<PAGE>   1
________________________________________________________________________________
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-K

            [x]     ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF
               THE SECURITIES EXCHANGE ACT OF 1934 (Fee Required)
                  For the fiscal year ended December 31, 1995

          [ ]    TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF
             THE SECURITIES EXCHANGE ACT OF 1934 (No Fee Required)

                         Commission File Number 0-8287
                              LINDBERG CORPORATION


          Delaware                                        36-1391480        
State of Incorporation                               IRS Identification No.

                        6133 North River Road, Suite 700
                            Rosemont, Illinois 60018
                                 (847) 823-2021

          Securities registered pursuant to Section 12(b) of the Act:
                                      None

          Securities registered pursuant to Section 12(g) of the Act:
                                  Common stock


     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.

            Yes [ X ]        No [   ]

     Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to
the best of Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K [ X ]

     The aggregate market value of the voting stock held by non-affiliates of
the Registrant on March 8, 1996 was:  $30,901,304.

     The number of shares of the Registrant's Common Stock outstanding as of
March 8, 1996 was:  4,747,116.
<PAGE>   2

          Documents Incorporated by Reference

     Those sections or portions of the Registrant's 1995 Annual Report to
Stockholders (the "Annual Report") and of the Registrant's definitive Proxy
Statement for use in connection with its annual meeting of stockholders to be
held on April 26, 1996 (the "Proxy Statement"), described in the cross
reference sheet and attached hereto, are incorporated into Parts I, II and III
of this report.

<TABLE>
<CAPTION>
                  Table of Contents
                  -----------------
Item Number and Caption                                                               Page 
-----------------------                                                               -----
<S>      <C>                                                         <C>             <C>
                                                                     PART I

Item 1   Business..............................                                       Annual Report, pp. 18-19
                                                                                      (Note 10);
                                                                                      herein, pp. 4-7

Item 2   Properties............................                                       7-8

Item 3   Legal Proceedings.....................                                       Annual Report, p. 19
                                                                                      (Note 14);
                                                                                      herein, p. 8

Item 4   Submission of Matters to a Vote
         of Security Holders...................                                       8

                                                                      PART II

Item 5   Market for the Registrant's
         Common Equity and Related
         Stockholder Matters...................                                       Annual Report, p. 21
                                                                                      "Stock Market Information";
                                                                                      herein, p. 8

Item 6   Selected Financial Data...............                                       Annual Report, p. 20
                                                                                      "Six Year Financial Review";
                                                                                      herein, p. 8

Item 7   Management's Discussion and
         Analysis of Financial Condition
         and Results of Operations.............                                       Annual Report, pp. 10-11;
                                                                                      herein, p. 9

Item 8   Financial Statements and
         Supplementary Data....................                                       Annual Report, pp. 12-19;
                                                                                      herein, p. 9

Item 9   Changes in and Disagreements
         with Accountants on Accounting
         and Financial Disclosure..............                                       9
</TABLE>

                                     -2-
<PAGE>   3


<TABLE>
<CAPTION>
Item Number and Caption                                                               Page
-----------------------                                                               ----
<S>                                                                 <C>               <C>
                                                                    PART III

Item 10   Directors and Executive Officers
          of the Registrant

     (a)  Identification of directors...................                              Proxy Statement, pp. 1-2,
                                                                                      "The Election of Directors";
                                                                                      herein, p. 9

     (b)  Identification of executive
          officers......................................                              9

Item 11   Executive Compensation........................                              Proxy Statement, pp. 3-7,
                                                                                      "Executive Compensation,"
                                                                                      and p. 7, "Pension and
                                                                                      Retirement Plans" and
                                                                                      "Defined Contribution Plans";
                                                                                      herein, p. 10

Item 12   Security Ownership of Certain
          Beneficial Owners and
          Management....................................                              Proxy Statement, pp. 9-10,
                                                                                      "Stock Ownership";
                                                                                      herein, p. 10


Item 13   Certain Relationships and Related
          Transactions..................................                              Proxy Statement, p. 2,
                                                                                      "The Election of Directors",
                                                                                      and p. 5, "Executive     
                                                                                      Compensation - Compensation
                                                                                      Committee Interlocks and
                                                                                      Insider Participation";
                                                                                      herein, p. 10


                                                                     PART IV

Item 14   Exhibits, Financial Statement
          Schedules and Reports on
          Form 8-K......................................                              10-13

Signatures..............................................                              14

Exhibit Index...........................................                              15-16
</TABLE>





                                      -3-
<PAGE>   4


                                     Part I

Item 1.   Business

General development of business

Lindberg Corporation (the "Company") was founded in 1922, and incorporated in
Illinois in 1924.  In 1976, the Company changed its state of incorporation from
Illinois to Delaware.

