8-K

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

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   May 24, 2002
                                                 -------------------------------

                        Atchison Casting Corporation
                        ----------------------------
            (Exact name of registrant as specified in its charter)

         KANSAS                  1-12541               48-1156578
- --------------------------------------------------------------------------------
 (State or other jurisdiction   (Commission            (IRS Employer
    of incorporation)           File Number)         Identification No.)


400 South Fourth Street, Atchison, Kansas                 66002
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(Address of principal executive offices)               (zip code)

Registrant's telephone number, including area code    (913) 367-2121
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                                 Not applicable
- --------------------------------------------------------------------------------
        (Former name or former address, if changed since last report)

Item 5.    Other Events.

Atchison Casting Corporation issued a press release today announcing that it has
received formal notice from the New York Stock Exchange ("NYSE") that the
Company is "below criteria" for the NYSE continued listing criteria relating to
total market capitalization over a 30 trading-day period. A copy of the press
release is attached as Exhibit 99.1 hereto and incorporated herein by reference.

Item 7.   Financial Statements and Exhibits.

     (c)  EXHIBITS. The following exhibit is filed herewith:

     99.1 Press release dated May 24, 2002.

                                    SIGNATURE

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

      Date: May 24, 2002



                                    Atchison Casting Corporation


                                    By: /s/ Kevin T. McDermed
                                        --------------------------------
                                          Kevin T. McDermed
                                          Vice President, Chief Financial
                                          Officer, Treasurer and Secretary

EX-99.1

NEWS RELEASE
________________________________________________________________________________
                                                    CONTACT:      Hugh Aiken
                                                                  Kevin McDermed
                                                                  913 367 2121
                                                                  NYSE: FDY

                    Atchison Casting Corporation Notified by
               New York Stock Exchange Regarding Listing Standards


     Atchison, Kansas - May 24, 2002 - Atchison Casting Corporation (NYSE:FDY)
today announced that is has received formal notice from the New York Stock
Exchange ("NYSE") that the Company is "below criteria" for the NYSE continued
listing criteria relating to total market capitalization over a 30 trading-day
period.

     Under the NYSE market capitalization requirement, the Company's total
market capitalization may not be less than $15 million over a 30 trading-day
period. As required by the NYSE, the Company will submit a business plan that
the Company believes will demonstrate compliance with continued listing
standards within eighteen months of the NYSE's notification. If the Committee
accepts the business plan, the Company would be subject to quarterly monitoring
for compliance with the business plan. If the business plan is not accepted, the
Company would be subject to NYSE trading suspension and delisting and, in such
event, the Company would seek an alternative trading venue.

     ACC produces iron, steel and non-ferrous castings for a wide variety of
equipment, capital goods and consumer markets.

     This press release contains forward-looking statements that involve risks
and uncertainties. Such statements include the Company's expectations as to
future performance and contingent obligations. Among the factors that could
cause actual results to differ materially from the forward looking statements
are the following: costs of closing foundries, the results of the reorganization
of the Company's wholly-owned subsidiary Fonderie d'Autun, the amount of any
claims made against Fonderie d'Autun's prior owner which are the subject of
certain guarantees, business conditions and the state of the general economy in
Europe and the US, particularly the capital goods industry, the strength of the
U.S. dollar, British pound sterling and the Euro, interest rates, the Company's
ability to renegotiate or refinance its lending arrangements, utility rates, the
availability of labor, the successful conclusion of union contract negotiations,
the results of any litigation arising out of the accident at Jahn Foundry,
results of any litigation or regulatory proceedings arising from the accounting
irregularities at the Pennsylvania Foundry Group, the competitive environment in
the casting industry and changes in laws and regulations that govern the
Company's business, particularly environmental regulations.

                          ATCHISON CASTING CORPORATION
      400 SOUTH FOURTH STREET o P.O. BOX 188 o ATCHISON, KANSAS 66002-0188
                      o (913) 367-2121 o FAX (913) 367-2155