<PAGE>

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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                               ----------------

                                   FORM 10-Q

                               ----------------

  [X]           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

               For the quarterly period ended September 30, 2000

                                       OR

  [_]       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

                       For the Transition period from to

                         Commission File No. 333-43523

                        Elgin National Industries, Inc.
             (Exact name of registrant as specified in its charter)

                Delaware                               36-3908410
    (State or other jurisdiction of       (I.R.S. Employer Identification No.)
     incorporation or organization)

     2001 Butterfield Road, Suite 1020, Downers Grove, Illinois 60515-1050
                    (Address of principal executive offices)

                         Telephone Number: 630-434-7243
              (Registrant's telephone number, including area code)

   Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. [X] Yes   [_] No

   As of October 31, 2000, there were outstanding 6,408.3 shares of Class A
Common Stock and 19,951.7 shares of Preferred Stock.

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<PAGE>

                        ELGIN NATIONAL INDUSTRIES, INC.

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
PART I--FINANCIAL INFORMATION

  ITEM 1--Financial Statements

    Consolidated Balance Sheets as of September 30, 1999 and December 31,
     1999..................................................................   3

    Consolidated Statements of Income for the Nine Months Ended September
     30, 2000 and September 30, 1999, and for the Three Months Ended
     September 30, 2000 and
     September 30, 1999....................................................   4

    Consolidated Statements of Changes in Stockholder's Deficit for the
     Nine Months Ended September 30, 2000..................................   5

    Condensed Consolidated Statements of Cash Flows for the Nine Months
     Ended
     September 30, 2000 and September 30, 1999.............................   6

    Notes to Condensed Consolidated Financial Statements...................   7

  ITEM 2--Management's Discussion and Analysis of Financial Condition and
   Results of Operations...................................................   9

  ITEM 3--Quantitative and Qualitative Disclosures about Market Risk.......  11

PART II--OTHER INFORMATION

  ITEM 1--Legal Proceedings................................................  12

  ITEM 6--Exhibits and Reports on Form 8-K.................................  12

SIGNATURES.................................................................  13

EXHIBIT INDEX..............................................................  14
</TABLE>

                                       2
<PAGE>

                                     PART I

ITEM 1. FINANCIAL STATEMENTS

            ELGIN NATIONAL INDUSTRIES, INC. AND SUBSIDIARY COMPANIES

                          CONSOLIDATED BALANCE SHEETS

                        (in thousands except share data)
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                     September 30, December 31,
                       ASSETS                            2000          1999
                       ------                        ------------- ------------
<S>                                                  <C>           <C>
Current assets:
  Cash and cash equivalents.........................   $  1,579      $  5,701
  Accounts receivable, net..........................     31,381        27,425
  Inventories, net..................................     15,413        14,492
  Prepaid expenses and other assets.................      1,716           891
  Deferred income taxes.............................      3,197         3,322
                                                       --------      --------
    Total current assets............................     53,286        51,831
Property, plant and equipment, net..................     16,514        15,754
Loans receivable to related parties.................      7,833         7,833
Other assets........................................     23,739        23,686
Goodwill and intangibles............................      7,022         7,600
                                                       --------      --------
    Total assets....................................   $108,394      $106,704
                                                       ========      ========
<CAPTION>
       LIABILITIES AND STOCKHOLDER'S DEFICIT
       -------------------------------------
<S>                                                  <C>           <C>
Current liabilities:
  Current portion of long-term debt.................   $             $  7,109
  Accounts payable..................................     24,800        21,074
  Accrued expenses..................................     12,965        10,807
                                                       --------      --------
    Total current liabilities.......................     37,765        38,990
Long-term debt less current portion.................     73,950        73,950
Other liabilities...................................      2,401         2,194
Deferred income taxes...............................      2,637         3,022
                                                       --------      --------
    Total liabilities...............................    116,753       118,156
                                                       --------      --------
Redeemable preferred stock units....................     12,379        11,834
                                                       --------      --------
Redeemable preferred stock..........................      3,395         3,246
                                                       --------      --------
Common stockholder's deficit:
  Common stock, Class A par value $.01 per share;
   authorized 23,678 shares; 6,408 issued and
   outstanding
  Retained deficit..................................    (24,133)      (26,532)
                                                       --------      --------
    Total stockholder's deficit.....................    (24,133)      (26,532)
                                                       --------      --------
    Total liabilities and stockholder's deficit.....   $108,394      $106,704
                                                       ========      ========
</TABLE>

