | 
|                |  | Appointment
|                |  | of Auditors
|                |  |            
|Voting for      |  |             | 20,800,365 | 
|               
|               
|               
|               
|Voting against  |  |             | 25,737     | 
|               
|               
|               
|               
|Abstentions     |  |             | 34,100     | 
|               
|               
|               
|               
|Broker non-vote |  |             | 0          | 

A total of 4,503,622 shares were not voted.

Item 5. Other Information

None.

Item 6. Exhibits and Reports on Form 8-K



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

|               |  |                                                                                              
|-------------- |  | ---------------------------------------------------------------------------------------------
|Exhibit Number |  | Description of Exhibit                                                                       
|               |  |                                                                                              
|10.1           |  | Employment Agreement between INTERMET Corporation and
Gary F. Ruff dated June 1, 1999.       
|              
|              
|              
|              
|10.2           |  | Employment Agreement between INTERMET Corporation and
David L. Neilson dated January 4, 2000.
|              
|              
|              
|              
|27             |  | Financial Data Schedule.                                                                     



|(b) |  | INTERMET filed no reports on Form 8-K for the quarter ended June 30,
2000.
|--- |  | --------------------------------------------------------------------------

19



---



Signatures

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

|                                                                                  
|----------------------------------------------------------------------------------
|INTERMET Corporation                                                              
|                                                                                  
|By:          /s/ Ronald C. Ryninger, Jr.
_________________________________________
|Ronald C. Ryninger, Jr.
Corporate Controller
(Principal Accounting Officer)       
|                                                                                  
|Date:        August 1, 2000                                                       

20



---



Exhibits Index

|               |  |                                                                                               
|-------------- |  | ----------------------------------------------------------------------------------------------
|Exhibit Number |  | Description of Exhibit                                                                        
|               |  |                                                                                               
|10.1           |  | Employment Agreement between INTERMET Corporation and
Gary F. Ruff, dated June 1, 1999.       
|              
|              
|              
|              
|10.2           |  | Employment Agreement between INTERMET Corporation and
David L. Neilson, dated January 4, 2000.
|              
|              
|              
|              
|27             |  | Financial Data Schedule.                                                                      

21