SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  FORM 10-K
                ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                    OF THE SECURITIES EXCHANGE ACT OF 1934
                                -------------                              

For the fiscal year ended December 31, 1995       Commission File No. 0-16452
                          -----------------                           ------- 

                         A. P. GREEN INDUSTRIES, INC.
                         ----------------------------
            (Exact name of registrant as specified in its charter)

           Delaware                                                43-0899374  
-------------------------------                                    ---------- 
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                            Identification No.)
 
Green Boulevard, Mexico, Missouri                                      65265
---------------------------------------                                -----
(Address of principal executive offices)                           (Zip Code)

Registrant's telephone number, including area code:  (573) 473-3626
Securities registered pursuant to 
   Section 12(b) of the Act:                   None.
Securities registered pursuant to 
   Section 12(g) of the Act:                   Common Stock, $1.00 par value
                                               Preferred Share Purchase Rights

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 (Section 229.405 of this chapter) 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 ]

State the aggregate market value of the voting stock held by nonaffiliates of
the registrant:  As of March 25, 1996, the market value of A. P. Green
Industries, Inc. Common Stock held by non-affiliates was approximately
$70,400,000.

Indicate the number of shares outstanding of each of the registrant's classes
of common stock as of the latest practicable date:  As of March 25, 1996,
4,038,754 shares of Common Stock, $1.00 par value were outstanding.

                     DOCUMENTS INCORPORATED BY REFERENCE

     The following documents are incorporated by reference into the indicated
part of this report:

Document                                                     Part of Form 10-K
--------                                                     -----------------
1995 Annual Report to Stockholders                          Parts I, II and IV
Proxy Statement for 1996 Annual Meeting of Stockholders     Part III

                               -1-
<PAGE>

                                    PART I

ITEM 1.  BUSINESS
                                 Introduction
                                 -------------                                 
 
               Unless the context otherwise requires, A. P. Green
Industries, Inc. and its subsidiaries are referred to in this report
collectively as "A. P. Green" or "the Company."  In most instances,
information about A. P. Green's primary businesses and reportable industry
segments ("Refractory Products" and "Industrial Lime") is presented
separately.

(a)  Development of Business
     ----------------------- 
     General.
     -------
     A. P. Green Industries, Inc., a Delaware corporation, was incorporated as
A. P. Green Refractories Co. in 1967.  In that year, A. P. Green Refractories
Co., a Missouri corporation, was acquired by United States Gypsum Company (now
USG Corporation).  The acquired company was a successor to a business
purchased by Allen P. Green in approximately 1910.

    In 1987, A. P. Green Refractories Co. acquired all of the outstanding
stock of APG Lime Corp., a Delaware corporation, and shortly after such
acquisition changed its name to A. P. Green Industries, Inc.  Effective
February 3, 1988, through a distribution of all the outstanding capital stock
of A. P. Green Industries, Inc. to the common stockholders of USG Corporation,
A. P. Green Industries, Inc. became an independent publicly held company.
                                                                               
    In 1994, the Company acquired substantially all of the assets and assumed
most of the liabilities of the refractory operations of General Refractories
Company and its affiliated companies (collectively referred to as "General"). 
These operations include ten plants in the United States, a plant near
Toronto, Canada and 49% equity interests in two Colombian refractory
companies, Materiales Industriales S. A. and Empresa de Refractarios
Colombianos S.A.

    In 1995, the Company acquired a 51% ownership interest in Plibrico de
Mexico SA de CV (now A. P. Green de Mexico SA de CV), a refractory
manufacturer near Monterrey, Mexico.  In addition, during 1995 the Company
acquired a 51% ownership interest in Lanxide ThermoComposites, Inc. (LTI) and
its wholly owned subsidiary, Chiam  Technologies, Inc., and established
INTOGREEN Co., a partnership of which A. P. Green owns 51%.

    Also in 1995, the Company began construction of a castables manufacturing
plant in West Java, Indonesia.  The plant is expected to begin operations in
the second quarter of 1996.

    The Company, headquartered in Mexico, Missouri, mines, processes,
manufactures and distributes specialty minerals and mineral-based products,
including industrial lime and refractories products in the United States and
international markets.  The Company operates 22 plants in the United States,
Canada, Mexico and the United Kingdom (U.K.).

                               -2-
<PAGE>

    Lime Operations.  
    ---------------
    APG Lime Corp. (APG Lime), a wholly owned subsidiary of A. P. Green and
headquartered in Mexico, Missouri, is involved in the mining and processing of
limestone for various industrial applications, including steel and aluminum
production, pulp and paper processing, soil stabilization for road
construction, water and waste water treatment and various environmental
applications.  It operates two plants, one in Kimballton, Virginia, and one in
New Braunfels, Texas.  It generally serves customers in the geographic region
surrounding its plants.

    Refractory Operations.  
    ---------------------
    Refractories are heat and atmosphere resistant materials that provide the
structure or linings for high temperature furnaces and other vessels.  In
addition to being resistant to thermal stress and other physical phenomena
induced by heat, refractories are often required to provide resistance to
physical wear, thermal cycling and abrasion, as well as to provide insulating
properties.

    A. P. Green offers a broad product line, including basic, clay/alumina and
silica refractories and ceramic fiber products.  Basic refractories are
predominantly composed of magnesite ores, while clay/alumina refractories are
predominantly composed of fireclays and bauxite ores.  Ceramic fiber products
are lightweight refractories similar in appearance to fiberglass insulation
and are provided in many forms including bulk, blanket, folded modules and
vacuum formed shapes.  All are used in a wide variety of industries, including
steel, aluminum, cement, chemicals, ceramics and glass.

