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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q þ
    
    Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended September 30, 2004, or
 o
    
    Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from  to .
 Commission File Number 0-17028 Ironton Iron, Inc.   Ohio
    
    31-1117407(State or other jurisdiction of
    
    (IRS Employerincorporation or organization)
    
    Identification No.)
 5445 Corporate Drive, Suite 200, Troy, Michigan
(Address of principal executive offices)
    
    48098-2683
(Zip 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 o Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act). Yes o No x At November 15, 2004 there were 23,000 shares of common stock, no par value,
outstanding.




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TABLE OF CONTENTS PART II. OTHER INFORMATIONItem 1. Legal ProceedingsItem 3. Defaults upon Senior SecuritiesSignature
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PART II  OTHER INFORMATION 
 Item 1. Legal Proceedings On September 29, 2004, we, along with our parent, INTERMET Corporation
(INTERMET) and 16 of INTERMETs other domestic subsidiaries filed voluntary
petitions in the U.S. Bankruptcy Court for the Eastern District of Michigan
seeking relief under chapter 11 of the United States Bankruptcy Code. We are
continuing to operate our business as a debtor-in-possession under the
jurisdiction of the Bankruptcy Court and in accordance with the provisions of
the Bankruptcy Code. On October 14, 2004, as
INTERMET was engaged in negotiations for a DIP credit
facility, INTERMETs pre-petition lenders agreed to permit the use of
cash collateral by INTERMETs subsidiaries pending the availability of a DIP
facility. Our use of cash collateral under this agreement extended through
October 22, 2004. On October 22, 2004, we, along with INTERMET and certain of INTERMETs
subsidiaries (collectively, the Borrowers), entered into a DIP Credit
Agreement (the Credit Agreement) with a group of lenders (the Lenders),
Deutsche Bank Trust Company Americas (Deutsche Bank), as collateral agent for
the Lenders and as co-agent, and The Bank of Nova Scotia (Scotia Capital) as
administrative agent for Lenders. The DIP Facility has a stated maturity date
(unless earlier accelerated) of October 21, 2005. On November 8, 2004, the
Borrowers entered into a First Amendment to Debtor in Possession Credit
Agreement (the First Amendment) among the Borrowers, the Lenders, Deutsche
Bank and Scotia Capital. The Credit Agreement provides for a $60.0 million commitment of
debtor-in-possession financing (the DIP Facility) to fund the Borrowers
working capital requirements and other corporate purposes during the Borrowers
chapter 11 proceedings. Pursuant to the terms of the Credit Agreement, the Borrowers are currently able to borrow up to
$20.0 million of the DIP Facility, subject to a budget and other restrictions. The $20.0 million
of availability under the DIP Facility is available to us and to INTERMET
through the end of the year, and will continue to be available to us and to
INTERMET after December 31, 2004 if INTERMET has entered into agreements
satisfactory to Deutsche Bank and Scotia Capital with customers representing
75% of INTERMETs gross sales. The Borrowers ability to borrow the
additional $40.0 remains subject to the following conditions: completion of
collateral documents and other closing deliveries; approval by Deutsche Bank
and Scotia Capital of an updated budget; no material adverse change in the
business or condition of INTERMET and its subsidiaries, taken as a whole;
execution of the customer agreements described above; and minimum availability
of $25.0 million under the borrowing base. Two additional conditions to the
Borrowers ability to borrow the $40.0 million have already been satisfied:
first, the Bankruptcy Court gave its final approval of the DIP Facility on
November 5, 2004, subject to rights of appeal, and second, INTERMET has paid a
commitment fee of approximately $1.0 million to the Lenders. Due to the filing of voluntary petitions under chapter 11, proceedings filed
against us will generally be stayed during the pendency of the reorganization. Item 2. Changes in Securities and Use of Proceeds None. 
 Item 3. Defaults upon Senior Securities The chapter 11 bankruptcy filing of INTERMET and its subsidiaries on September
29, 2004 was a default under INTERMETs First Amended and Restated Credit
Agreement dated January 8, 2004, as amended by the First Amendment to First
Amended and Restated Credit Agreement dated as of April 13, 2004 (together, the
Credit
Agreement), among INTERMET, lenders who are parties to the Credit Agreement
from time to time and the Bank of Nova Scotia, both as lender as administrative
and collateral agent for the lender group. As a result of this default, 3




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the
commitments under the Credit Agreement have terminated and all borrowings,
together with accrued interest, and all other amounts owed by INTERMET,
including all amounts under outstanding letters of credit issued pursuant to
the Credit Agreement, became due and payable. On October 31, 2004, principal,
outstanding letters of credit issued pursuant to the Credit Agreement and
interest in the amount of approximately $188.8 million was owed by INTERMET
under the Credit Agreement. We are a guarantor of this
indebtedness pursuant to a Second Amended and Restated Guaranty Agreement dated
January 8, 2004 by and among us, certain other subsidiaries of
INTERMET and the Bank of Nova Scotia. The chapter 11 bankruptcy filing of INTERMET and its subsidiaries also was a
default under that certain indenture dated as of June 13, 2002 among INTERMET,
certain of its domestic subsidiaries, as guarantors, including us, and U.S. Bank National Association, as trustee. The indenture governs the
$175 million aggregate principal amount of INTERMETS 9-3/4% Senior Notes Due
2009. As a result of the default, the principal amount of the notes plus
accrued and unpaid interest became immediately due and payable. On October 31,
2004, INTERMET owed approximately $181.4 million of principal and interest
under the notes. Item 4. Submission of Matters to a Vote of Security Holders None. Item 5. Other Information None. Item 6. Exhibits and Reports on Form 8-K (a)
    
    ExhibitsNone.(b)
    
    Reports on Form 8-KNo reports on Form 8-K were filed by Ironton during the quarter for which this report is being filed.
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SIGNATURE Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Company has duly caused this Report to be signed on its behalf
by the undersigned, thereunto duly authorized. Ironton Iron, Inc.By:
    
    /s/ Robert E. BeltsRobert E. BeltsPresident of Ironton Iron, Inc.(Principal Executive Officer and Principal Financial Officer)Vice President of Finance and Chief Financial Officer ofINTERMET CorporationDate:
    
    November 15, 2004
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