     Throughout its history, the Company has maintained a program of internal
growth and outside acquisitions resulting in the 22 domestic plants and one
development center in operation at December 31, 1995.

     The business of the Company, which operates in the field of metallurgical
services and products, is comprised of heat treating plants and manufacturing
facilities.

     In 1992, the Company sold its interest in Lindberg do Brasil, its
50%-owned international affiliate, for $1,250,000 in cash and a note
receivable.  The final payment due on the note was received in 1994.

     In March 1993, the Company announced its intent to restructure its
operations within the Heat Treating Services segment and recorded a charge of
$8,261,000  against pre-tax earnings in the first quarter of 1993 to provide
for the estimated costs of subsequent activities.  As a part of this
restructuring, the Company sold its facilities in Florida and Georgia and
closed its Boston, Massachusetts plant.  Also related to this plan, certain
non-productive assets were written off.  The restructuring activities were
completed during 1995 within the original reserves established in 1993.

     In April 1994, the Company purchased all of the outstanding shares of
Rexcorp U.S. Inc. and its wholly-owned subsidiary, Impact Industries Inc.
(Impact).  Impact is an aluminum die casting facility which produces finish
machined aluminum die castings and assemblies mainly for the automotive and
lawn and garden markets.  The addition of Impact has increased the Company's
business activity related to the automotive market to 35% of total revenues.
This acquisition also tripled the size of the Company's Precision Products
segment, increasing the proportion of total business from that segment from 20%
in 1993 to 45% by year-end 1995.

     In June 1994, the Company entered into an agreement to form a joint
venture partnership between its Alum-A-Therm division and Aerospace Aluminum
Heat Treating Inc.  The partnership commenced operation on July 1, 1994.  Both
businesses engage in heat treating and metal forming of aluminum and titanium
parts, primarily in southern California.

     In November 1994, the Company purchased all of the outstanding shares of
H&H Heat Treating Inc. (H&H).  H&H is a heat treating facility near Los
Angeles.  The acquisition nearly doubled the size of the Company's steel heat
treating activity in that area.

     At December 31, 1995, the Company had 1,119 employees.  Of these
employees, 227 were covered by collective bargaining agreements.  No agreements
will expire during 1996.

Financial Information about Industry Segments

The Company's operations may be divided into two industry segments:  Heat
Treating Services and Precision Products.

     Financial information about the Company's two industry segments as of
December 31, 1995, and for the three





                                      -4-
<PAGE>   5

years ended on that date, is incorporated by reference to pages 18-19 - Note 10
to the Consolidated Financial Statements in the Annual Report.

Narrative description of business

Heat Treating Services:

The Company's principal industry segment is Heat Treating Services.  From 17
plants, this segment provides customers with heat treating of metal, a process
which improves mechanical properties, durability and wear resistance.  This
service is provided to customers both with and without their own heat treating
capabilities.

     While heat treating is offered through a range of processes, market needs
historically have dictated a degree of specialization for most plants.  Among
the many heat treating processes offered are hardening and tempering,
carburizing, nitriding, selective hardening, solution treating and aging,
stress relieving, normalizing, brazing and other specialty processes.

     The Company's heat treating plants are each located in a major industrial
area.  The market for heat treating services for any plant is largely confined
to its local geographic area.  Major industries served by the Company's Heat
Treating Services segment include aerospace, automotive/truck, oilfield
machinery, agricultural and construction equipment, consumer products,
fabricated metal products, production tool and die, defense and precision
machined products.  Parts processed for these industries include machined
pieces, fasteners, forgings, castings and stampings made of nearly all types of
ferrous and certain nonferrous metals, including aluminum and titanium.
Because of the wide customer base served, the loss of a single customer or a
few customers would not have a material adverse effect on this segment.  No
customer accounts for more than 10% of this segment's annual net sales.