   The accompanying notes are an integral part of the condensed consolidated
                              financial statements

                                       3
<PAGE>

            ELGIN NATIONAL INDUSTRIES, INC. AND SUBSIDIARY COMPANIES

                       CONSOLIDATED STATEMENTS OF INCOME

                                 (in thousands)
                                  (Unaudited)

<TABLE>
<CAPTION>
                                       For the Nine
                                          Months
                                      Ended September    For the Three Months
                                            30,           Ended September 30,
                                     ------------------  ----------------------
                                       2000      1999       2000        1999
                                     --------  --------  ----------  ----------
<S>                                  <C>       <C>       <C>         <C>
Net sales..........................  $122,087  $107,971  $   40,653  $   35,962
Cost of sales......................    92,396    79,366      31,360      26,694
                                     --------  --------  ----------  ----------
  Gross profit.....................    29,691    28,605       9,293       9,268
Selling, general and administrative
 expenses..........................    18,576    17,611       5,848       5,947
Amortization expense...............       577       613         190         175
                                     --------  --------  ----------  ----------
  Operating income.................    10,538    10,381       3,255       3,146
Other expenses (income)
  Interest income..................      (679)     (962)       (218)       (249)
  Interest expense.................     6,472     6,902       2,132       2,258
                                     --------  --------  ----------  ----------
Income before income taxes.........     4,745     4,441       1,341       1,137
Provision for income taxes.........     1,862     1,741         525         445
                                     --------  --------  ----------  ----------
Net income.........................  $  2,883  $  2,700  $      816  $      692
                                     ========  ========  ==========  ==========
</TABLE>




   The accompanying notes are an integral part of the condensed consolidated
                              financial statements

                                       4
<PAGE>

            ELGIN NATIONAL INDUSTRIES, INC. AND SUBSIDIARY COMPANIES

          CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S DEFICIT

                  For the Nine Months Ended September 30, 2000
                        (in thousands except share data)
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                      Total
                                               Common  Retained   Shareholder's
                                               Stock   (Deficit)     Deficit
                                              -------- ---------  -------------
<S>                                           <C>      <C>        <C>
Balance as of December 31, 1999.............. $        $(26,532)    $(26,532)
   Net income for the nine months ended
    September 30, 2000.......................             2,883        2,883
   Redeemable preferred stock unit dividends,
    net of tax of $211.......................              (334)        (334)
   Redeemable preferred stock dividends
    (19,952 shares at $7.50 per share).......              (150)        (150)
                                              -------- --------     --------
Balance as of September 30, 2000............. $        $(24,133)    $(24,133)
                                              ======== ========     ========
</TABLE>



   The accompanying notes are an integral part of the condensed consolidated
                              financial statements

                                       5
<PAGE>

            ELGIN NATIONAL INDUSTRIES, INC. AND SUBSIDIARY COMPANIES

                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

             For the Nine Months Ended September 30, 2000 and 1999
                                 (in thousands)
                                  (unaudited)

<TABLE>
<CAPTION>
                                                                2000     1999
                                                               -------  -------
<S>                                                            <C>      <C>
Net cash provided by operating activities..................... $ 5,740  $14,719
                                                               -------  -------
Cash flows from investing activities:
  Business acquired, net of cash..............................           (1,667)
  Purchase of property, plant and equipment...................  (2,769)  (1,348)
  Proceeds from sale of assets................................      16       27
  Issuance of notes receivable................................           (4,200)
                                                               -------  -------
  Net cash used by investing activities.......................  (2,753)  (7,188)
                                                               -------  -------
Cash flows from financing activities:
  Repayments of long-term debt................................  (7,109)  (3,246)
                                                               -------  -------
  Net cash used by financing activities.......................  (7,109)  (3,246)
                                                               -------  -------
Net (decrease) increase in cash...............................  (4,122)   4,285
Cash and cash equivalents at beginning of period..............   5,701    9,981
                                                               -------  -------
Cash and cash equivalents at end of period.................... $ 1,579  $14,266
                                                               =======  =======
</TABLE>



   The accompanying notes are an integral part of the condensed consolidated
                              financial statements

                                       6
<PAGE>

           ELGIN NATIONAL INDUSTRIES, INC. AND SUBSIDIARY COMPANIES

             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                  (unaudited)

1. Report Preparation

   The accompanying consolidated financial statements, which have not been
audited by independent certified public accountants, were prepared in
conformity with generally accepted accounting principles and such principles
were applied on a basis consistent with the preparation of the audited
consolidated financial statements included in the Company's December 31, 1999
10-K filed with the Securities and Exchange Commission. The financial
information furnished includes all normal recurring accrual adjustments which
are, in the opinion of management, necessary for a fair statement of results
for the interim period. Results for the first nine months of 2000 are not
necessarily indicative of the results to be expected for the full year. For
further information refer to the Company's consolidated financial statements
included in the annual report on Form 10-K.

