UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                   FORM 12b-25
                           NOTIFICATION OF LATE FILING


                     Keystone Consolidated Industries, Inc.


                             SEC FILE NUMBER: 1-3919
                             CUSIP NUMBER: 493422109



    [ X ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR


                       For Period Ended: December 31, 2001


      [ ] Transition Report on Form 10-K [ ] Transition Report on Form 20-F
      [ ] Transition Report on Form 11-K [ ] Transition Report on Form 10-Q
                       [ ] Transition Report on Form N-SAR
                        For the Transition Period Ended:


    Nothing in this form shall be construed to imply that the Commission has
                   verified any information contained herein.



 If the notification relates to a portion of the filing checked above, identify
          the Item(s) to which the notification relates: Not applicable







                         PART I - REGISTRANT INFORMATION


Full Name of Registrant: Keystone Consolidated Industries, Inc. ("Keystone")

Former Name if Applicable:  Not Applicable

Address of Principal Executive Office: 5430 LBJ Freeway, Suite 1740
                                       Three Lincoln Centre
                                       Dallas, Texas  75240-2697



                        PART II - RULES 12b-25(b) AND (c)


If the subject report could not be filed without  unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed.

[X]      (a)   The reasons  described in  reasonable  detail in Part III of this
               form  could  not be  eliminated  without  unreasonable  effort or
               expense;

[X]      (b)   The subject annual report,  semi-annual report, transition report
               on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion  thereof,
               will be filed on or before the  fifteenth  calendar day following
               the  prescribed  due date;  or the  subject  quarterly  report or
               transition report on Form 10-Q, or portion thereof, will be filed
               on or before the fifth  calendar day following the prescribed due
               date; and

 [  ]    (c)   The  accountant's  statement  or other  exhibit  required by Rule
               12b-25(c) has been attached, if applicable.

                              PART III - NARRATIVE


State below in reasonable  detail the reasons why Forms 10-K,  20-F, 11-K, 10-Q,
N-SAR, or the transition  report or portion  thereof,  could not be filed within
the prescribed period:

Keystone has been unable to complete  the  preparation  of its Annual  Report on
Form 10-K for the year ended  December 31, 2001 ("Annual  Report") due to delays
in  assembling  the  information  required to prepare,  and be included  in, the
Annual Report.

As previously disclosed,  Keystone did not make the interest payments due August
1, 2001 and February 1, 2002 on its $100 million of 9 5/8% Senior  Secured Notes
Due 2007 (the "Senior Notes").  Under the governing indenture, a failure to make
a scheduled  interest  payment for 30 days gives the holders of the Senior Notes
the right to accelerate the unpaid principal of the Senior Notes. Such a failure
also gives the trustee of the Senior Notes the ability to take  certain  actions
and to exercise certain remedies on behalf of the Senior Note holders.  Keystone
received  various  consents  from  holders  representing  more  than  75% of the
principal  amount of the Senior Notes in which the Senior Note holders agreed to
defer  exercising  their right to  accelerate  the  payment of the Senior  Notes
pursuant  to the  acceleration  provisions  of the  Senior  Note  indenture  for
specified  periods of time,  and agreed to not direct the  trustee of the Senior
Notes to take any action or exercise  any remedy  available  to the trustee as a
result  of  Keystone's  failure  to make  the  interest  payment.  In  addition,
Keystone's  primary working capital lender agreed to forbear remedies  available
to it solely as a result of Keystone's  failure to make the interest payments on
the Senior Notes.

Keystone's  board of directors  authorized the management of Keystone,  with the
assistance of its financial  advisors,  to pursue  discussions with creditors of
Keystone,  including  holders of the Senior Notes, to facilitate the development
and  implementation of a consensual,  out-of-court  restructuring for certain of
Keystone's  obligations.  To date, Keystone has completed the following elements
of its restructuring plan:

o         Holders representing  $93,850,000 principal amount of the Senior Notes
          have  exchanged  their Senior Notes for cash and/or new debt or equity
          securities of Keystone,

o         Keystone  executed  agreements with certain key vendors to provide for
          the long-term  repayment of their existing past-due trade obligations,
          and

o         Documents  related to $10 million of new,  interest-free  subordinated
          borrowings for Keystone from the County of Peoria,  Illinois have been
          executed,  and the funds are being  held in escrow by a bank in Peoria
          pending completion of certain other documents.

