SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 10-Q


                  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                      For the quarter ended: June 30, 1998


                         Commission file number: 1- 448


                                   MESTEK,INC.


                            Pennsylvania Corporation


                       I.R.S. Employer Identification No.
                                  25 - 0661650


                              260 North Elm Street
                         Westfield, Massachusetts 01085


                            Telephone: (413) 568-9571


The Registrant 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 and has
been subject to such filing requirements for the past 90 days.



The  number  of  shares  of Common  Stock  outstanding  as of July 28,  1998 was
8,919,905.





                                        1

<PAGE>








                                  MESTEK, INC.

                          QUARTERLY REPORT ON FORM 10-Q
                    FOR THE THREE MONTHS ENDED JUNE 30, 1998


                                      INDEX

                                                                    Page No.
PART I - FINANCIAL INFORMATION

         Condensed consolidated balance sheets at June 30, 1998
and December 31, 1997                                               Pages 3-4

         Condensed consolidated  statements of income for the three months ended
June 30, 1998 and 1997 and the six months ended June 30, 1998 and 1997 Page 5

         Condensed consolidated statements of cash flows for the six
months ended June 30, 1998 and 1997                                 Page 6

         Condensed consolidated statement of changes in shareholders' equity for
the period from January 1, 1997 through June 30, 1998 Page 7

         Notes to the condensed consolidated financial statements   Pages 8-9

         Management's Discussion and Analysis of Financial Condition
and Results of Operations                                           Page 10

PART II - OTHER INFORMATION                                         Page 11

         Item 6 - Exhibits and Reports on Form 8-K

         Item 7 - Submission of Matters to a Vote of Security Holders

         Statement of Computation of Per share Earnings             Page 11


SIGNATURE                                                           Page 12



         In the opinion of management, the information contained herein reflects
all  adjustments  necessary  to make the results of  operations  for the interim
periods a fair  statement  of such  operations.  All such  adjustments  are of a
normal recurring nature.



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<PAGE>






                         PART I - FINANCIAL INFORMATION


Item 1 - Financial Statements


                                   MESTEK,INC.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


                                                   June 30,             Dec. 31,
                                                     1998                1997
                                                     ----                ----
                                                       (Dollars in thousands)


ASSETS
Current Assets
     Cash and Cash Equivalents                        $3,286             $2,494
     Accounts Receivable - less allowances of
     $2,831 and $2,529 respectively                   48,882             52,696
     Unbilled Accounts Receivable                        231                248
     Inventories                                      59,656             51,580
     Other Current Assets                              5,859              5,273
                                                     -------            -------
              Total Current Assets                   117,914            112,291

Property and Equipment (Net)                          42,810             40,715
Equity Investments                                     8,778              8,778
Other Assets and Deferred Charges - Net                5,740              5,516
Excess of Cost over Net Assets of Acquired Companies  25,239             23,817
                                                    --------           --------
              Total Assets                          $200,481           $191,117
                                                    ========           ========







See the Notes to Condensed Consolidated Financial Statements.


                                                        Continued on next page






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<PAGE>



                                  MESTEK, INC.
                CONDENSED CONSOLIDATED BALANCE SHEETS (continued)
                                   (Unaudited)



                                                           June 30,     Dec. 31,
                                                            1998           1997
                                                            ----           ----
                                                         (Dollars in thousands)
LIABILITIES, AND SHAREHOLDERS' EQUITY
Current Liabilities
     Current Portion of Long-Term Debt                   $26,868        $18,667
     Accounts Payable                                     17,423         20,276
     Accrued Compensation                                  3,495          6,100
     Accrued Commissions                                   2,244          3,283
     Progress Billings in Excess of Cost and
         Estimated Earnings                                2,796          3,205
     Customer Deposits                                     3,164          3,570
     Other Accrued Liabilities                            17,449         15,134
                                                          -------      ---------
         Total Current Liabilities                        73,439         70,235

Long-Term Debt                                               619            662
Other Liabilities                                            245            238
                                                          -------     ----------
         Total Liabilities                                74,303         71,135
                                                          -------     ----------

Minority Interests                                         2,116          1,975
                                                         --------     ---------

Shareholders' Equity
     Common Stock - no par, stated value $0.05
         per share, 9,610,135 shares                         479            479
     Paid in Capital                                      15,434         15,434
     Retained Earnings                                   115,401        109,199
     Treasury Shares, at cost, ( 690,230 common shares)(   6,230)     (   6,109)
     Cumulative Translation Adjustment                 (   1,022)     (     996)
                                                        ---------      ---------
         Total Shareholders' Equity                      124,062        118,007
                                                        ---------     ----------

         Total Liabilities, and Shareholders'  Equity   $200,481       $191,117
                                                        =========     =========





See the Notes to Condensed Consolidated Financial Statements.