2. Inventories

<TABLE>
<CAPTION>
                                                      September 30, December 31,
                                                          2000          1999
                                                      ------------- ------------
                                                            (in thousands)
      <S>                                             <C>           <C>
      Finished goods.................................    $10,313      $ 9,177
      Work-in-process................................      1,256        1,495
      Raw materials..................................      5,528        5,324
                                                         -------      -------
                                                          17,097       15,996
      Less excess and obsolete reserve...............      1,684        1,504
                                                         -------      -------
                                                         $15,413      $14,492
                                                         =======      =======
</TABLE>

                                       7
<PAGE>

           ELGIN NATIONAL INDUSTRIES, INC. AND SUBSIDIARY COMPANIES

       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS--(Continued)


3. Segment Information

   The Company operates primarily in two industries, Manufactured Products and
Engineering Services. In accordance with the Company's method of internal
reporting, corporate headquarters costs are not allocated to the individual
segments. Information about the Company by industry is presented below for the
nine months ended September 30:

<TABLE>
<CAPTION>
                                                               2000      1999
                                                             --------  --------
                                                              (In thousands)
      <S>                                                    <C>       <C>
      Net sales to external customers:
        Manufactured Products..............................  $ 61,926  $ 58,083
        Engineering Services...............................    60,161    49,888
                                                             --------  --------
          Total net sales to external customers............  $122,087  $107,971
                                                             ========  ========
      Net sales to internal customers:
        Manufactured Products..............................  $  2,513  $  2,026
        Engineering Services...............................       147       199
                                                             --------  --------
          Total net sales to internal customers............  $  2,660  $  2,225
                                                             ========  ========
      Total net sales
        Manufactured Products..............................  $ 64,439  $ 60,109
        Engineering Services...............................    60,308    50,087
                                                             --------  --------
          Total net sales..................................   124,747   110,196
      Elimination of net sales to internal customers.......     2,660     2,225
                                                             --------  --------
          Total consolidated net sales.....................  $122,087  $107,971
                                                             ========  ========
      Earnings before interest, taxes and amortization:
        Manufactured Products..............................  $ 10,890  $ 10,211
        Engineering Services...............................     3,605     4,383
                                                             --------  --------
          Total segment earnings before interest, taxes and
           amortization....................................    14,495    14,594
      Corporate expenses before interest, taxes and
       amortization........................................    (3,380)   (3,600)
      Amortization.........................................      (577)     (613)
      Interest income......................................       679       962
      Interest expense.....................................    (6,472)   (6,902)
                                                             --------  --------
          Consolidated income before income taxes..........  $  4,745  $  4,441
                                                             ========  ========
</TABLE>

4. Contingencies

   The Company has claims against others, and there are claims by others
against it, in a variety of matters arising out of the conduct of the
Company's business. The ultimate resolution of all such claims would not, in
the opinion of management, have a material effect on the Company's financial
position, cash flows or results of operations.

5. Adoption of Accounting Principles

   The Company will implement the provisions of Statement of Accounting
Standard No. 133, "Accounting for Derivative Instruments and Hedging
Activities" (SFAS No. 133), which will be effective for fiscal years beginning
after June 15, 2000. SFAS No. 133 requires all derivatives to be recognized in
the statement of financial position as either assets or liabilities and
measured at fair value. In addition, all hedging relationships must be
designated, reassessed and documented pursuant to the provisions of SFAS No.
133. Management believes the adoption of SFAS No. 133 will not have a material
effect on the Company.