     Each plant has competition of varying degrees of intensity.  Each competes
in its market area on the basis of quality, reliable delivery and price.  Plant
management is largely responsible for its own pricing and cost control, and
thus has the flexibility to respond to local area market conditions.  There are
competitors in particular localities larger than the Company's facility located
therein.  Some of these firms are divisions or subsidiaries of large companies
and, therefore, have access to substantial resources.  Competition also exists,
in limited instances, from captive heat treating facilities of manufacturing
concerns, although the Company also considers such concerns as potential
customers.

     In addition to providing heat treating services from the 17 plants, the
Company also provides heat treating through its Strategic Partnership 2000, or
SP 2000, program.  The SP 2000 program allows the Company to provide heat
treating services to its SP 2000 partners, typically manufacturers with a
significant requirement for heat treating, using dedicated equipment at either
its own or its partners' facilities.

     The Company also provides heat treating consulting services through its
Technical and Management Services (T & MS) Group.  The T & MS Group provides
its services to companies with their own in-house heat treating facilities.

     The basic raw material for the Company's heat treating services is energy
in the forms of natural gas and electricity.  The Company has not experienced
any material restrictions by its suppliers of these sources of energy.

      The Company's Heat Treating Services segment employs some environmentally
hazardous materials, including oil and solvents, and has some underground
storage tanks.  The Company has made expenditures to comply with laws and
regulations relating to the protection of the environment, including studies,
investigations and remediation





                                      -5-
<PAGE>   6

of ground contamination, and expects to make such expenditures in the future in
its efforts to comply with existing and future requirements.  Based on existing
regulations, the Company does not anticipate the requirement for material
capital expenditures in its operations to maintain compliance.  However, there
can be no assurance that more stringent regulation or enforcement in the future
will not materially affect the Company's capital expenditures.

       In some cases, the Company has notified state authorities of a possible
need for remediation at heat treating sites it previously operated or currently
operates.  At all such sites, costs which may be incurred are difficult to
accurately predict until the level of contamination is determined, and would be
subject to increase if more contamination is discovered during investigation or
remediation or if state authorities require more remediation than anticipated.
Such costs may be less if the contamination proves to be less than currently
expected, if remediation costs are reduced, and to the extent costs are covered
by insurance or are allocable to others.  The Company has estimated a range of
costs in establishing the accounting reserves noted below.

       The Company has also been notified by various state and federal
governmental authorities that they believe it may be a "potentially responsible
party" or otherwise have responsibility with respect to clean-up obligations at
certain hazardous and other waste disposal sites which were never owned or
operated by the Company.  In some such cases, the Company has effected
settlements with the relevant authorities for immaterial amounts.  In other
such cases, the Company is participating in negotiations for settlement with
the relevant authorities or other parties believed by the Company to be
responsible or has notified the authorities that it denies responsibility for
clean-up obligations.  Management believes that the ultimate outcome will not
have a material effect on the Company's financial condition or results of
operations.

           At December 31, 1995, the Company had reserves of $1.6 million to
cover future anticipated costs for the issues outlined above.  Such reserves
give no effect to possible recoveries from insurers or other potentially
responsible parties nor do they reflect any discount for the several years over
which investigation or remediation amounts may be paid out.

     At December 31, 1995 this segment employed 623 employees as compared to
610 at the prior year-end.

      The Company's Heat Treating Services segment operates with a limited
backlog due to the nature of its businesses.  Operations in this segment
process customer produced parts on a very short turnaround basis; therefore,
backlog in facilities within the segment is generally estimated to be less than
one week.

Precision Products:

The Company's Precision Products segment consists of five plants which produce
over 900 products including precision aluminum castings, aluminum and zinc die
castings and wire mesh conveyor belting products.  Additionally, one
development center provides support, and performs research and development
activities at December 31, 1995.  During 1996, the Company intends on phasing
out this operation as a stand-alone entity.  Markets served by this segment
include the automotive, construction equipment, consumer products, defense,
food processing and heavy-duty truck industries.

     During 1995, activity with various subsidiaries, divisions and affiliates
of General Motors Corporation (GMC), rose to 30% of this segment's total
revenues.  This activity increased significantly in 1995 due to the receipt of
major new production orders at the Company's Impact division.  The loss of GMC
as a customer or a significant reduction in the business generated by GMC would
have a material adverse effect on the segment's results of operations.  Sales
to GMC are made through various subsidiaries, divisions and affiliates that the
Company believes act independently in their purchasing decisions.  Accordingly,
the Company believes that it is unlikely that it would





                                      -6-
<PAGE>   7

lose all of the business generated by GMC.  There can be no assurance, however,
that the historic levels of business from GMC will be maintained.  No other
customer represents more than 10% of the segment's annual net sales.

