SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12B-25
Commission File Number 1-9820
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q
[ ] Form N-SAR
For Period Ended: September 30, 1999
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
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:________________
______________________________________________________________________________
PART I
REGISTRANT INFORMATION
Full name of registrant Birmingham Steel Corporation
Former name if applicable ___________________________________________________
Address of principal executive office (Street and number) 1000 Urban Center
Parkway, Suite 300
City, state and zip code Birmingham, Alabama 35242
PART II
RULE 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. (Check box if appropriate.)
[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, 20-F, 11-K or Form N-SAR, or portion
thereof will be filed on or before the 1st 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 first 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 Form 10-K, 11-K,
20-F, 10-Q, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period. (Attach extra sheets if needed.)
On August 18, 1999, Birmingham Steel Corporation (the "Company")
announced plans to pursue a strategic restructuring of its operations that
would involve, among other things, the sale of its Special Bar Quality
division and its 50% ownership interest in American Iron Reduction, LLC.
These actions were reflected in the Company's Annual Report on Form 10-K
for the fiscal year ended June 30, 1999. As a result of the restructuring,
the preparation of the Company's financial statements and related notes
has been significantly complicated by the need to reflect the businesses
to be divested as discontinued operations, as well as the need to restate
the results of operations for the same period in the prior year. Given such
factors, the Quarterly Report on Form 10-Q could not be filed by the
Company without unreasonable effort or expense in the absence of an
extension. As indicated in Part II above, the Form 10-Q will be filed on or
before the first calendar day following the prescribed due date.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Catherine Pecher (205) 970-1200
- ------------------------------------------------------------------------------
(Name) (Area code) (Telephone number)
(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.
The financial statements will reflect the businesses to be divested
as discontinued operations, both for the fiscal quarter ended September 30,
1999 and the corresponding period in the prior year. This treatment is
similar to that followed in the financial statements contained in the
Company's Annual Report on Form 10-K for the fiscal year ended June 30,
1999. The Company expects to file its Report on Form 10-Q shortly after the
filing of this notice.
Birmingham Steel Corporation
- -----------------------------------------------------------------------------
(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 15, 1999 By: /s/ Kevin E. Walsh
-------------------------------
Kevin E. Walsh
Executive Vice President and
Chief Financial Officer