                                       8
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
       RESULTS OF OPERATIONS

Results of Operations

 Three Months Ended September 30, 2000 Compared to Three Months Ended
 September 30, 1999

   Net Sales: Net sales for the quarter ended September 30, 2000 increased
$4.7 million, or 13.0%, to $40.7 million from $36.0 million for the
corresponding period in 1999. The Engineering Services Segment's sales
increased $4.0 million, or 22.6%, due to the timing and size of projects. For
the quarter ended September 30, 2000 the Company had six larger projects with
sales in excess of $1.0 million, totalling $13.8 million in sales, compared to
four such projects totalling $10.8 million in sales for the quarter ended
September 30, 1999. The Manufactured Products Segment's sales increased $0.7
million, or 4.0%, primarily due to increased industrial equipment sales,
centrifugal dryer sales, and sales of electronic components, partially offset
with decreased steel fabrication sales.

   Gross Profit: Gross profit for the quarter ended September 30, 2000 of $9.3
million approximated the gross profit for the corresponding period in 1999. As
a percentage of net sales, the gross profit decreased to 22.9% for the quarter
ended September 30, 2000 from 25.8% for the corresponding period in 1999. The
decrease resulted from lower margins earned on larger jobs within the
Engineering Services Segment and lower margins earned on the sales of
industrial capital equipment and sales to original equipment manufacturers
within the Manufactured Products Segment.

   Selling, General and Administrative Expenses: Selling, general and
administrative expenses of the Company for the quarter ended September 30,
2000 of $5.8 million were $0.1 million or 1.7% below the selling and
administrative expenses of $5.9 million for the corresponding period in 1999
due to lower professional fees, partially offset with the inclusion of
selling, general and administrative expenses from Vanco International, Inc.
("Vanco"), which was acquired on September 30, 1999. As a percentage of net
sales, selling, general and administrative expenses decreased from 16.5% for
the quarter ended September 30, 1999 to 14.4% for the quarter ended September
30, 2000 due to decreased sales.

   Amortization Expense: Amortization expense of the Company for the quarter
ended September 30, 2000 of $0.2 million approximated the amortization expense
for the corresponding period in 1999.

   Interest Income: Interest income of the Company for the quarter ended
September 30, 2000 of $0.2 million approximated the interest income for the
quarter ended September 30, 1999.

   Interest Expense: Interest expense of the Company for the quarter ended
September 30, 2000 of $2.1 million decreased $0.2 million from $2.3 for the
quarter ended September 30, 1999 mainly due to the lower level of debt
outstanding.

   Provision for Income Taxes: Provision for income taxes of the Company for
the quarter ended September 30, 2000 of $0.5 million was $0.1 million higher
than the provision for income taxes for the quarter ended September 30, 1999
of $0.4 million due to the higher income before income taxes.

   Net Income: The net income for the Company for the quarter ended September
30, 2000 of $0.8 million was $0.1 million higher than the net income for the
quarter ended September 30, 1999 for the reasons discussed above. Net income
as a percentage of net sales increased to 2.0% for the quarter ended September
30, 2000 from 1.9% for the corresponding quarter in 1999.

 Nine Months Ended September 30, 2000 Compared to Nine Months Ended September
 30, 1999

   Net Sales: Net sales for the nine months ended September 30, 2000 increased
$14.1 million, or 13.1%, to $122.1 million from $108.0 million for the
corresponding period in 1999. The Engineering Services Segment's

                                       9
<PAGE>

sales increased $10.3 million, or 20.6%, due to the timing and size of
projects. For the nine months ended September 30, 2000 the Company had
fourteen projects with sales in excess of $1.0 million, totalling $47.9
million, compared to eleven such projects, totalling $37.5 million for the
nine months ended September 30, 1999. The Manufactured Products Segment's
sales increased $3.8 million, or 6.6%, primarily due to increased sales of
industrial capital equipment and the inclusion of sales of Vanco, which was
acquired on September 30, 1999.

   Gross Profit: Gross profit for the nine months ended September 30, 2000
increased $1.1 million, or 3.8%, to $29.7 million from $28.6 million for the
corresponding period in 1999. As a percentage of net sales, the gross profit
decreased to 24.3% for the nine months ended September 30, 2000 from 26.5% for
the corresponding period in 1999. The decrease was primarily due to a
reduction in the cost of sales of approximately $1.6 million due to the
settlement of a lawsuit relating to an engineering contract claim in 1999 and
higher margins earned on engineering services projects in 1999 resulting from
favorable close outs on completed projects.

   Selling, General and Administrative Expenses: Selling, general and
administrative expenses of the Company for the nine months ended September 30,
2000 of $18.6 million represented an increase of $1.0 million, or 5.5%, from
$17.6 million for the corresponding period in 1999 primarily due to the
inclusion of Vanco's selling, general and administrative expenses in the nine
months ended September 30, 2000.