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                                  MESTEK, INC.
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)


                                     Three Months Ended       Six Months Ended
                                          June 30,                 June 30,
                                     1998          1997       1998         1997
                                       (In thousands, except per share amounts)

Net Sales                           $73,780    $70,954    $145,414    $142,189
Net Service Revenues                  3,908      3,914       7,923       7,895
                                    --------   -------     --------    --------
         Total Revenues              77,688     74,868     153,337     150,084

Cost of Goods Sold                   53,585     52,509     105,473     104,845
Cost of Service Revenues              2,496      2,343       5,085       4,796
                                    --------   --------    --------     ------
         Gross Profit                21,607     20,016      42,779      40,443

Selling Expense                      10,386      9,749      20,139      18,673
General and Administrative
     Expense                          4,077      4,211       7,784       8,229
Engineering Expense                   2,197      1,885       4,185       3,769
                                   --------     -------     ------     --------
         Operating Profit             4,947      4,171       10,671      9,772

Interest Expense                   (   287)    (   387)    (   446)     ( 597)

Other Income (Expense) - net       (   162)    (   166)    (   289)     ( 325)
                                    --------    -------     -------       -----

Income Before Income Taxes            4,498      3,618       9,936       8,850

Income Taxes                          1,666      1,377       3,734       3,356
                                   --------     -------     ------     --------

Net Income                          $ 2,832     $2,241     $ 6,202     $5,494
                                    =======     ======     =======     =======

Basic Earnings per Common Share     $  .32      $ .25      $  .69      $  .61
                                    =======     ======     =======     =======

Basic Weighted Average Shares
     Outstanding                     8,925       8,930      8,926       8,930
                                    =======     ======     =======     ========

Diluted Earnings per Common Share      .32         .25        .69         .61
                                    =======     =======    =======     ========
Diluted Weighted
Average Share Outstanding            8,956       8,951      8,953       8,949
                                    =======    =======     =======     =======



See the Notes to Condensed Consolidated Financial Statements.

Note: Year to date June 30, 1998 earnings per share figures do not equal the
sum of the individual quarters due to rounding differences.












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<PAGE>




                                  MESTEK, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                               6 Months Ended
                                                                  June 30,
                                                          1998             1997
                                                          ----             ----
                                                          (Dollars in thousands)
Cash Flows from Operating Activities:
     Net Income                                           $6,202         $5,494
     Adjustments to Reconcile Net Income to Net
         Cash Provided by (Used In) Operating
         Activities:
     Depreciation and Amortization                         3,903          3,569
     Provision for Losses on Accounts Receivable             301            402
     Change in Assets & Liabilities:
     Cash Flows Provided (Used) by Changes In:
         Accounts Receivable                               4,044            538
         Unbilled Accounts Receivable                         17        (    84)
         Inventories                                      (6,744)       ( 6,814)
         Other Assets                                     (  991)       ( 4,312)
         Accounts Payable                                 (3,087)           249
         Progress Billings                                (  409)           406
         Other Liabilities                                (2,379)       ( 6,779)
                                                         --------      ---------

     Net Cash Provided by (Used in) Operating Activities     857        ( 7,331)
                                                        ---------       --------

Cash Flows from Investing Activities:
Capital Expenditures                                     ( 5,121)       ( 6,944)
Disposition of Property                                     -                -
Acquisition of Businesses (net of cash acquired)         ( 3,096)      (  5,141)
                                                       ----------      ---------
Net Cash (Used in) Investing Activities                  ( 8,217)      ( 12,085)
                                                       ----------      ---------

Cash Flows from Financing Activities:
     Net Borrowings Under Line of Credit
         Agreement                                         24,898        13,040

