FIRST CHICAGO NBD CORP
SC 13G/A, 1998-02-04
NATIONAL COMMERCIAL BANKS
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C. 20549

                                 Schedule 13G

                   Under the Securities Exchange Act of 1934
                              (Amendment No. 1)*

                        Greenfield Industries Ins. Del
                                 Common Stock
                                   395058100




Check the following box if a fee is being paid with their statement [_]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See rule 13d-7.)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of their 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.)
 
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  395058100              13G                    PAGE 2 OF 4 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      First Chicago NBD Corporation  38-1984850*                               
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            -0-
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          -0-
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             -0-
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          -0-
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      -0-
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      -0-                                                                

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      *Unless otherwise disclosed herein, all holdings of the Reporting Person 
      are indirect through one or more subsidiaries.

      HC CO
- ------------------------------------------------------------------------------

sec 1745 (6-80)       SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
 
                                                        Page 3 of  4
SEC 13G

SECURITIES AND EXCHANGE COMMISSION

SCHEDULE 13G Amendment No 1

Item 1(a)     Name of Issuer:
              Greenfield Industries Inc.

Item 1(b)     Address of Issuer's Principal Executive Offices:
              470 Old Evans Road
              Evans, Georgia 30809

Item 2(a)     Name of Person filing:
              First Chicago NBD Corporation. ("FCN")

Item 2(b)     Address of Principal Business Offices:
              One First National Plaza
              Chicago, Illinois   60670

Item 2(c)     Citizenship
              Delaware
 
Item 2(d)     Title of Class of Securities:
              Common Stock

Item 2(e)     CUSIP No.:
              395058100

Item 3        Type of Person Filing:
              (g) FCN is a Parent Holding Company in accordance with
              240.13d-1(b)(ii)(g).

Item 4        Ownership:
              The shares listed below were held in a fiduciary capacity by one
              or more subsidiaries of First Chicago NBD Corporation as of
              December 31, 1997
              A.) Amount Beneficially owned: -0-
              B.) Percent of Class: -0-
              C.) Number of shares to which the subject Holding company has:

                   1.) Sole power to vote or direct the vote: -0-
                   2.) Shared power to vote or to direct the vote: -0-
                   3.) Sole power to dispose or to direct the disposition 
                       of: -0-
                   4.) Shares power to dispose or to direct the disposition 
                       of: -0-
<PAGE>
 
                                                      Page 4 of  4


Item 5      Ownership of  5 percent or less of a Class:
            If this statement is being filed to report the fact that as of the
            date hereof the Reporting Person has ceased to be the beneficial
            owner of more than 5 percent of securities, check the following [X].

Item 6      Ownership of More than 5 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: See
            Item 3

Item 8      Identification and Classification of Members of the Group:
            Not Applicable

Item 9      Notice of Dissolution of Group: Not Applicable

Item 10     Certification: By signing below I certify that to the best of my
            knowledge and belief, the securities referred above were acquired in
            the ordinary course of business and were not acquired for the
            purpose of and do not have the effect of changing or influencing the
            control of the issuer of such securities and were not acquired in
            connection with or as a participant in any transaction having such
            purpose of effect.

            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.

Dated:      January 30, 1998

                                    /s/ Daniel T. Lis
                                    ------------------
                                    Daniel T. Lis
                                    Assistant Secretary
 .                                   First Chicago NBD Corporation
                                    (313) 225-3154


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