   Amortization Expense: Amortization expense of the Company for the nine
months ended ended September 30, 2000 of $0.6 million approximated the
amortization expense for the corresponding period in 1999.

   Interest Income: Interest income of the Company of $0.7 million was $0.3
million, or 29.4%, lower than the interest income of $1.0 million for the nine
months ended September 30, 1999. This decrease was due to interest received on
a lawsuit settlement in 1999 and decreased interest bearing deposits in 2000.

   Interest Expense: Interest expense of the Company for the nine months ended
September 30, 2000 of $6.5 million decreased $0.4 million from $6.9 million
for the nine months ended September 30, 1999 mainly due to the lower level of
debt outstanding.

   Provision for Income Taxes: Provision for income taxes of the Company for
the nine months ended September 30, 2000 increased $0.2 million, or 7.0%, to
$1.9 million from $1.7 million for the corresponding period in 1999. The
increase in the provision for income taxes was due to higher earnings.

   Net Income: The net income for the Company for the nine months ended
September 30, 2000 increased $0.2 million, or 6.8%, to $2.9 million from $2.7
million for the nine months ended September 30, 1999 for the reasons discussed
above. Net income as a percentage of net sales decreased to 2.4% for the nine
months ended September 30, 2000 from 2.5% for the corresponding nine month
period in 1999.

Liquidity and Capital Resources

   Net cash provided by operating activities for the nine months ended
September 30, 2000 of $5.7 million was generated from net income and non-cash
charges and increased accounts payable and accrued expenses partially offset
with funds used to increase inventories, accounts receivable and other assets.
Included in non-cash charges for the nine months ended September 30, 2000 was
depreciation of $2.0 million and amortization of $0.6 million, partially
offset with pension overfunding income of $0.7 million. Cash flows from
operations for any specific period are often materially affected by the timing
and amounts of cash receipts and cash disbursements related to engineering
services projects.

   Cash used in investing activities for the nine months ended September 30,
2000 of $2.8 million was for the Company's regular practice of upgrading and
maintaining its equipment base and facilities.

   Cash used in financing activities for the nine months ended September 30,
2000 totalled $7.1 million, and was attributable to the repayment of the
Company's revolving line of credit outstanding and the scheduled repayment of
notes payable.

                                      10
<PAGE>

   The Company's liquidity requirements, both long term (over one year) and
short term, are for working capital, capital expenditures and debt service.
The primary source for meeting these needs has been funds provided by
operations. The Company will also continue to use its liquidity for the
acquisition of a business or product line through strategic acquisitions. As
part of the overall business strategy the Company regularly evaluates
potential acquisition candidates. Based on current and planned operations, the
Company believes that funds provided from operations, along with cash on hand,
will be adequate to meet its anticipated debt service requirements, working
capital needs and capital expenditures. The Company has a credit facility to
provide a $20.0 million revolving line of credit, subject to borrowing base
limitations. The term of this facility expires in February, 2001. At September
30, 2000, there were no borrowings under the Senior Credit Facility (excluding
$4.2 million in outstanding letters of credit).

Backlog

   The Company's backlog consists primarily of that portion of engineering
services contracts that have been awarded but not performed and also includes
open manufacturing orders. Backlog at September 30, 2000 had increased $32.4
million, or 44.6%, to $105.1 million from $72.7 million at December 31, 1999.
A substantial majority of current backlog is expected to be realized in the
next twelve months.

Safe Harbor

   Statements herein regarding the Company's ability to meet its liquidity
requirements, and the Company's expected realization of current backlog
constitute forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Act of 1934. Such statements are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those projected. Further, statements herein regarding the Company's
performance in future periods are subject to risks relating to, deterioration
of relationships with, or the loss of material customers or suppliers,
possible product liability claims, decreases in demand for the Company's
products, and adverse changes in general market and industry conditions.
Management believes these forward-looking statements are reasonable; however,
undue reliance should not be placed on such forward-looking statements, which
are based on current expectations.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