     The basic raw materials for the Company's manufactured products are
aluminum, zinc, magnesium  and steel wire.  The Company has experienced no
significant difficulty in obtaining these materials.

     Operations within this segment must also ensure that they comply with
environmental protection laws and regulations. Expenditures for this purpose
have not had, nor are they anticipated to have, a material adverse effect upon
the capital expenditures, net earnings or competitive position of this segment.

     The Company is a minority stockholder in a consortium of five industrial
partners called Thixomat, Inc.  This company was formed in 1989 to promote and
commercialize a new metal parts casting technology called Thixomolding(TM). This
process is expected to reduce energy and material consumption while yielding
higher production rates and closer tolerances of castings.

     The number of associates in the Precision Products segment was 481 at
December 31, 1995 compared to 538 at December 31, 1994.


     The backlog totals within the Precision Products segment as of December
31, 1995 and 1994 were estimated to be $17.1 million and $18.6 million,
respectively.  The Company expects all of the backlog at December 31, 1995 to
be filled by December 31, 1996.  The Company does not believe this backlog to
be of a seasonal nature nor does it consider the difference between the
December 31 totals to reflect any significant change or trend in business
activity.

Item 2.  Properties

The principal facilities of the Company are set forth in the following table,
which also indicates the principal product manufactured or service performed at
each location:

<TABLE>
<CAPTION>
                                                         Leased
Location                                                 or Owned

Heat Treating Services Segment:
-------------------------------
<S>                                                      <C>      
Los Angeles, CA                                          Owned
Santa Fe Springs, CA                                     Leased
Berlin, CT                                               Owned
Waterbury, CT                                            Leased
Melrose Park, IL                                         Owned
Wichita, KS                                              Leased
Worcester, MA                                            Owned
Lansing, MI                                              Owned
Minneapolis, MN                                          Leased
St. Louis, MO                                            Owned
Charlotte, NC                                            Leased
Rochester, NY                                            Leased
Solon, OH                                                Owned
Tulsa, OK                                                Owned
Houston, TX                                              Owned
New Berlin, WI                                           Owned
</TABLE>





                                      -7-
<PAGE>   8
<TABLE>
<S>                                                      <C>     
Racine, WI                                               Owned
Alum-A-Therm in Westminster, CA (50% partnership)        Owned

Precision Products Segment:
---------------------------
Modesto, CA                                              Leased
Webster City, IA                                         Owned
Sandwich, IL                                             Owned
Cookeville, TN                                           Owned
Racine, WI                                               Owned

Corporate Office:
-----------------
Rosemont, IL                                             Leased
</TABLE>

The Company also occupies building space at certain of its customers' locations
related to the Company's SP 2000 program.

The Company's facilities are suitable for their respective uses and are, in
general, adequate for the Company's current needs.  All facilities,
particularly in the Heat Treating Services segment, serve largely localized
markets and customers.  Those providing services or products in markets where
economic activity is strong at any particular time operate at relatively high
levels of plant utilization.  The Company believes that it has sufficient
capacity at its current facilities to absorb additional workloads at any
reasonably anticipatable levels.

Item 3.  Legal Proceedings

         Incorporated by reference to page 19 of the Annual Report - Note 14
         to the Consolidated Financial Statements.

Item 4.  Submission of Matters to a Vote of Security Holders

         None


         Executive Officers of the Registrant

         Information regarding the executive officers of the Registrant is
         contained in Part III of this report, Item 10(b), and is 
         incorporated into Part I of this report in reliance on General 
         Instruction G(3) to Form 10-K, by reference.


                                    PART II

Item 5.  Market for the Registrant's Common Equity and Related
         Stockholder Matters

         Incorporated by reference to page 21 of the Annual Report, section
         entitled "Stock Market Information." As of March 8, 1996, the 
         Company had 560 stockholders of record.

Item 6.  Selected Financial Data

         Incorporated by reference to page 20 of the Annual Report, section
         entitled "Six-Year Financial Review."





