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



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


                      For Period Ended: September 30, 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 Quarterly  Report on
Form 10-Q for the quarter ended September 30, 2001  ("Quarterly  Report") due to
delays in assembling the  information  required to prepare,  and be included in,
the  Quarterly  Report.  As  previously  disclosed,  despite  efforts to improve
operating results through improved operating efficiencies,  medical cost-sharing
arrangements and other initiatives, the prolonged downturn in the steel industry
continues  to  adversely  affect  Keystone's  liquidity  and capital  resources.
Consequently,  Keystone did not make the interest  payment due August 1, 2001 on
its 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
will give 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 has received  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  until  December 7, 2001, and agreed to
not direct the trustee of the Senior Notes  through such date to take any action
or  exercise  any remedy  available  to the  trustee  as a result of  Keystone's
failure to make the interest  payment.  Keystone has received an agreement  from
its primary working capital lender to forbear remedies available to it solely as
a result of Keystone's  failure to make the August 1, 2001  interest  payment on
the Senior Notes. Keystone's board of directors has 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 of a consensual restructuring plan for Keystone.

The efforts by Keystone to obtain the consents  from holders of its Senior Notes
and to obtain the  forebearance of its revolving  credit lender,  as well as the
discussions  by Keystone's  management  with its financial  advisors and certain
creditors regarding possible  restructuring  alternatives,  have consumed scarce
accounting  and  financial  resources,  causing  the  delay  in  assembling  the
information  required to prepare,  and be included in, the Quarterly  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 $82 million and
a net loss of  approximately  $1.3 million in the quarter  ended  September  30,
2001.


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,  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: November 14, 2001               KEYSTONE CONSOLIDATED INDUSTRIES, INC.



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