    Basic, clay/alumina and silica refractories are manufactured in the form
of bricks and specialties.  Bricks are shaped products formed by mechanical
pressing or die molding.  Specialty products (also known as monolithics)
include refractory cements, castables, plastics and mortars.  Specialized
shapes to serve specific industry needs are also custom made in seven cast
shops located in the United States, Canada, Mexico and the United Kingdom.
                                                                           
    Although the Company purchases some refractory and refractory-related
products from other manufacturers, predominantly all of the refractory
products sold by it are manufactured in its own plants.  The Company and its
wholly owned subsidiaries, A. P Green Refractories Inc. and Detrick Refractory
Fibers, Inc., manufacture refractories in 16 facilities located in the United
States.  The Company's wholly owned subsidiary, A. P. Green Refractories
(Canada) Ltd., organized in 1931, and its subsidiary, 1086215 Ontario, Inc.,
operates two manufacturing facilities in Canada.  The Company's wholly owned
United Kingdom subsidiary, A. P. Green Refractories Limited, acquired by a
predecessor of the Company in 1954, operates one manufacturing facility in
Bromborough, England, snd its subsidiary, Liptak Bradley Limited, installs
refractory products worldwide except for North America.  The Company's 51%
owned Mexican subsidiary, A. P. Green de Mexico SA de CV, operates one
manufacturing facility near Monterrey, Mexico.  Significant investment has
been made, particularly in the United States plants, to improve quality,
production efficiency and environmental controls.

    During 1995 the Company took steps to broaden its technology base. 
INTOGREEN Co., a joint venture partnership with INTOCAST AG, was formed to
sell and install cast monolithic ladle linings to the steel industry in the 
U. S., Canada and Mexico.  INTOCAST AG, based in Germany, is a world leader in
the development of cast ladle linings, which result in lower installation
costs, reduced disposal of used refractory material and increased ladle
availability to the steel plant.  The INTOCAST Endless Lining System
(Registered Trademark)is custom designed for each user.

                               -3-
<PAGE>

    LTI, a 51% owned subsidiary purchased from Lanxide Corporation (Lanxide),
which continues to own a substantial minority interest, concentrates on
commercializing refractory products for the continuous casting segment of the
steel industry utilizing ceramic composites technology licensed from Lanxide. 
One of these products, developed for slide gates, has proven itself superior
in extended tests conducted by steel producers.  Under a separate licensing
agreement, A. P. Green will develop and market refractory products utilizing
the advanced materials technology developed by Lanxide in non-steel
refractory applications throughout the world, excluding Japan.  Included under
the terms of the agreement are all future technologies developed by Lanxide
and its licensees and joint ventures as applicable to non-steel refractory
applications.

(b) Financial Information About Industry Segments
    ---------------------------------------------
    Information regarding industry segments of A. P. Green is set forth in
Note 19 of Notes to Consolidated Financial Statements which is included in 
A. P. Green's 1995 Annual Report to Stockholders and incorporated herein by
reference.

(c) Narrative Description of Business
    ---------------------------------
    Refractory Operations.  
    ---------------------
    A. P. Green manufactures refractory products in its own plants located in
the United States, Canada, Mexico and the United Kingdom.  These products are
sold world wide to industrial end-users and to installers of refractories. 
The major end-users of the Company's refractory products and the percentage of
the Company's 1995 domestic refractory sales to such users are as follows:

                                Percent of 1995         Percent of 1994
                                U.S. Refractory         U.S. Refractory
End-User Industry Category      Products Sales          Products Sales
--------------------------      ---------------         ---------------
Iron and Steel                         33%                     33% 
Nonferrous Metals                      19%                     14% 
Cement, Lime, Gypsum, Paper, 
   Ceramics, Glass and Clay            12%                     13% 
Metal Castings and Fabrication          6%                      7%
Chemicals and Petrochemicals            6%                      8%
Other                                  24%                     25% 
                                                                             
    A. P. Green is a leader in the manufacture and distribution of refractory
materials in North America and throughout the world.  Refractory materials are
sold through a direct sales force, Company-owned distribution centers,
independent distributors, licensees and agents to a diverse cross section of
basic industry.  The Company believes that success in the refractory industry
is dependent, to a large extent, upon developing new products and modifying
existing products in order to provide more value to the industries served.  
A.P. Green has a fully equipped and staffed research facility that can analyze
the refractory failure mechanisms in its customers' applications in order to
determine the optimum refractory solution.  Often the best solution is to use
a more sophisticated product which increases the upfront costs but results in
a lower life cycle cost.  The organization of research engineers, customer
service engineers and product managers have a good track record of designing
optimum solutions.  Product design changes that have been introduced recently
include self-leveling castables and low-rebound gunning products that reduce
installation costs, as well as many products that have been optimized to serve
specific operating conditions.  Some of the new products are based on 
A. P. Green's proprietary Greenlite insulating aggregate which provides high
strength in combination with low thermal conductivities.

                               -4-
<PAGE>

    The Company's employee sales force is located throughout the United
States, Canada and Mexico and in the Caribbean, Australia, Germany and the
United Kingdom.  Refractory products are shipped directly to customers from
the Company's plants and from a large network of distribution centers and
distribution representatives located in the United States, Canada and the 
United Kingdom.

    The United States sales force is divided into four geographic regions and
two industry groups.  The industry groups are specialized sales and marketing
teams that target their efforts to steel and aluminum end-users.  This has
allowed the Company to provide a higher degree of customer assistance on
refractory usage and selection and has enabled sales and marketing personnel
to develop additional expertise in those end-user industries.  This alignment
has been beneficial to specific industry sales of the Company.  Starting in
1992, steps were taken to more effectively coordinate Canadian and United
States refractory sales.  These steps were designed to take advantage of a
centralized marketing plan and to source products more efficiently.

    Lime Operations.  
    ---------------
    APG Lime is engaged in the production of lime for industrial applications. 
This process involves crushing, screening and calcining limestone to produce
high calcium quicklime and hydrate, dolomitic quicklime and Cal-Dol lime
blend.  This processing takes place at Company-owned facilities in New
Braunfels, Texas and Kimballton, Virginia.  In 1994, the Company completed a
project which increased production capacity at the New Braunfels, Texas
facility to take advantage of higher demand for quicklime used in making
precipitated calcium carbonate and other growing markets.  This project also
reduced particulate air emissions and reduced the use of water.  The major
end-users of the Company's lime products and the percentage of the Company's
1995 lime sales to such users is as follows:


                                       Percent of 1995       Percent of 1994
End-User Industry Category           Lime Products Sales   Lime Products Sales
--------------------------           -------------------   -------------------
Pulp and Paper Processing                    35%                   36% 
Steel and Aluminum                           26%                   32% 
Environmental/Water Treatment                16%                   14% 
Road Construction                            14%                   14% 
Chemical Processing                           6%                    1%
Masonry                                       3%                    3%

    Recently developed lime products include Cal-Dol lime blend; high calcium
quicklime noted for specialized sizing and chemical reactivity for use in
production of precipitated calcium carbonate by paper producers; and several
dolomitic building lime products.  Due to their heavy, bulk nature, industrial
lime products cannot be shipped economically over long distances.  This has
resulted in regional sales and distribution, generally within a 300-mile
radius of each facility.  APG Lime's facilities are well located to take
advantage of demand in the Southeastern U.S. and Texas and surrounding states. 
Product distribution involves direct shipments via rail and/or truck from the
plants to the customers and customer pick-up at the plants.

