<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
____________________
NATIONAL-OILWELL, INC.
(NAME OF ISSUER)
COMMON STOCK, PAR VALUE $.01 PER SHARE
--------------------------------------
(TITLE OF CLASS OF SECURITIES)
637071 10 1
-----------
(CUSIP NUMBER OF CLASS OF SECURITIES)
THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED
TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF
1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT
BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE
NOTES).
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SCHEDULE 13G
- -----------------------
CUSIP NO. 637071 10 1
- -----------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Capital Corporation, a New York corporation
I.R.S. #13-1500700
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
New York, USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
1,593,902
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
1,593,902
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,593,902
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_]
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
8.9%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
- ------------------------------------------------------------------------------
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SCHEDULE 13G
CUSIP No. 637071 10 1
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Capital Services, Inc., a Delaware corporation
I.R.S. #06-11095031
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
- ------------------------------------------------------------------------------
NUMBER OF SHARES 5. SOLE VOTING POWER - Disclaimed. See 9 below.
BENEFICIALLY OWNED BY
EACH PERSON WITH
--------------------------------------------------
6. SHARED VOTING POWER - 0
--------------------------------------------------
7. SOLE DISPOSITIVE POWER - Disclaimed. See 9
below.
--------------------------------------------------
8. SHARED DISPOSITIVE POWER - 0
- ------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
Beneficial ownership of all shares is disclaimed by General Electric
Capital Services, Inc.
- ------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [_]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (9)
Not Applicable. See 9 above.
- ------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON - CO
- ------------------------------------------------------------------------------
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SCHEDULE 13G
CUSIP No. 637071 10 1
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Company, a New York corporation
I.R.S. #14-0089340
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York, USA
- -------------------------------------------------------------------------------
NUMBER OF SHARES 5. SOLE VOTING POWER - Disclaimed. See 9 below.
BENEFICIALLY OWNED BY
EACH PERSON WITH
--------------------------------------------------
6. SHARED VOTING POWER - 0
--------------------------------------------------
7. SOLE DISPOSITIVE POWER - Disclaimed. See 9
below.
--------------------------------------------------
8. SHARED DISPOSITIVE POWER - 0
- -------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
Beneficial ownership of all shares is disclaimed by General Electric Company.
- -------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
- -------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (9)
Not Applicable. See 9 above.
- -------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON - CO
- -------------------------------------------------------------------------------
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ITEM 1(A). NAME OF ISSUER:
--------------
National-Oilwell, Inc.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICERS:
------------------------------------------------
5555 San Felipe
Houston, Texas 77056
ITEM 2(A). NAME OF PERSON FILING:
---------------------
This Statement is being filed by:
(i) General Electric Capital Corporation, a New York
corporation ("GE Capital");
(ii) General Electric Capital Services, Inc., a Delaware
corporation ("GECS"), which owns all of the outstanding
capital stock of GE Capital; and
(iii) General Electric Company, a New York corporation ("GE"),
which owns all of the outstanding capital stock of GECS.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
------------------------------------
(i) GE Capital
260 Long Ridge Road
Stamford, Connecticut 06927
(ii) GECS
260 Long Ridge Road
Stamford, Connecticut 06927
(iii) GE
3135 Easton Turnpike
Fairfield, Connecticut 06431
ITEM 2(C). CITIZENSHIP:
-----------
See Item 4 of the Cover Page.
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
----------------------------
Common Stock, par value $.01 per share (the "Common Stock").
1
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ITEM 2(E). CUSIP NUMBER:
------------
637071 10 1
ITEM 3. INFORMATION IF STATEMENT IS BEING FILED PURSUANT TO RULES
13D-1(B) OR 13D-2(B):
Not applicable.
ITEM 4. OWNERSHIP:
---------
As of December 31, 1996, GE Capital was the beneficial owner of
1,593,902 shares of Common Stock (the "GE Capital Shares"). The GE Capital
Shares constitute 8.9% of the outstanding shares of Common Stock based on
17,874,128 shares of Common Stock outstanding. GECS and GE disclaim beneficial
ownership in any shares of Common Stock.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
--------------------------------------------
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
---------------------------------------------------------------
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY:
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
---------------------------------------------------------
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
------------------------------
Not applicable.
ITEM 10. CERTIFICATION:
-------------
Not applicable.
2
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SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Michael A. Gaudino
_____________________________________
Name: Michael A. Gaudino
Title: Vice President
Dated: February 13, 1997
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SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ Nancy E. Barton
_____________________________________
Name: Nancy E. Barton
Title: Senior Vice President,
General Counsel and Secretary
Dated: February 13, 1997
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SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.
GENERAL ELECTRIC COMPANY
By: /s/ Nancy E. Barton
_____________________________________
Name: Nancy E. Barton
Title: Attorney-in-Fact
Dated: February 13, 1997
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EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
Exhibit 1 Joint Filing Agreement dated as of February 13, 1997 by and
among GE Capital, GECS and GE (filed herewith).
Exhibit 2 Power of Attorney executed by GE (incorporated by reference to
Exhibit 5 to the Schedule 13D for LaserMaster Technologies,
Inc., filed on October 6, 1996).
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JOINT FILING AGREEMENT
----------------------
This will confirm the agreement by and among all the undersigned that
the Schedule 13G filed on or about this date with respect to beneficial
ownership of the undersigned of shares of the common stock, par value $.01 per
share, of National-Oilwell, Inc. is being filed on behalf of each of the
undersigned in accordance with Rule 13d-1(f)(1) under the Securities Exchange
Act of 1934. This agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
Dated: February 13, 1997
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Michael A. Gaudino
_____________________________________
Name: Michael A. Gaudino
Title: Vice President
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ Nancy E. Barton
_____________________________________
Name: Nancy E. Barton
Title: Senior Vice President,
General Counsel and
Secretary
GENERAL ELECTRIC COMPANY
By: /s/ Nancy E. Barton
_____________________________________
Name: Nancy E. Barton
Title: Attorney-in-Fact