   The Company continues to use its reputation in the United States to expand
into international markets. In the nine months ended September 30, 2000
approximately 11% of the Company's net sales were attributable to services
provided or products sold for use outside the United States, primarily to
Egypt, Australia and Poland. A portion of these net sales and cost of sales is
derived from international operations which are conducted in foreign
currencies. Changes in the value of these foreign currencies relative to the
U.S. dollar could adversely affect the Company's business, financial
condition, results of operation and debt service capability. The majority of
the Company's foreign sales and costs are denominated in U.S. dollars. With
respect to transactions denominated in foreign currencies, the Company
attempts to mitigate foreign exchange risk by contractually shifting the
burden of the risk of currency fluctuations to the other party to the
transactions. It has been the Company's historic practice to conduct
international sales in accordance with the foregoing. There can be no
assurance that the Company's strategies will ensure that the Company will be
fully protected from foreign exchange risk. Foreign sales, particularly
construction management projects undertaken at foreign locations, are subject
to various risks, including exposure to currency fluctuations, political,
religious and economic instability, local labor market conditions, the
imposition of foreign tariffs and other trade barriers, and changes in
governmental policies. There can be no assurance that the Company's foreign
operations, or expansion thereof, would not have a material adverse effect on
the Company's business, financial condition, results of operations and debt
service capability.

                                      11
<PAGE>

                                    PART II

ITEM 1. LEGAL PROCEEDINGS

   The Company and its subsidiaries are involved in legal proceedings from time
to time in the ordinary course of its business. As of the date of this filing,
neither the Company nor any of its subsidiaries are a party to any lawsuit or
proceeding which, individually or in the aggregate, in the opinion of
management, is reasonably likely to have a material adverse effect on the
financial condition, results of operation or cash flow of the Company.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

   None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

   None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

   None

ITEM 5. OTHER INFORMATION

   None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

   (a) Exhibits

     27.0--Financial Data Schedule

   (b) Reports on Form 8-K

     None

                                       12
<PAGE>

                                   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 thereunto duly authorized.

                                          Elgin National Industries, Inc.

                                                  /s/ Wayne J. Conner
                                          By __________________________________
                                                      Wayne J. Conner
                                              Vice President, Treasurer, and
                                                           Chief
                                                     Financial Officer
                                               (Duly Authorized Officer and
                                                         Principal
                                                    Financial Officer)

Dated: November 13, 2000

                                       13
<PAGE>

                                 EXHIBIT INDEX

<TABLE>
<CAPTION>
  Exhibit                                                             Footnote
  Number                     Document Description                     Reference
  -------                    --------------------                     ---------
 <C>       <S>                                                        <C>
  3.1      Certificate of Incorporation of Elgin National
           Industries, Inc.                                              (3)

  3.2      Bylaws of Elgin National Industries, Inc.                     (3)

  4.1      Indenture dated November 5, 1997, between Elgin National
           Industries, Inc., subsidiaries and Norwest Bank
           Minnesota, as Trustee.                                        (2)

  4.2      Form of 11% Senior Note due 2007 (included in Exhibit
           4.1).                                                         (2)

  4.3      Registration Rights Agreement dated November 5, 1997, by
           and among Elgin National Industries, Inc., certain of
           its subsidiaries, and BancAmerica Robertson Stephens and
           CIBC Wood Gundy Securities Corp.                              (3)

  4.4      Form of Subsidiary Guaranty (included in Exhibit 4.1).        (2)

 10.1      Credit Agreement dated as of September 24, 1993, as
           Amended and Restated as of November 5, 1997, by and
           among Elgin National Industries, Inc., various financial
           institutions, and Bank of America National Trust and
           Savings Association, individually and as agent.               (2)

 10.2      Employment and Non-Competition Agreement dated as of
           November 5, 1997, between Elgin National Industries,
           Inc. and Fred C. Schulte.*                                    (2)

 10.3      Employment and Non-Competition Agreement dated as of
           November 5, 1997, between Elgin National Industries,
           Inc. and Charles D. Hall.*                                    (2)

 10.4      Employment and Non-Competition Agreement dated as of
           November 5, 1997, between Elgin National Industries,
           Inc. and Wayne J. Conner.*                                    (2)

 10.5      The Elgin National Industries, Inc. Supplemental
           Retirement Plan dated as of 1995, and effective January
           1, 1995.*                                                     (3)

 27        Financial Data Schedule                                       (1)
</TABLE>
--------
(1) Filed herewith.
(2) Incorporated by reference to Form S-4 Registration Statement of the Company
    (File No. 333-43523) filed with the Commission on December 30, 1997.
(3) Incorporated by reference to Amendment No. 1 to Form S-4 Registration
    Statement of the Company (File No. 333-43523) filed with the Commission on
    January 23, 1998.
   *Management contract or compensatory plan or arrangement.

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