    Raw Materials.  
    -------------
    A. P. Green maintains programs to attempt to ensure the availability of
raw materials, including the purchase of materials for its short-term needs
and the development of long-term sources of supply.  Refractory clay and
silica requirements are obtained from Company-owned deposits located in
Alabama, Arkansas, Colorado, Georgia, Idaho, Missouri, Ohio, Texas and Utah. 
Proven deposits contained approximately 11,200,000 tons of clay and silica as
of December 31, 1995.  Average annual mining of clay and silica during the
last five years was 240,000 tons, with 1995 at 360,000 tons.  Proven reserves

                               -5-
<PAGE>

are estimated to be sufficient for approximately 38 years of operations, based
on recent average annual usage.  The remaining refractory raw materials
requirements are obtained from numerous suppliers.  Refractory-grade bauxite
is imported from China, Guyana and Brazil, and approximately 50% of the
Company's magnesite supply is obtained from China.   On a long-term basis,
there is an adequate supply of materials available from these countries. 
There has been no significant interruption in the availability of Chinese or
Brazilian bauxite or Chinese magnesite.  There have been brief periods of
limited supplies of bauxite from Guyana.  Prices of Chinese bauxite are
expected to increase substantially during 1996 as a result of changes made by
the Chinese government in 1995 affecting bauxite exports, but no supply
interruptions are anticipated.  Some alumina raw materials are available from
only one or two suppliers in the United States.  Current supplies are adequate
to meet A. P. Green's planned production volume for the foreseeable future. 
Aluminum Company of America is a major supplier of alumina chemicals and
supplies up to 90 percent of certain chemicals used by A. P. Green.

    A. P. Green's lime products require two major raw materials, high calcium
limestone and dolomitic limestone.  High calcium limestone is mined and
quarried, respectively, from Company-owned deposits at the Kimballton,
Virginia and New Braunfels, Texas plants.  The deposit at New Braunfels
contained about 50,400,000 tons of usable reserves as of December 31, 1995. 
The average annual usage of quarried limestone at New Braunfels during the
five-year period ended December 31, 1995 was 880,000 tons, with 1995 usage at
1,200,000 tons.  Proven reserves of limestone at this location are estimated
to be sufficient for about 60 years of operations, based on recent average
annual usage.  Company-owned and leased reserves at the Kimballton plant were
estimated at 20,800,000 tons as of December 31, 1995.  The average annual
usage of mined limestone at Kimballton during the five-year period ended
December 31, 1995 was 715,000 tons, with 1995 usage at 754,000 tons.  Proven
reserves of limestone at this location are estimated to be sufficient for 29
years of operations, based on recent average annual usage.  Dolomitic
limestone is purchased from outside suppliers, primarily The Dow Chemical
Company for the New Braunfels plant and Rockydale Quarries Corp. for the
Kimballton plant.  In December 1995, the Dow Chemical Company quarry which
supplies the New Braunfels plant was purchased by Chemical Lime Company.  A
new supply agreement is under negotiation. 

    Energy.  
    ------
    Natural gas used in the production of refractory products represents
approximately 60 percent of total refractory energy costs.  However, natural
gas usage accounts for only approximately 4 percent of the total cost of
refractory sales.  Most manufacturing plants maintain a supply of standby
energy. Electrical costs vary between operations and account for the balance
of refractory energy costs.

    The primary energy source used in the production of lime products is coal,
which accounted for virtually all of the total fuel used at the Kimballton
plant and about 66 percent of the total fuel used at the New Braunfels plant
during 1995.  Natural gas (in lieu of coal) is the other major energy source
used at New Braunfels, accounting for approximately 34 percent of that
facility's total fuel usage in 1995.  Coal for both locations and gas for New
Braunfels are readily available from numerous suppliers.

    Primary energy supplies for both segments have been ample and have not
been a factor in terms of curtailed plant operations.  No major shift in
energy use patterns for either segment is anticipated.

    Seasonality/Cyclicality.  
    -----------------------
    Refractory sales are moderately seasonal and are directly related to
cyclical fluctuations in production levels and new plant additions by
refractory end-users.

                               -6-
<PAGE>

    Lime demand is fairly uniform except for the negative impact of adverse
weather on soil stabilization shipments.  This factor is significant in Texas
and surrounding states as soil stabilization shipments for road construction
projects are somewhat depressed between November and February due to typically
rainy weather conditions.

    Both of the Company's industry segments are sensitive to cyclical
fluctuations in the iron, steel and non-ferrous metals industries.  APG Lime
is also sensitive to cyclical fluctuations in the pulp and paper processing
industries.

    Order Backlog.  
    -------------
    Order backlog for refractories varies by month within a moderate range. 
The order backlog believed to be firm was approximately $31.5 million and
$19.0 million at December 31, 1995 and 1994, respectively, requiring eleven to
twelve weeks to service for 1995 as compared with nine to ten weeks for 1994.
A significant portion of the 1995 increase was due to increased demand for
silica brick, primarily as a result of coke oven rebuilds in the steel
industry and glass oven rebuilds.  While this high demand level is expected to
continue during 1996, it is not necessarily indicative of a long-term trend.
Also contributing to the increased 1995 backlog were increased demand for
precast shapes, increased clay/alumina brick orders from the glass and steel
industries and improvements in reporting procedures from the acquired general
facilities.