     Principal Payments Under Long Term Debt
         Obligations                                     (15,040)       ( 1,106)
     Repurchase of Common Stock                          (   121)            -
     Net Change in
         Minority Interests                                  141        (   165)
         Cumulative Translation Adjustments              (    26)       (    54)
                                                        ----------     ---------

Net Cash Provided by Financing
     Activities                                            8,152         11,715
                                                         --------       --------

Net Increase (Decrease) in Cash and Cash
     Equivalents                                             792        ( 7,701)
Cash and Cash Equivalents - Beginning of
     Period                                                2,494         11,649
                                                         --------      ---------
Cash and Cash Equivalents - End of Period               $  3,286      $   3,948
                                                        ========       =========




See the Notes to Condensed Consolidated Financial Statements.



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<PAGE>







                                  MESTEK, INC.
       CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
                                   (Unaudited)

              For the period January 1, 1997 through June 30, 1998



                                Additional                    Cumulative
                       Common    Paid In   Retained Treasury  Translation
                       Stock     Capital   Earnings  Shares      Adj.     Total

Balance - Jan.1,1997   $ 479     $15,434   $94,794  ($6,040)  ( $949)   $103,718
Net Income                                  14,405                        14,405
Common Stock Repurch.                               (    69)            (    69)
Cum.Translation Adj.                                          (   47)   (    47)
                      ------     ------     ------  -------   -------    -------
Balance-Dec.31,1997   $  479      15,434   109,199  ( 6,109)  (  996)    118,007

Net Income                                   6,202                         6,202
Common Stock Repurch.                               (  121)            (    121)
Cum.Translation Adj.                                          (   26)  (     26)
                     -------     -------    ------- -------   --------   -------

Bal.- June 30,1998   $  479      $15,434  $115,401  (6,230)   ( 1,022)  $124,062
                     ======      =======  ========  =======    =======  ========









See the Notes to the Condensed Consolidated Financial Statements.










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<PAGE>







                                  MESTEK, INC.

            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)



Note 1 - Significant Accounting Policies

Basis of Presentation

     The condensed consolidated financial statements include the accounts of the
company and its  wholly-owned  subsidiaries.  In the opinion of management,  the
financial  statements  include all  material  adjustments  necessary  for a fair
presentation of the Company's financial position, results of operations and cash
flows.  The results of this interim  period are not  necessarily  indicative  of
results for the entire year.

Inventories

     Inventories are valued at the lower of cost or market.  Cost of inventories
is determined principally by the last-in, first-out (LIFO) method.

Income Taxes

     Provisions for income tax in the amounts of $1,666,000 and $1,377,000  were
recorded for the three months ended June 30, 1998 and 1997, respectively.

Goodwill

     The  Company  amortizes  Goodwill  on the  straight  line  basis  over  the
estimated  period to be  benefitted.  The  acquisitions  of  National  Northeast
Corporation,  National Southeast Aluminum Corporation, and Heat Exchangers, Inc.
in 1995 resulted in goodwill of  $11,118,000  which is being  amortized  over 25
years. The acquisitions of Rowe Machinery and Automation,  Inc., and Omega Flex,
Inc. in 1996 resulted in goodwill of $7,729,000 which is being amortized over 25
years. The acquisition of Hill Engineering,  Inc. on January 31, 1997,  resulted
in  goodwill  of  $2,892,000  which  is  being  amortized  over  25  years.  The
acquisition  of RBI,  on April 29,  1998,  as more  fully  described  in Note 2,
resulted in goodwill of $1,781,000  which will be amortized  over 25 years.  The
Company  continually  evaluates the carrying value of goodwill.  Any impairments
would be recognized when the expected  future  operating cash flows derived from
such goodwill is less than their carrying value.

Reclassification

     Reclassifications  are made  periodically  to previously  issued  financial
statements to conform with the current year presentation.

Note 2 - Business Acquisitions

     On April 29, 1998,  the Company,  through a Canadian  subsidiary,  acquired
100% of the outstanding  common stock of Ruscio  Brothers  Refractory Ltd, (RBR)
and 988721 Ontario, Inc. (988721), both of Mississauga Ontario,  Canada. RBR and
988721  manufacture  and  distribute  commercial and  residential  copper-finned
boilers and water  heaters  under the name  Ruscio  Brothers  Industries,  (RBI)
primarily in Canada.  Copper-finned  boilers and water heaters are complimentary
to  the  Company's   other  hydronic   products  and  the  Company   expects  to
substantially  increase the distribution of RBI's products in the United States.
The purchase  price paid for the  acquired  stock was  approximately  $3,096,000
(U.S.) and included Goodwill of approximately $1,781,000 (U.S.).