                                      -8-
<PAGE>   9

Item 7.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations

         Incorporated by reference to pages 10-11 of the Annual Report.

Item 8.  Financial Statements and Supplementary Data

         Incorporated by reference to pages 12-19 of the Annual Report.

Item 9.  Changes in and Disagreements with Accountants on Accounting
         and Financial Disclosure

         None


                                    PART III

Item 10. Directors and Executive Officers of the Registrant

         (a)  Identification of Directors.  Incorporated by reference to pages 
         1-2 of the Proxy Statement, section entitled "The Election of 
         Directors."

         (b)  Identification of Executive Officers

<TABLE>
<CAPTION>
N a m e                   A g e                    P o s i t i o n
-------                   -----                    ---------------
<S>                       <C>                      <C>
Leo G. Thompson           55                       President (since October 1987) and Chief Executive
                                                   Officer (since January 1991); formerly Chief
                                                   Operating Officer (from October 1987 to December
                                                   1990).

Stephen S. Penley         46                       Senior Vice President and Chief Financial Officer
                                                   (since July 1993), Treasurer (since January
                                                   1989), Secretary (since October 1990); formerly Vice 
                                                   President - Finance (from January 1989 to July 1993).

Michael W. Nelson         48                       Senior Vice President and Manager of Heat Treat
                                                   Operations (since July 1993); formerly Vice President
                                                   - Central Region (from June 1992 to June 1993),
                                                   Vice President - Central Region - Heat Treat
                                                   Operations (from July 1990 to May 1992),
                                                   District Manager - Central Region (from December
                                                   1986 to June 1990).

Gary E. Miller            50                       Senior Vice President, Manager of Precision Products
                                                   Operations (since January 1995) and President of Impact
                                                   Industries, Inc. (since June 1990).
</TABLE>

Executive Officers of the Company are elected annually by the Board of
Directors of the Company in April.





                                      -9-
<PAGE>   10

Item 11. Executive Compensation

         Incorporated by reference to pages 3-7 of the Proxy Statement,
         section entitled "Executive Compensation" and to page 7,
         sections entitled "Pension and Retirement Plans" and "Defined
         Contribution Plans."

Item 12. Security Ownership of Certain Beneficial Owners and
         Management

         Incorporated by reference to pages 9-10 of the Proxy Statement,
         section entitled "Stock Ownership."

Item 13. Certain Relationships and Related Transactions

         Incorporated by reference to page 2 of the Proxy Statement, section
         entitled "The Election of Directors", and to page 5, section entitled
         "Executive Compensation - Compensation Committee Interlocks and 
         Insider Participation."


                                    PART IV

Item 14. Exhibits, Financial Statement Schedules and Reports on
         Form 8-K

         The following documents are filed as part of this report:

<TABLE>
<CAPTION>
                                                                                     Page or Reference (1)
                                                                                     ---------------------
  <S>    <C>                                                                         <C>
  (a)    Certain Documents Filed as Part of the Form 10-K
         ------------------------------------------------

         1.  Financial Statements
         ------------------------

         Consolidated Statements of Earnings and
         Stockholders' Equity for the years ended
         December 31, 1995, 1994 and 1993 .................                          Annual Report, p.  12

         Consolidated Balance Sheets as of
         December 31, 1995 and 1994 .......................                          Annual Report, p.  13

         Consolidated Statements of Cash Flows for
         the years ended December 31, 1995, 1994
         and 1993 .........................................                          Annual Report, p.  14

         Notes to Consolidated Financial
         Statements .......................................                          Annual Report, pp. 15-19

         Report of Independent Public
         Accountants ......................................                          Annual Report, p. 20
</TABLE>

(1)  Matters incorporated by reference from the Lindberg Corporation 1995 
     Annual Report.





                                     -10-
<PAGE>   11

<TABLE>
<CAPTION>
       2.  Financial Statements Schedules  (2)                                       Page
       ----------------------------------------                                      ----
       <S>                                                                           <C>      
       VIII.  Valuation and Qualifying Accounts
              and Reserves ...................                                       12

       Report of Independent Public Accountants
       on Schedules .......................                                          13
</TABLE>


  (b)  Reports on Form 8-K.  No reports on Form 8-K were filed during the
       quarter ended December 31, 1995.