    Lime products normally do not have any significant backlog, other than for
soil stabilization backlog related to state highway lettings, which can vary
significantly from period to period.  Such backlog was approximately $3.0
million and $1.2 million at December 31, 1995 and 1994, respectively.

    Competition.  
    -----------
    The refractory industry is highly competitive and demand for refractories
fluctuates with the level of activity in the basic industries.  A. P. Green is
one of six major producers of domestic refractories.  The Company competes
internationally with several major domestic producers and a number of
international companies.  The Company intends to expand its international
refractory sales efforts.  In addition, there are numerous regional domestic
refractory producers.  The major areas of competition in the refractory
industry are service, price and product performance.  Due to the decline of
the United States heavy manufacturing industrial base, the refractory industry
has become more price sensitive in recent years.  New product introductions
are increasing to meet demands of customer operating practices.  More
stringent requirements placed on product quality are being met with improved
quality control at  A. P. Green manufacturing plants to minimize deviations
from refractory manufacturing standards.  The U.K. Bromborough facility and
the Mexico, Missouri, Fulton, Missouri, Sproul, Pennsylvania and Oak Hill,
Ohio plants have been ISO 9002 certified and efforts are being made for
certification of the other major U.S. and Canadian plants.

    The Kimballton, Virginia and New Braunfels, Texas lime plants compete with
three and four primary lime producers, respectively.  Price-sensitive
competition is strong within these areas.

    Capital Expenditures.  
    --------------------
    A. P. Green has implemented a program of maintaining and modernizing its
facilities to improve its competitive position.  In the three years ended
December 31, 1995, A. P. Green invested approximately $22.8 million for such
purposes.  Of those expenditures, 57% ($12.9 million) were for refractories
operations and information systems and 43% ($9.9 million) were for
improvements in lime production and environmental controls.  A. P. Green
believes that these expenditures have provided it with significant cost
reductions in certain segments of its business.

                               -7-
<PAGE>

    Research and Development.  
    ------------------------
    Product and process development activities are principally located at
Mexico, Missouri, in a well equipped facility occupying 43,924 square feet. 
The major objective of the refractory technology department is to maintain 
A. P. Green at the technological forefront of the refractories industry with
development of new and improved refractory products and processes.

    The refractory technology department also is responsible for quality
systems implementation, analytical services, applications engineering, product
installation technical support and technical liaison with foreign operations. 
A pilot plant allows testing during the transition of new products to the
commercial stage.

    Research and development expenditures amounted to approximately $2.9
million, $2.5 million and $2.2 million during 1995, 1994 and 1993,
respectively.

    Significant Customers.  
    ---------------------
    A. P. Green is not dependent upon any single customer or group of
customers on a regular basis, the loss of which would have a materially
adverse effect on A. P. Green.  No customer accounted for more than five
percent of A. P. Green's consolidated annual net sales in 1995, 1994 or
1993.


    Employees.  
    ---------
    The average number of persons employed by A. P. Green during 1995, 1994
and 1993 was 1,966, 1,656 and 1,447, respectively.  Approximately 1,080
employees are members of collective bargaining units.  The represented unions
in the U.S. and Canada are:  the Aluminum Brick and Glass Workers
International Union, the International Brotherhood of Teamsters, Chauffeurs,
Warehousemen and Helpers of America, Laborers International, Brick Layers and
Allied Craftsmen, and the United Steel Workers of America.  The represented
unions in the United Kingdom are:  the Transport and General Workers' Union,
the Amalgamated Union of Engineering Workers and the Union of Construction and
Allied Trades.  The represented union in Monterrey, Mexico is the Federation
Nacional de Sindicatos Independientes.  Five-year collective bargaining
agreements were successfully negotiated in 1993 with the unions represented at
the Mexico, Missouri and Fulton, Missouri plants, in 1994 with the unions
represented at the Bessemer, Alabama and Little Rock, Arkansas plants and in
1995 with the unions represented at the Sulphur Springs, Texas, Gary, Indiana
and Smithville, Ontario plants.  New collective bargaining agreements are to
be negotiated during 1996 at the Oak Hill, Ohio, Lehi, Utah, Rockdale,
Illinois and Sproul, Pennsylvania plants.  A. P. Green considers its relations
with its employees to be good.

    Environmental Matters.  
    ---------------------
    Laws and regulations currently in force which do or may affect 
A. P. Green's domestic operations include the Federal Clean Water Act, the
Reauthorized Clean Air Act of 1990, the National Environmental Policy Act of
1969, the Solid Waste Disposal Act (including the Resource Conservation and
Recovery Act of 1976), the Comprehensive Environmental Response, Compensation
and Liability Act (including the Superfund Amendments and Reauthorization Act
of 1986), the Federal Surface Mining Control and Reclamation Act, the Toxic
Substances Control Act, regulations under these Acts, the environmental
protection regulations of various governmental agencies (e.g., the Bureau of
Land Management Surface Management Regulations, Forest Service Regulations,
Environment Canada Regulations and Department of Transportation Regulations)
and laws and regulations concerned with mining techniques, reclamation of
mined lands, air and water pollution and solid waste disposal. 

                               -8-
<PAGE>

    In Europe, environmental laws and regulations currently in force which do
or may affect the Company's United Kingdom subsidiary include the Rivers
(Prevention of Pollution - Scotland) Act of 1951, the Clean Air Act of 1968,
the Control of Pollution Act of 1974 (amended in 1989), the Health and Safety
at Work Act of 1974, the EC Waste Framework Directive of 1975, the Waste
Regulation and Disposal (Authorities) Order of 1985, the Control of Substances
Hazardous to Health Regulations of 1988, the Water Act of 1989, the
Environmental Protection Act of 1990, local authority air pollution control,
German packaging regulations and the Belgium eco-tax on waste disposal of
packaging products. 

    Environmental laws and regulations currently in force in Mexico which do
or may affect the Company's Mexican subsidiary include Control of Hazardous
Substances and Registry, Health and Safety Meeting Registration and Land
Surface Management Regulations.

