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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
____________________
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 194 ("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
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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.
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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 Capital Corporation, a New York corporation
I.R.S. #13-1500700
- --------------------------------------------------------------------------------
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 - 2,872,804
BENEFICIALLY OWNED BY ------------------------------------------------
EACH PERSON WITH 6. SHARED VOTING POWER - 0
------------------------------------------------
7. SOLE DISPOSITIVE POWER - 2,872,804
------------------------------------------------
8. SHARED DISPOSITIVE POWER - 0
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,872,804
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT ON ROW (9)
5.6%
- --------------------------------------------------------------------------------
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").
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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, 1997, GE Capital was the beneficial owner of 2,872,804
shares of Common Stock (the "GE Capital Shares"). The GE Capital Shares
constitute 5.6% of the outstanding shares of Common Stock based on 50,972,340
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.
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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
/s/ Michael A. Gaudino
By:_____________________________________
Name: Michael A. Gaudino
Title: Vice President
Dated: February 12, 1998
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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.
/s/ Nancy E. Barton
By:____________________________________________
Name: Nancy E. Barton
Title: Senior Vice President, General
Counsel and Secretary
Dated: February 12, 1998
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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
/s/ Michael A. Gaudino
By: __________________________________
Name: Michael A. Gaudino
Title: Attorney-in-Fact
Dated: February 12, 1998
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EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
Exhibit 1 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).