  (c)  Exhibits Required by Item 601 of Regulation S-K.  Exhibits required by
       Item 601 of Regulation S-K are listed in the Exhibit Index which is
       attached hereto at pages 15-16 and which is incorporated herein by
       reference.















(2)   Schedules other than those listed above are omitted for the reason that
they are not required or are not applicable, or because the required
information is shown in the financial statements or notes thereto.





                                     -11-
<PAGE>   12

                     LINDBERG CORPORATION AND SUBSIDIARIES

                          SCHEDULE VIII--VALUATION AND

                        QUALIFYING ACCOUNTS AND RESERVES

              FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 and 1993



Allowance for Doubtful Accounts

<TABLE>
<CAPTION>
                                                     1995                      1994                     1993  
                                                   --------                  --------                 --------
<S>                                             <C>                       <C>                   <C>
Balance at beginning of year                      $ 314,000                  $257,000                $ 330,000

 Provision charged to expense
        during the year                             339,000                   103,000                  109,000
 Write-offs during the year,
        net of recoveries                          (325,000)                  (76,000)                (182,000)
 Reserve addition related to purchase
        of  Impact Industries, Inc.                     ---                    30,000                      ---  
                                                   --------                  --------                 -------- 

Balance at end of year                            $ 328,000                  $314,000                $ 257,000
                                                  =========                  ========                =========
</TABLE>





                                     -12-
<PAGE>   13


                             REPORT OF INDEPENDENT
                               PUBLIC ACCOUNTANTS




To the Stockholders of
Lindberg Corporation:

      We have audited, in accordance with generally accepted auditing
standards, the consolidated financial statements included in Lindberg
Corporation's annual report to stockholders incorporated by reference in this
Form 10-K and have issued our report thereon dated January 19, 1996.  Our audit
was made for the purpose of forming an opinion on those statements taken as a
whole.  The schedule listed in the index above is the responsibility of the
Company's management and is presented for purposes of complying with the
Securities and Exchange Commission's rules and is not part of the basic
financial statements.  This schedule has been subjected to the auditing
procedures applied in the audit of the basic financial statements and, in our
opinion, fairly states in all material respects the financial data required to
be set forth therein in relation to the basic financial statements taken as a
whole.



                              ARTHUR ANDERSEN LLP








Chicago, Illinois

January 19, 1996





                                     -13-
<PAGE>   14

SIGNATURES

      Pursuant to the requirements of Section 13 or 15(d) 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.

                                            LINDBERG CORPORATION

                                              BY /s/ Stephen S. Penley
                                                ------------------------------
                                                         Stephen S. Penley
                                              Senior Vice President and Chief 
                                              Financial Officer; Principal 
                                              Financial and Accounting Officer
Dated March 22, 1996

      Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
Registrant in the capacities and on the date indicated.


       /s/ Stephen S. Penley
       --------------------------------                  
            Stephen S. Penley
       Senior Vice President and Chief Financial
       Officer; Principal Financial and
       Accounting Officer

       /s/ Leo G. Thompson
       --------------------------------                  
            Leo G. Thompson
       President and Chief Executive
       Officer, and a Director


       /s/ George H. Bodeen
       --------------------------------                  
            George H. Bodeen
                    Director


       /s/ Raymond F. Decker
       --------------------------------                  
            Dr. Raymond F. Decker
                    Director


       /s/ Raymond A. Jean
       --------------------------------                  
              Raymond A. Jean
                    Director


       /s/ John W. Puth
       --------------------------------                  
                 John W. Puth
                    Director


       /s/ J. Thomas Schanck
       --------------------------------                  
            J. Thomas Schanck
                    Director                       March 22, 1996





                                     -14-
<PAGE>   15


                              LINDBERG CORPORATION
                           Annual Report on Form 10-K
                      for the Year Ended December 31, 1995
                                 Exhibit Index
<TABLE>
<CAPTION>
                                                                                    Page Number (1)
 Number and Description of Exhibit                                                  or reference
----------------------------------                                                  ------------
 <S>                                                                                <C>
 1.    Not applicable

 2.1   Stock Purchase Agreement dated April 19, 1994 among                               (2) 
       Rexcorp Sport International Ltd., Marle Management Ltd., D.F. 
       Haslam Management Ltd., and Gary E. Miller and  
       Lindberg Corporation.