    From time to time, the Company experiences on-site inspections by
environmental regulatory authorities who may impose penalties or require
remedial actions.  A. P. Green believes that it has substantially complied
with, and it intends in the future to so comply with, all laws and regulations
(including foreign) governing pollution control and other environmental
conditions in all material respects.  Such compliance has not had, and is not
expected to have, a material adverse effect upon A. P. Green's earnings or
competitive position.  Information regarding environmental and
asbestos-related legal proceedings is set forth in Note 18 of Notes to
Consolidated Financial Statements which are included in A. P. Green's 1995
Annual Report to Stockholders and incorporated herein by reference.  Capital
expenditures have been made over the last several years and are planned in
1996 to install dust and emissions control equipment to improve the impact on
the environment of refractory and lime manufacturing operations.

    Patents, Trademarks, and Licenses.  
    ---------------------------------
    All major product brand names, as well as the "A. P. Green" name, are
registered in the United States and numerous other countries.  A. P. Green
currently holds 23 U.S. patents, and had one patent application outstanding at
December 31, 1995.  The expiration of these patents will not have a
significant financial impact on A. P. Green.  A. P. Green has aggressively
licensed its refractory technology and formulations to refractory producers
around the world.  Currently, there are 12 license agreements with foreign,
unaffiliated companies, three of which cover A. P. Green's full range of
refractory products and nine of which are for limited product lines.

d)  Financial Information About Foreign and Domestic Operations and Export
    ----------------------------------------------------------------------
    Sales
    -----
    Financial information regarding geographic segments of A. P. Green is set
forth in Note 19 of Notes to Consolidated Financial Statements which is
included in A. P. Green's 1995 Annual Report to Stockholders and incorporated
herein by reference.

                               -9-
<PAGE>

ITEM 2.  PROPERTIES

General
-------
    A. P. Green's principal properties are owned, except as noted, and none of
the owned properties are subject to encumbrances, except for buildings and
equipment at the Bessemer, Alabama plant and land and buildings at the
Ellisville, Mississippi plant used to secure the industrial development
revenue bond indebtedness at those plants.  The buildings are adequate and
suitable for the purposes for which they are used, have been well maintained,
are in sound operating condition and are in regular use.

Headquarters
------------
    The headquarters of A. P. Green, which consists of 62,800 square feet of
floor space, is located in Mexico, Missouri.

Refractory Manufacturing Facilities
-----------------------------------
    The following table describes the U.S. refractory  manufacturing 
facilities operated by A. P. Green.  Facilities are owned unless otherwise
indicated.  Plants in Hitchins, Kentucky, Troup, Texas and Warren, Ohio,
obtained in the General acquisition, are excluded as they are no longer in
operation and are currently held for sale.

Location and Nature               Approximate Square       Products
of Property                       Feet of Floor Space      Manufactured
-------------------               -------------------      ------------
Bessemer, Alabama                     150,300              High Alumina and
  Manufacturing buildings,                                 Fireclay Brick
  rail and office

Ellisville, Mississippi                20,000              Board and Special
  Manufacturing and office                                 Shape Refractory
  building                                                 Fiber Products

Fulton, Missouri                      240,200              High Alumina Brick,
 Manufacturing buildings,                                  including Tar
 rail and office                                           Impregnated and 
                                                           Coked Brick

Gary, Indiana                          98,500              Cast Shapes &
 Manufacturing buildings                                   Castables
 and office

Lehi, Utah                            120,000              High Alumina,
 Manufacturing buildings                                   Silica and Basic
 Rail and office                                           Brick; Castables

                               -10-

<PAGE>

Location and Nature                     Approximate Square     Products
of Property                        Feet of Floor Space    Manufactured
-------------------                -------------------    ------------
Little Rock, Arkansas                  37,800               Calcined
Refractory
 Clay storage building,                                     Clay,
 rotary calcining kiln,                                    Refractory Clay
 rail and office

Mexico, Missouri                    1,142,700              Fireclay, High
 Manufacturing buildings,                                  Alumina and 
 rail and office                                           Insulating Brick;
                                                           Zirconia Brick;
                                                           Mortars, Plastics,
                                                           Castables and Light
                                                           Weight Aggregate

Middletown, Pennsylvania              111,200              Cast Shapes
  Manufacturing buildings
  and office

Minerva, Ohio                           9,500              Light Weight
  Leased manufacturing                                     Aggregate and   
building and office                                      Castables
  
Oak Hill, Ohio                        111,100              Mortars, Plastics
  Manufacturing buildings,                                 and Castables
  rail and office

Pryor, Oklahoma                        65,800              Industrial Ceramic
  Manufacturing buildings,                                 Fiber Insulation
  rail and office

Pueblo, Colorado                        1,600              Fireclay
  Maintenance shop and office

Rockdale, Illinois                     78,000              Basic Brick
  Manufacturing buildings,
  rail and office

Sproul, Pennsylvania                  102,100              Mortars, Plastics 
  Manufacturing buildings,                                 and Castables
  rail and office

Sulphur Springs, Texas                193,100              Fireclay and High
  Manufacturing buildings,                                 Alumina Brick;
  rail and office                                          Mortars, Plastics
                                                           and Castables
                               -11-
<PAGE>

Location and Nature                 Approximate Square     Products
of Property                         Feet of Floor Space    Manufactured
-------------------                 -------------------    ------------
Thomasville, Georgia                   24,000              Cast Shapes
  Leased manufacturing
  buildings and office


Mineral Properties
------------------
    Most of the refractory plants listed above utilize clay and/or silica,
which A. P. Green mines or quarries from deposits leased or owned, or
purchases from various sources.  Clay and silica deposits include properties
known to contain commercially recoverable quantities based on core and/or
auger drilling, laboratory testing, surveying and mapping.  Such properties
are held outright in fee simple; under mineral deeds which convey title to all
clay or minerals with full rights of ingress, egress and mining; and under
lease.  The clay reserves are located in Alabama, Arkansas, Colorado, Georgia,
Idaho, Missouri, Ohio and Texas, and a silica mine is located in Utah.

