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

                         Commission File Number: 0-28452

                                   FORM 12b-25
                           NOTIFICATION OF LATE FILING

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

                        For Period Ended: December 31, 2002

            [ ] 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: N/A


PART I-REGISTRANT INFORMATION

         Full Name of Registrant:               PW Eagle, Inc.
         Former Name if Applicable:
         Address of Principal Executive Office: 222 South Ninth Street
                                                Suite 2880
         City, State and Zip Code:              Minneapolis, MN 55402

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. (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;
         (b)     The subject annual report, semi-annual report, transition
                 report on Form 10-K, Form 20-F, Form 11-K, 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 time period.

         Documents from the registrant's Trustee were not available to allow
completion of the 11-K on a timely basis.

         For the reason set forth above, the registrant cannot timely file its
annual report on Form 11-k without unreasonable effort and expense. Management
believes Form 11-K will be completed on or before July 15, 2003.

PART IV-OTHER INFORMATION

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

         ROGER R. ROBB                   (541)                349-8301
         --------------------      ------------------     ------------------
                 (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 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?

         [ ] Yes          [X] 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.

                                 PW Eagle, Inc.
         ---------------------------------------------------------------
                  (Name of Registrant as Specified in Charter)

         has caused this notification to be signed on its behalf by the
         undersigned hereunto duly authorized.


         Date July 1, 2003                  By  /s/ Roger R. Robb
              ------------------               -----------------------------
                                               Roger R. Robb
                                               CHIEF FINANCIAL OFFICER

         INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and title of
the person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.