8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D. C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


                                 March 31, 1997
                Date of Report (Date of earliest event reported)



                           GREENFIELD INDUSTRIES, INC.
             (Exact Name of Registrant as Specified in its Charter)

                                    DELAWARE
                 (State or Other Jurisdiction of Incorporation)

         0-21828                                        04-2917072
(Commission File Number)                  (I.R.S. Employment Identification No.)


         2743 PERIMETER PARKWAY
         BUILDING 100, SUITE 100
            AUGUSTA, GEORGIA                               30909
(Address of Principal Executive Offices)                (Zip Code)

                                  706/863-7708
               (Registrant's telephone number including area code)








ITEM 5.   OTHER EVENTS

On  March  31,  1997,  the  Company  acquired  Hanita  Metal  Works,   Ltd.,  an
Israeli-based company and its U. S. subsidiary Hanita Cuttings Tools, Inc., from
Koors  Industries,  Ltd.  for $20.3  million and assumed  indebtedness  of $13.6
million.  Hanita, with manufacturing  operations in Shlomi, Israel and sales and
distribution  facilities in Mountainside,  New Jersey, is a leading manufacturer
of high quality,  high  performance end mills for the  metalworking  industries.
Hanita had annual sales of approximately $27 million for the year ended December
31, 1996.

ITEM 7.  FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS

(a)      Press release of the Company dated March 31, 1997.



                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                                   GREENFIELD INDUSTRIES, INC.

Date:  April 15, 1997                              by /s/ Gary L. Weller
                                                      __________________________
                                                      Gary L. Weller
                                                      Senior Vice President and
                                                      Chief Financial Officer

EX-99

Contact for Greenfield Industries, Inc.:      Contact for Koor Industries, Inc.:
        Gary L. Weller                                 Amiram Fleisher
        Senior Vice President                          972-3-525-1115
        and Chief Financial Officer
        (706)650-4218


     GREENFIELD INDUSTRIES, INC. ACQUIRES HANITA METAL WORKS, LTD. OF ISRAEL


Augusta, Georgia -- March 31, 1997 -- Greenfield Industries, Inc. (NASDAQ: GFII)
and Koor Industries,  Ltd. (NYSE:  KOR) jointly  announced today that Greenfield
completed the acquisition of Hanita Metal Works, Ltd., an Israeli-based  company
and its U.S.  subsidiary  Hanita  Cutting  Tools,  Inc.,  for $20.3  million and
assumed  indebtedness  of $13.6  million.  For the year ended December 31, 1996,
Hanita reported sales of approximately $27 million.

Hanita,  with  manufacturing   operations  in  Shlomi,   Israel  and  sales  and
distribution  facilities in Mountainside,  New Jersey, is a leading manufacturer
of high  quality,  high  performance  end mills for the  metalworking  industry.
Hanita products are sold through a strong,  well established sales network in 25
countries throughout Eastern and Western Europe, Asia and the United States.

"We are  extremely  pleased  to add  Hanita to our  strong  group of  industrial
cutting tool  businesses," says Greenfied  Industries,  Inc.'s President and CEO
Paul W. Jones.  "This  acquisition,  which will become a part of our  Industrial
Products  Group,  continues  to support  our  strategy  of adding  complementary
businesses to our existing market  segments.  Hanita adds  significantly  to our
global  presence and provides  Greenfield the opportunity to increase its market
position in the cutting tool industry particularly in aerospace,  on a worldwide
basis.  Hanita  products  however,  will  continue to be  manufactured  and sold
through its  traditional  methods and under the same  management  group that has
made Hanita the excellent company it is today."

Benjamin  D.  Gaon,  President  and  CEO  of  Koor  Industries,   described  the
transaction as "a great fit between two great  companies." "As Koor continues to
focus on its three core business segments -  telecommunication  and electronics,
agrochemicals  and building  materials - we are  delighted  that Hanita has been
acquired by Greenfield. We dedicated significant resources towards upgrading the
company and believe  strongly  that  Hanita's  capable  management  will benefit
tremendously  from  inclusion  in  the  Greenfield  family.  This  is  an  ideal
combination for the future growth of the company."





Greenfield  Industries,  Inc. is a leading worldwide  manufacturer of expendable
cutting tools and related products used in a variety of industrial, electronics,
energy and construction, engineered products, consumer and marine markets.

Koor  Industries,  Ltd. is an integrated  industrial  enterprise  employing over
20,000  people in Israel and around the  world.  1996 net income  exceeded  $180
million from revenues of $3.5 billion,  $1.2 billion which were  generated  from
exports and international sales.

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