Distribution Centers/Sales Offices
----------------------------------
    A. P. Green operates distribution centers and maintains refractory stocks
and sales offices as indicated in the listing below.  All distribution centers
are on ground level and range up to approximately 22,000 square feet.  With
the exception of Chicago, Illinois, Baton Rouge, Louisiana and St. Louis,
Missouri, which are owned, the distribution centers/sales office facilities
are leased under initial lease terms of one to 20 years.

Distribution Center/Sales Office Locations:

Atlanta, Georgia                            Kearny, New Jersey
Austin, Texas                               Knoxville, Tennessee
Baltimore, Maryland                         Lehi, Utah
Baton Rouge, Louisiana                      Los Angeles, California
Birmingham, Alabama                         Minneapolis, Minnesota
Boston, Massachusetts                       Orange, Connecticut
Buffalo, New York                           Philadelphia, Pennsylvania
Charlotte, North Carolina                   Pittsburgh, Pennsylvania
Chicago, Illinois                           Portland, Oregon
Cincinnati, Ohio                            Roanoke, Virginia
Cleveland, Ohio                             Rockford, Illinois
Dallas, Texas                               St. Louis, Missouri
Detroit, Michigan                           Salt Lake City, Utah
East Moline, Illinois                       San Francisco, California
Evansville, Indiana                         Seattle, Washington
Houston, Texas                              Spokane, Washington
Kansas City, Missouri                       Tampa, Florida

                               -12-
<PAGE>

Lime Operations
---------------
    APG Lime operates two industrial lime manufacturing plants.  The facility
at Kimballton, Virginia consists of an underground mine, rail and various
plant buildings, totaling approximately 83,700 square feet of floor space,
situated on approximately 680 owned acres.  This plant primarily manufactures
industrial lime products and a small amount of soil stabilization lime.
APG Lime owns one-half of the mineral rights under national forest property
adjacent to the Kimballton plant by royalty lease from the Bureau of Land
Management.  Such lease was renewed for an additional 20-year term in 1988. 
The royalty is 2.5 percent of the nominal value of limestone mined.  The New
Braunfels, Texas facility consists of a surface mine, rail and various plant
buildings, totaling approximately 81,000 square feet of floor space, situated
on approximately 1,010 owned acres.  This plant manufactures industrial lime
products, soil stabilization lime and lime-based mortars.  

Canadian Subsidiary
-------------------
    A. P. Green Refractories (Canada) Ltd., a wholly owned subsidiary of 
A. P. Green, owns 17,100 square feet of manufacturing space at Acton, Ontario
to produce crucibles used by the precious metal assaying industry and vacuum
formed fiber products.  1086215 Ontario, Inc., a wholly owned subsidiary of 
A. P. Green Refractories (Canada) Ltd., owns a 170,000 square foot building in
Smithville, Ontario used for manufacturing and storage of basic brick,
refractory mortars, cements, plastics and castables.  In addition, raw
materials, which are imported principally from A. P. Green's U. S. facilities,
are stored there.  Distribution centers and/or sales offices are maintained at
the following locations:  Delta, British Columbia; Edmonton, Alberta;
Montreal, Quebec; Ottawa, Ontario; Quebec City, Quebec; Toronto, Ontario; and
Winnipeg, Manitoba.  All of the facilities are leased under initial lease
terms of one to five years. 

United Kingdom Subsidiaries
---------------------------
    A. P. Green Refractories Limited, a wholly owned subsidiary of A. P. Green
Industries, Inc., leases and operates its headquarters and manufacturing
facility in Bromborough, Wirral, England.  A full range of specialties,
including mortars, plastics and dense and light weight castables are
manufactured in a 76,600 square foot building at this location.  Distribution
centers and sales offices are maintained in Bromborough, Sheffield and London
in England and Risca in Wales to ensure complete customer coverage in the U.K. 
All of these facilities are leased under initial lease terms of one to nine
hundred ninety-nine years.

    Liptak Bradley Limited, a wholly owned subsidiary of A. P. Green
Refractories Limited, operates out of the same premises in  Bromborough,
providing a refractory installation service using exclusively A. P. Green
products.

Mexican Subsidiary
------------------
    A. P. Green de Mexico SA de CV, a 51% owned subsidiary of A. P. Green
Refractories Inc., owns and operates a manufacturing facility located in
Salinas Victoria near Monterrey, Mexico.  Cast shapes, castables, mortars and
plastics are manufactured in a 53,800 square foot facility at this location.

                               -13-
<PAGE>

Indonesian Subsidiary
---------------------
    PT  A.  P.  Green  Indonesia,  a subsidiary owned  80%  by  A. P. Green
Industries, Inc.  and 20% by A. P. Green Refractories, Inc., is constructing a
43,400 square foot castables manufacturing facility in West Java, Indonesia.

ITEM 3.  LEGAL PROCEEDINGS

    Information regarding legal proceedings is set forth in Note 18 of Notes
to Consolidated Financial Statements which is included in A. P. Green's 1995
Annual Report to Stockholders and incorporated herein by reference.

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

    Not applicable.


                                   PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS

    The information set forth below the caption "Common Stock, Market Prices
and Dividends" on page 36 of A. P. Green's 1995 Annual Report to Stockholders
is incorporated herein by reference.

ITEM 6.  SELECTED FINANCIAL INFORMATION

    The information set forth below the caption "Comparative Five-Year
Summary" on page 35 of A. P. Green's 1995 Annual Report to Stockholders is
incorporated herein by reference.

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL CONDITION

    The information set forth below the caption "Management's Discussion and
Analysis of Results of Operations and Financial Condition" on pages 13 through
18 of A. P. Green's 1995 Annual Report to Stockholders is incorporated herein
by reference.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

    The consolidated financial statements of A. P. Green as of December 31,
1995 and 1994 and for each of the years in the three-year period ended
December 31, 1995, and notes thereto (including the quarterly supplementary
data) and the Independent Auditors' Report appear on pages 19 through 34 of
A. P. Green's 1995 Annual Report to Stockholders and are incorporated herein
by reference.  The Independent Auditors' Report for the financial statement
schedule for each of the years in the three-year period ended December 31,
1995, and the financial statement schedule required by Regulation S-X appear
on pages F-1 through F-2 of this Annual Report on Form 10-K.

                               -14-
<PAGE>

ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

    Not applicable.