                                        8

<PAGE>






Note 3 - Property and Equipment
                                                June 30,             Dec. 31,
                                                 1998                  1997
                                                 ----                  ----

Land                                           $ 2,063,000          $ 2,045,000
Buildings                                       18,995,000           18,319,000
Leasehold Improvements                           4,352,000            4,352,000
Equipment                                       65,018,000           60,260,000
                                                ----------           -----------

                                                90,428,000           84,976,000
Accumulated Depreciation                       (47,618,000)         (44,261,000)
                                               ------------         ------------
                                               $42,810,000          $40,715.000
                                               ===========           ===========


Note 4 - Long-Term Debt

                                                June 30,              Dec. 31,
                                                  1998                 1997
                                                 ------                ----

Senior Notes                                       -                $15,000,000
Revolving Loan Agreement                        26,698,000            3,500,000
Other Bonds and Notes Payable                      789,000              829,000
                                                ------------          ----------

                                                27,487,000           19,329,000
Less Current Maturities                         26,868,000           18,667,000
                                                 ----------           ----------

                                               $   619,000          $   662,000
                                                ===========           ==========

Revolving Loan Agreement - The Company has a Revolving Loan Agreement and Letter
of Credit  Facility  (the  Agreement)  with a  commercial  bank.  The  Agreement
provides $50 million of unsecured  revolving credit in U.S. dollars,  $5 million
of unsecured  involving credit in Canadian  dollars,  and $10 million of standby
letter of credit  capacity.  Borrowings  under the Agreement  bear interest at a
floating rate based on the bank's prime rate less 1.75% or, at the discretion of
the  borrower,  LIBOR plus a quoted  market  factor.  The Agreement was recently
renewed on a one year basis extending through April 30, 1999. The Revolving Loan
Agreement contains  financial  covenants which require that the Company maintain
certain current  ratios,  working  capital  amounts,  capital bases and leverage
ratios.  This  Agreement  also contains  restrictions  regarding the creation of
indebtedness,  the  occurrence  of  mergers  or  consolidations  , the  sale  of
subsidiary stock and the payment of dividends in excess of 50% of net income.

Senior  Notes - On  April  5,  1996  the  Company  borrowed  $15,000,000  from a
commercial  insurance  company on an unsecured basis,  executing a Note Purchase
Agreement and the related Senior Notes, (The Notes).  The Notes matured and were
paid off on March 1, 1998. The notes bore interest at 5.53% per annum.

Other - Other bonds and notes payable  include  $670,000 in secured  obligations
assumed in connection with the purchase of Hill Engineering, Inc. on January 31,
1997.

Note 5 - Earnings Per Common Share

     Basic earnings per share were computed using the weighted average number of
common  shares  outstanding.   Common  stock  options  were  considered  in  the
computation of diluted earnings per share.

Note 6 - Shareholders Equity

     The Company  continued its program of selective "open market"  purchases of
its  common  stock in the second  quarter  of 1998.  6,400  common  shares  were
acquired in the three month period ended June 30, 1998, and are accounted for as
treasury stock

                                        9

<PAGE>



Item 2 - Management's Discussion and Analysis of Financial Condition and
Results of Operation

     Total  revenues in the Company's  HVAC segment during the second quarter of
1998 were reduced  relative to the second  quarter of 1997, by $732,000 or 1.4%.
HVAC sales were adversely effected by the relatively mild winter of 1997/1998 as
well as by changes in the Company's  traditional  deferred billing program which
resulted in the postponement of certain shipments, and related billings from the
first and second quarters to the third quarter of 1998. Gross profit margins for
the HVAC segment decreased slightly,  from 26.7% to 25.6%. Margins were effected
by  the  planned  reduction  in  the  Company's  Orangeville,   Ontario,  Canada
manufacturing  operations,  the cost of which  was  reserved  for in the  second
quarter of 1998.  Operating income for this segment was accordingly reduced from
$2,312,000 in the second  quarter of 1997 to $1,556,000 in the second quarter of
1998.

