M2 tool steel was used as a feedstock material for casting from the the semisolid range between 1310-1350 o C corresponding to 25 -50 % of the liquid phase. The chemical composition of the investigated steel is following: 0.85%C, 3.9 %Cr, 6.7 %W, 4.7 %Mo and 1.7 % V. A specially constructed machine allowed thixoforming in a protective argon atmosphere and semisolid forming at a high piston velocity powered by a high air pressure. After heating of the feedstock using induction heating by the stamping of semi-liquid sample to a graphite mould pre-heated by resistance heating. The material after thixoforming from 1315 o C shows a globular microstructure with a relatively small globule's size between 30-50 µm. The crystal structure of globules contained, austenite and martensite, while that of the eutectic, ferrite and W 2 C, Fe 3 C, Mo 2 C, M 23 C 6 and VC carbides as determined by X-ray studies and confirmed using electron diffraction studies. The alloying elements like Mo, W and V are concentrated in the eutectic, while Cr only in thixoformed samples segregates to the carbides and indeed M 23 C 6 was identified. The hardness significantly increases up to 780 HV after thixo-forming due to formation of martensite. The other part was cast from the liquid phase at 1450 o C using melt spinning method allowing high cooling rate. The microstructure of melt spun ribbon shows a cellular microstructure of austenitic and martensitic structure without the eutectic. The WC and M 23 C 6 carbides were located at the cell's boundariers. The microhardness near 1300 HV of the ribbon was much higher than that of semisolid formed samples