                                   PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

    The information regarding directors is contained in A. P. Green's Proxy
Statement for the 1996 Annual Meeting of Stockholders under the caption "Item
1 - Election of Directors" and is incorporated herein by reference.

    The following is a list as of March 25, 1996 of the names and ages of the
executive officers of A. P. Green and all positions and offices with 
A. P. Green presently held by the person named.  There is no family
relationship between any of the named persons.

Name                    Age       All Positions Held With A. P. Green
----                    ---       -----------------------------------
Paul F. Hummer II       54        Chairman of the Board,
                                  President and Chief Executive Officer

Jurgen H. Abels         51        Vice President, International

Max C. Aiken            58        Executive Vice President

David G. Binder         59        Vice President and Controller

Ronald L. Bramblett     58        Vice President, Human Resources

Michael B. Cooney       55        Senior Vice President, Law/Administration
                                  and Secretary

Frank J. Cordie         43        Vice President, Refractory Manufacturing

Daniel Y. Hagan         56        Vice President, Refractory Sales

Orville Hunter, Jr.     57        Vice President, Refractory Technology

John L. Kelsey          45        Vice President, Refractory Marketing

Gary L. Roberts         49        Vice President, Chief Financial Officer and
                                  Treasurer

    The executive officers were appointed by, and serve at the pleasure of,
the Board of Directors of A. P. Green.  Except for Mr. Cordie, all executive
officers have held the position listed or another position with A. P. Green or
an entity affiliated with A. P. Green for at least five years.  Mr. Cordie was
Regional Director, Refractory Production of A. P. Green from October 1995 to
February 1996 and Vice President of Production at Jenkins Brick Co. from
February 1991 to September 1995.  

                               -15-
<PAGE>

ITEM 11.  EXECUTIVE COMPENSATION

    Information regarding executive compensation is contained in A. P. Green's
Proxy Statement for the 1996 Annual Meeting of Stockholders under the caption
"Compensation of Executive Officers" and is incorporated herein by reference.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

    Information regarding security ownership of certain beneficial owners and
management is contained in A. P. Green's Proxy Statement for the 1996 Annual
Meeting of Stockholders under the captions "Voting Securities and the
Principal Holders Thereof" and "Security Ownership by Management" and is
incorporated herein by reference.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

    Not applicable.

                                   PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULE AND REPORTS ON FORM 8-K

(a) 1.   Consolidated Financial Statements
         ---------------------------------
    The following Consolidated Financial Statements of A. P. Green are
contained in A. P. Green's 1995 Annual Report to Stockholders on the following
pages thereof:
                                                                Annual Report
                                                               Page Reference
                                                               --------------
    Consolidated Statements of Earnings - Years Ended
         December 31, 1995, 1994 and 1993                            19

    Consolidated Statements of Financial Position -
         December 31, 1995 and 1994                                  20

    Consolidated Statements of Stockholders' Equity -
         Years Ended December 31, 1995, 1994 and 1993                21

    Consolidated Statements of Cash Flows - Years Ended
         December 31, 1995, 1994 and 1993                            22

    Notes to Consolidated Financial Statements -
         December 31, 1995, 1994 and 1993                          23-24

    Independent Auditors' Report as of December 31, 1995 
         and 1994 and for each of the years in the
         three-year period ended December 31, 1995                   34

                               -16-
<PAGE>

    2.   Financial Statement Schedule
         ----------------------------
    The following financial statement schedule of A. P. Green and the
accompanying Independent Auditors' Report are set forth on the following pages
of this Annual Report on Form 10-K:

                                                               Form 10-K       
                                                            Page Reference
                                                            --------------
    Independent Auditors' Report on the consolidated financial
      statement schedule for each of the years in the three-year
      period ended December 31, 1995.                              F-1

    Schedule II     Valuation and Qualifying Accounts              F-2

    Some schedules have been omitted because they are not applicable, are not
required or the information is included in the consolidated financial
statements or notes thereto.   

    3.   Exhibits
         --------
    Exhibit No.
    -----------
    3(a)      Restated Certificate of Incorporation of A. P. Green is
              incorporated herein by reference to Exhibit 3(a) of A. P.
              Green's Annual Report on Form 10-K for the year ended December
              31, 1987.

    3(b)      By-Laws of A. P. Green, as amended on November 16, 1995.

    4(a)      Specimen Common Stock Certificate of A. P. Green is
              incorporated herein by reference to Exhibit 4.1 of the
              Registration Statement on Form 10, dated February 3, 1988.

    4(b)      Rights Agreement, dated as of December 22, 1987, between
              A. P. Green and Harris Trust and Savings Bank, as Rights Agent,
              is incorporated herein by reference to Exhibit 4.2 of the
              Registration Statement on Form 10, dated February 3, 1988.

    4(c)      Note Purchase Agreement, dated July 28, 1994, by and between 
              A. P. Green and  certain of its subsidiaries and the purchasers 
              of the unsecured notes, is incorporated herein by reference to
              Exhibit 10.1 of A. P. Green's Current Report on Form 8-K dated
              August 12, 1994.

    10(a)     A. P. Green Refractories Co. Supplemental Retirement Plan
              is incorporated herein by reference to Exhibit 10.10 of the
              Registration Statement on Form 10, dated February 3, 1988.

    10(b)     1987 Long-Term Performance Plan of A. P. Green is
              incorporated herein by reference to Exhibit 10(l) of 
              A. P. Green's Annual Report on Form 10-K for the year ended
              December 31, 1987.

                               -17-
<PAGE>

    10(c)     1989 Long-Term Performance Plan of A. P. Green is
              incorporated herein by reference to Exhibit 10(m) of 
              A. P. Green's Annual Report on Form 10-K for the year ended
              December 31, 1988.

    10(d)     Form of A. P. Green Management Incentive Compensation Plan.

    10(e)     Form of Indemnification Agreement between A. P. Green and
              each of its Directors and Officers is incorporated herein
              by reference to Exhibit 10(m) of A. P. Green's Annual
              Report on Form 10-K for the year ended December 31, 1987.