     Total   Revenues  in  the  Company's   Metal   Products   segment  were  up
significantly  during the second quarter of 1998, relative to the second quarter
of 1997, ($23,856,000 versus $20,268,000) principally as a result of substantial
growth  in the  segment's  National  Northeast,  OmegaFlex  and  Formtek  units.
National  Northeast  has  continued  to expand  its  capabilities  as a high end
manufacturer  of thermal  heat sinks.  OmegaFlex's  Trac-Pipe(TM)  flexible  gas
piping  product  has been an  unqualified  success  with  demand for the product
substantially exceeding expectations.  The Company believes that the substantial
capital investments made by OmegaFlex in 1996 and 1997 in Trac-Pipe(TM)  product
development and market development have resulted in superior technology, as well
as "low cost-producer" status, in this emerging HVAC niche. As a result of these
factors, gross profit margins improved  significantly,  from 23.6% to 31.0%, and
operating income increased from $1,224,000 to $2,962,000.

     The Company's  computer systems segment reported slightly reduced revenues,
and gross profit margins and, as a result, slightly reduced operating income.

     For the  Company  as a whole,  Selling,  General  and  Administrative,  and
Engineering  costs,  taken together as a percentage of Total  Revenues,  were up
very slightly from 21.1% to 21.4%.

     Operating income for the second quarter of 1998 for the Company as a whole,
increased  by  $776,000  or  18.6%  reflecting  the net  effect  of the  factors
mentioned above.

     The Company's  total debt (long-term debt plus current portion of long-term
debt) increased by $8,158,000 during the quarter ended June 30, 1998 principally
as a result of seasonal growth in inventories as well as the acquisition of RBI,
as more  fully  described  in  Note 2 to the  Condensed  Consolidated  Financial
Statements.  Management  regards the  Company's  current  capital  structure and
banking  relationships as fully adequate to meet  foreseeable  future needs. The
Company has not paid dividends on its common stock since 1979.




                                       10

<PAGE>





                           PART II - OTHER INFORMATION

Item 6 - Exhibits and Reports on Form 8-K

     (a)  Statement of Computation of Per Share Earnings...Page 11.

     (b)  Registrant  did not file a Form 8-K during the  quarter for which this
          report is filed.

     (c)  Exhibit 10 - RBI Share Purchase Agreement attached.

Item 7 - Submission of Matters to a Vote of Security Holders

     The Company held its Annual  Meeting of  Shareholders  on May 22, 1998. The
following Directors were re-elected to serve until the next Annual Meeting.


                                 A. Warne Boyce
                                 E. Herbert Burk
                                 William J. Coad
                                 Winston R. Hindle, Jr.
                                 David W. Hunter
                                 David M. Kelly
                                 David R. Macdonald
                                 John E. Reed
                                 Stewart B. Reed


     The  shareholders  voted to affirm the appointment of Grant Thornton LLP as
independent  auditors  for the Company for the fiscal year ending  December  31,
1998.


                                  MESTEK, INC.
              SCHEDULE OF COMPUTATION OF EARNINGS PER COMMON SHARE


                                    Three Months Ended        Six Months Ended
                                        June 30,                  June 30,
                                        --------                --------
                                    1998          1997        1998        1997
                                    ----          ----       ----         ----
                                           (Amounts in thousands, except
                                            earnings per common shares)


Net income for earnings per share  $2,832        $ 2,241     $6,202      $5,494
                                   ======        =======     ======      ======

Basic weighted average
     number of common share         8,925         8,930       8,926       8,930
                                  =======        =======      =====      =======

Basic earnings per common share    $ .32         $  .25      $  .69      $  .61
                                 ========       ========     =======     =======

Diluted weighted average number of
     common share outstanding      8,956          8,951       8,953       8,949
                                  ======         ======       ======      ======

Diluted earnings per common share  $ .32         $  .25      $  .69      $  .61
                                  =======        =======     =======     =======

                                       11

<PAGE>




                                    SIGNATURE

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



                                   MESTEK,INC.
                                  (Registrant)

Date: July 28, 1998

                                  /S/ Stephen M. Shea
                                  Stephen M. Shea
                                  Senior Vice President - Finance
                                  (Chief Financial Officer)



                                       12

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