As part of its restructuring plan, Keystone is still working on obtaining (i) an
extension of its primary working capital credit  facility  through  December 31,
2004 and (ii) new term loan financing from the same lender.

All of these  efforts  by  Keystone  to  develop  and  implement  a  consensual,
out-of-court  restructuring  for certain of its obligations have consumed scarce
accounting  and  financial  resources,  causing  the  delay  in  assembling  the
information  required to  prepare,  and be  included  in, the Annual  Report for
filing.


                           PART IV - OTHER INFORMATION


(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
notification:

 Bert E. Downing, Jr., Vice President and Corporate Controller.  972-450-4293.



(2) Have all other  periodic  reports  required under Section 13 or 15(d) of the
Securities  Exchange Act of 1934 or Section 30 of the Investment  Company Act of
1940  during  the  preceding  12  months  or for such  shorter  period  that the
Registrant was required to file such report(s) been filed?  If the answer is no,
identify report(s).

                                 [X] Yes [ ] No



(3) Is it anticipated that any significant  change in results of operations from
the  corresponding  period for the last  fiscal  year will be  reflected  by the
earnings statements to be included in the subject report or portion thereof?

                                 [X] Yes [ ] No

If so, attach an explanation of the  anticipated  change,  both  narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.

Keystone  currently expects to report net sales of approximately $309 million in
the year ended December 31, 2001.  Keystone expects to report a net loss for the
same period.  While the amount of such net loss is not yet determined,  Keystone
currently  believes  such net loss will be larger  than the $21 million net loss
Keystone reported in the year ended December 31, 2000.

As provided by the safe harbor provisions of the Private  Securities  Litigation
Reform  Act of 1995,  Keystone  cautions  that  statements  in this Form  12b-25
relating to matters that are not historical facts including, but not limited to,
statements  found in this  Part IV - "Other  Information,"  are  forward-looking
statements that represent management's belief and assumptions based on currently
available information.  Forward-looking  statements can be identified by the use
of words such as "believes", "intends", "may", "should", "could", "anticipates",
"expected",  or  comparable  terminology,  or by  discussions  of  strategies or
trends.   Although  Keystone   believes  the  expectations   reflected  in  such
forward-looking  statements are  reasonable,  it cannot give any assurances that
these  expectations  will prove to be correct.  Such  statements by their nature
involve  substantial risks and  uncertainties  that could  significantly  impact
expected  results,  and actual future results could differ materially from those
described  in such  forward-looking  statements.  While  it is not  possible  to
identify all factors,  Keystone  continues to face many risks and uncertainties.
Among the factors that could cause actual  future  results to differ  materially
are the risks and uncertainties  described from time to time in Keystone's other
filings with the Securities and Exchange Commission,  including, but not limited
to, the success of Keystone's out-of-court  restructuring efforts, including the
items  described  in Part III above,  future  supply  and demand for  Keystone's
products (including cyclicality thereof),  customer inventory levels, changes in
raw  material  and other  operating  costs  (such as scrap and  energy)  general
economic conditions,  competitive products and substitute products, customer and
competitor  strategies,  the impact of pricing  and  production  decisions,  the
possibility of labor disruptions, environmental matters (such as those requiring
emission and discharge  standards for existing and new  facilities),  government
regulations and possible changes therein, any significant  increases in the cost
of providing medical coverage to employees and retirees, the ultimate resolution
of  pending  litigation,  successful  implementation  of the  Company's  capital
improvements plan, international trade policies of the United States and certain
foreign  countries,  and any  possible  future  litigation  and other  risks and
uncertainties.   Should  one  or  more  of  these  risks  materialize,  (or  the
consequences of such a development worsen) or should the underlying  assumptions
prove incorrect, actual results could differ materially from those forecasted or
expected. Keystone disclaims any intention or obligation to update or revise any
forward-looking statement whether as a result of new information,  future events
or otherwise.







Keystone Consolidated Industries, Inc. has caused this notification to be signed
on its behalf by the undersigned thereunto duly authorized.




Date: March 28, 2002                KEYSTONE CONSOLIDATED INDUSTRIES, INC.



                                    By: /s/ Bert E. Downing, Jr.
                                        ------------------------
                                        Bert E. Downing, Jr.
                                        Vice President and
                                        Corporate Controller