    10(f)     Termination Compensation Agreement, dated March 1, 1988,
              between A. P. Green and Paul F. Hummer II, is incorporated
              herein by reference to Exhibit 10(o) of A. P. Green's
              Annual Report on Form 10-K for the year ended December 31,
              1987.

    10(g)     Termination Compensation Agreement, dated November 16,
              1988, between A. P. Green and Michael B. Cooney, is
              incorporated herein by reference to Exhibit 10(r) of 
              A. P. Green's Annual Report on Form 10-K for the year ended
              December 31, 1988.

    10(h)     Form of Addendum No. 1 of Termination Compensation
              Agreement, dated October 19, 1989, by and between 
              A. P. Green and Paul F. Hummer II or Michael B. Cooney, is
              incorporated herein by reference to Exhibit 10(w) of
              A. P. Green's Annual Report on Form 10-K for the year ended
              December 31, 1989.

    10(i)     Form of  Termination  Compensation  Agreement,  dated 
              October  19,  1989, between A. P. Green and Gary L. Roberts
              or Max C. Aiken, is incorporated herein by reference to
              Exhibit 10(x) of A. P. Green's Annual Report on Form 10-K
              for the year ended December 31, 1989.

    10(j)     1993 Performance Plan of A. P. Green is incorporated herein
              by reference to Exhibit 10(j) of A. P. Green's Annual
              Report on Form 10-K for the year ended December 31, 1993.

    10(k)     Asset Acquisition Agreement, dated July 11, 1994, by and
              among General Refractories Company and certain of its
              affiliates and A. P. Green and certain of its affiliates,
              is incorporated herein by reference to Exhibit 2.1 of 
              A. P. Green's Current Report on Form 8-K dated August 12, 1994.

    10(l)     Retirement Plan for Directors, dated February 16, 1995, is
              incorporated herein by reference to Exhibit 10(l) of 
              A. P. Green's Annual Report on Form 10-K for the year ended
              December 31, 1994. 

    10(m)     A. P. Green Industries, Inc. Supplemental Retirement Income
              Plan, executed October 12, 1994, effective January 1, 1995,
              is incorporated herein by reference to  Exhibit 10(m) of 
              A. P. Green's Annual Report on Form 10-K for the year ended
              December 31, 1994.
         
    13        A. P. Green's 1995 Annual Report to Stockholders.

                               -18-
<PAGE>

    21        Subsidiaries of A. P. Green 

    23        Consent of KPMG Peat Marwick LLP

    27        Financial Data Schedule as of December 31, 1995.

(b) Reports on Form 8-K.  None.

(c) See Item 14(a) above.

(d) See Item 14(a)(2) above.

                               -19-
<PAGE>      

                            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.

                                            A. P. GREEN INDUSTRIES, INC.     
                                                       Registrant


Dated:  March 4, 1996                    By:   /s/ Michael B. Cooney       
                                         --------------------------------
                                    
                                     Michael B. Cooney, Senior Vice
                                     President, Law/Administration and
                                     Secretary

    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 and in the capacities and on the dates indicated.

Signature                              Title               Date
---------                              -----               ----

 /s/ Paul F. Hummer II      Chairman of the Board,     March 4, 1996
Paul F. Hummer II           President, Chief Executive 
                            Officer and Director
                            (Principal Executive Officer)

                            Vice President, Chief
 /s/ Gary L. Roberts        Financial                  March 4, 1996
Gary L. Roberts             Officer and Treasurer
                            (Principal Financial and
                            Accounting Officer)

 /s/ Donald E. Lasater      Director                   March 13, 1996
Donald E. Lasater


 /s/ P. J. O'Bryan          Director                   March 18, 1996
P. J. O'Bryan


 /s/ Daniel R. Toll         Director                   March 13, 1996
Daniel R. Toll


 /s/ William F. Morrison    Director                   March 25, 1996
William F. Morrison

                               -20-
<PAGE>

                   INDEPENDENT AUDITORS' REPORT



The Board of Directors and Stockholders
A. P. Green Industries, Inc.:




Under date of February 9, 1996, we reported on the consolidated statements of
financial position of A. P. Green Industries, Inc. and subsidiaries as of
December 31, 1995 and 1994, and the related consolidated statements of
earnings, stockholders' equity, and cash flows for each of the years in the
three-year period ended December 31, 1995, as contained in the 1995 annual
report to stockholders.  These consolidated financial statements and our
report thereon are incorporated by reference in the annual report on Form
10-K for the year 1995.  In connection with our audits of the aforementioned
consolidated financial statements, we also audited the related consolidated
financial statement schedule as listed in the accompanying index.  This
financial statement schedule is the responsibility of the Company's
management.  Our responsibility is to express an opinion on this financial
statement schedule based on our audits.

In our opinion, such financial statement schedule, when considered in relation
to the basic consolidated financial statements taken as a whole, presents
fairly, in all material respects, the information set forth therein.  As
discussed in note 5 of notes to consolidated financial statements, the Company
changed its method of accounting for postemployment benefits in 1994.


/s/ KPMG PEAT MARWICK LLP



St. Louis, Missouri                        
February 9, 1996













                               F-1
<PAGE>

                           SCHEDULE II




                   A. P. GREEN INDUSTRIES, INC.
                     SUPPLEMENTAL INFORMATION
                VALUATION AND QUALIFYING ACCOUNTS



An analysis of doubtful accounts for 1993, 1994 and 1995 is as follows:


                                                         Doubtful
                                                         Accounts
                                                         --------
                                                 (Dollars In Thousands)
 
 
Balance, December 31, 1992                                $1,309 
Additions in 1993 -
  Current Year Provision                                     143 
Less - Receivables written off, net                         (254)
                                                          ------

Balance, December 31, 1993                                 1,198 
Additions in 1994 -
  Current Year Provision                                     373 
  Acquisition of General Refractories                      1,088 
Less - Receivables written off, net                         (667)
                                                          ------

Balance December 31, 1994                                  1,992 
Additions in 1995-
  Current year provision                                     120       
  Acquisitions                                               247      
Less - Receivables written off, net                         (429)          
                                                          ------

Balance, December 31, 1995                                $1,930 
                                                          ======








                               F-2
<PAGE>