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 15, 2002
                                                 -------------------------------

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

         KANSAS                  1-12541               48-1156578
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 (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
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        (Former name or former address, if changed since last report)

Item 5.    Other Events.

Atchison Casting Corporation announced an amendment to the Twelfth Amendment and
Forebearance Agrement in which, among other things, a letter of credit
supporting industrial revenue bonds issued for the benefit of its La Grange
Foundry subsidiary was extended to April 3, 2003. A copy of the letter agreement
is attached as Exhibit 4 hereto and incorporated herein by reference.

Item 7.   Financial Statements and Exhibits.

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

     4    Letter  agreement  dated  May 15, 2002  modifying  the  Twelfth
          Amendment to the Credit Agreement.

                                    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 21, 2002



                                    Atchison Casting Corporation


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