 3.    Articles of Incorporation and By-Laws
       3.1  Certificate of Incorporation (composite)                                     (3)
       3.2  1979 Amendment to Certificate of Incorporation                               (4)
       3.3  1987 Amendment to Certificate of Incorporation                               (5)
       3.4  By-Laws (as amended)                                                         (6)

 4.    Instruments defining the rights of
       security holders, including indentures                                            (7)
       4.1  Amended and Restated Credit Agreement
            Dated as of April 28, 1994                                                   (8)
       4.2  First Amendment to Amended and Restated Credit
            Agreement dated as of November 2, 1995                                       (9)
       4.3  Second Amendment to Amended and Restated Credit
            Agreement dated as of  January 31, 1996                                      Attached
       4.4  Note Agreement dated as of October 15, 1995                                  (10)

 5-9.  Not applicable

 10.   Material contracts
       10.1 Description of Bonus Program                                                 (11)
       10.2 Consulting Agreement Between the
               Registrant and G.H. Bodeen dated
               October 25, 1990                                                          (12)
       10.3 1991 Stock Option Plan for Key Employees                                     (13)
       10.4 1991 Stock Option Plan for Directors                                         (14)

 11.   Statement re computation of per share earnings                                    Attached

 12.   Not applicable

 13.   Information in Annual Report to Stockholders
       incorporated herein by reference                                                  Attached

 14-20. Not Applicable

 21.   Subsidiary of the Registrant                                                      Attached

 22.   Not Applicable

 23.   Consent of Independent Public Accountants                                         Attached

 24-26. Not Applicable

 27.    Financial Data Schedule                                                          Attached

 28.    Not Applicable
</TABLE>










                                     -15-
<PAGE>   16
EXHIBIT
  NO.       DESCRIPTION OF EXHIBITS
-------     -----------------------

(1)         Shown only in manually signed original.

(2)         Incorporated by reference to Exhibit 2.1 of the Registrant's Report
            on Form 8-K dated May 13, 1994, Commission file no. 0-8287.

(3)         Incorporated by reference to Exhibit 3.1 of the Registrant's Annual
            Report on Form 10-K for the year ended December 31, 1980, 
            Commission file no. 0-8287.

(4)         Incorporated by reference to Exhibit 3.2 of the Registrant's Report
            on Form 10-Q for the quarter ended March 31, 1995, Commission file
            no. 0-8287.

(5)         Incorporated by reference to page 6 of the Registrant's Proxy
            Statement filed with the Registrant's Annual Report on Form 10-K for
            the year ended December 31, 1986, Commission file no. 0-8287.

(6)         Incorporated by reference to Exhibit 3.4 of the Registrant's Report
            on Form 10-Q for the quarter ended September 30, 1995, Commission 
            file no. 0-8287.

(7)         Other instruments defining the rights of the holders of long-term
            debt of the Registrant, which is described in Note 5 to the
            financial statements incorporated herein, are omitted pursuant to
            Regulation S-K Item 601(b)(4)(iii)(A). The Registrant agrees to
            furnish copies of such agreements to the Securities and Exchange
            Commission upon request.

(8)         Incorporated by reference to Exhibit 4.2 of the Registrant's Report
            on Form 8-K dated May 13, 1994, Commission file no. 0-8287.

(9)         Incorporated by reference to Exhibit 4.2 of the Registrant's Report
            on Form 10-Q for the quarter ended September 30, 1995, Commission 
            file no. 0-8287.

(10)        Incorporated by reference to Exhibit 4.3 of the Registrant's Report
            on Form 10-Q for the quarter ended September 30, 1995, Commission 
            file no. 0-8287.

(11)        Incorporated by reference to page 6 of the Registrant's Proxy 
            Statement filed with the Registrant's Annual Report on Form 10-K 
            for the year ended December 31, 1995, Commission file no. 0-8287.

(12)        Incorporated by reference to Exhibit 10.5 of the Registrant's Annual
            Report on Form 10-K for the year ended December 31, 1990, Commission
            file no. 0-8287.

(13)        Incorporated by reference to Appendix A of the Registrant's Proxy
            Statement filed with the Registrant's Annual Report on Form 10-K 
            for the year ended December 31, 1994, Commission file no. 0-8287.

(14)        Incorporated by reference to Appendix B of the Registrant's Proxy
            Statement filed with the Registrant's Annual Report on Form 10-K 
            for the year ended December 31, 1994, Commission file no. 0-8287.