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: September 30, 1997


                         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 October  31,  1997 was
8,926,430.





                                                         1

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                                  MESTEK, INC.

                          QUARTERLY REPORT ON FORM 10-Q
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1997


                                      INDEX

                                                             Page No.
PART I - FINANCIAL INFORMATION
          
Condensed consolidated balance sheets at September 30, 1997 
and December 31, 1996                                        Pages 3-4

Condensed consolidated statements of income for the 
three months ended September 30, 1997 and 1996 and the nine


months ended September 30, 1997 and 1996                     Page 5
                                                           
Condensed consolidated statements of cash flows 
for the nine months ended September 30, 1997 and 1996        Page 6


                                  
Condensed consolidated statement of changes in shareholders'
equity for the period from January 1, 1996 through           Page 7
September 30, 1997

Notes to the condensed consolidated financial statements     Pages 8-10

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                    

         Statement of Computation of Per share Earnings      Page 11


SIGNATURE                                                    Page 11  
   













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                         PART I - FINANCIAL INFORMATION


Item 1 - Financial Statements


                                   MESTEK,INC.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


                                                Sept. 30,               Dec. 31,
                                                  1997                  1996
                                                  ----                    ----
                                                   (Dollars in thousands)


ASSETS
Current Assets
     Cash and Cash Equivalents                  $2,301                  $11,649
     Accounts Receivable - less allowances of
     $2,463 and $1,701 respectively             58,422                   49,577
     Unbilled Accounts Receivable                  272                      174
     Inventories                                49,929                   43,265
     Other Current Assets                        4,701                    4,087
                                              -----------            -----------
              Total Current Assets             115,625                  108,752

Property and Equipment (Net)                    40,124                   31,439
Equity Investments                               8,778                    8,778
Other Assets and Deferred Charges - Net          6,715                    7,066
Excess of Cost over Net Assets of Acquired
   Companies                                    20,313                   13,975
                                             ----------                --------

              Total Assets                    $191,555                 $170,010
                                             ==========                ========







See the Notes to Condensed Consolidated Financial Statements.


                                                     Continued on next page







                                                  
                   
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                                  MESTEK, INC.
               CONDENSED CONSOLIDATED BALANCE SHEETS (continued)

                                   (Unaudited)



                                                        Sept. 30,       Dec. 31,
                                                           1997           1996
                                                           ----            ----
                                                          (Dollars in thousands)
LIABILITIES, AND SHAREHOLDERS' EQUITY
Current Liabilities
     Current Portion of Long-Term Debt                 $   26,900       $   115
     Accounts Payable                                      20,005        19,559
     Accrued Compensation                                   4,467         4,886
     Accrued Commissions                                    2,511         3,404
     Progress Billings in Excess of Cost and
         Estimated Earnings                                 3,127         2,899
     Customer Deposits                                      3,218         4,829
     Other Accrued Liabilities                             15,653        13,786
                                                        ----------       -------
         Total Current Liabilities                         75,881        49,478

Long-Term Debt                                                772        15,247
Deferred Compensation                                          14            18
                                                        ----------        ------
         Total Liabilities                                 76,667        64,743
                                                         ---------        ------

Minority Interests                                          1,944         1,549
                                                          --------       -------

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                                    104,129        94,794
     Treasury Shares, at cost, (683,271 and
         680,364 common shares, respectively)            ( 6,098)     (  6,040)
     Cumulative Translation Adjustment                   ( 1,000)     (    949)
                                                        -----------    ---------
         Total Shareholders' Equity                       112,944       103,718
                                                         ---------     ---------

         Total Liabilities, and Shareholders'  Equity    $191,555      $170,010
                                                         ========      =========






See the Notes to Condensed Consolidated Financial Statements.











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


                                          Three Months Ended   Nine Months Ended
                                                Sept. 30,           Sept. 30,
                                          1997          1996   1997         1996
                                        (In thousands, except per share amounts)

Net Sales                                82,977     $ 75,432  225,166 $ 201,525
Net Service Revenues                      4,350        3,635   12,245    12,050
                                        --------    --------  -------   --------
         Total Revenues                  87,327       79,067  237,411   213,575

Cost of Goods Sold                       59,929       55,615  164,774   148,127
Cost of Service Revenues                  2,418        2,179    7,214     6,275
                                       --------     ---------  -------  --------
         Gross Profit                    24,980       21,273   65,423    59,173

Selling Expense                          10,923        8,886   29,596    25,071
General and Administrative
     Expense                              5,055        4,366   13,284    12,249
Engineering Expense                       2,039        1,932    5,808     5,369
                                       --------     --------- --------  --------
         Operating Profit                 6,963        6,089   16,735    16,484

Interest Expense                      (     469)    (    321) ( 1,066)  (   998)
Gain on Sale of Investment                  -            -        -       1,444
Other Income (Expense) - net          (      24)    (    340) (   349)  ( 1,665)
                                      ---------     --------- --------   -------

Income Before Income Taxes                6,470        5,428   15,320    15,265

Income Taxes                              2,629        2,200    5,985     6,154
                                      ---------     --------- --------  --------

Net Income                            $   3,841      $ 3,228  $ 9,335   $ 9,111
                                      =========      ========  =======   =======

Earnings per Common Share             $     .43      $   .36  $  1.04   $  1.02
                                      =========      ========  =======   =======

Weighted Average Shares
     Outstanding                          8,928        8,930    8,929     8,941
                                      =========      ========  =======  ========








See the Notes to Condensed Consolidated Financial Statements.














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

                                                               9 Months Ended
                                                                September 30,
                                                             1997           1996
                                                             ----           ----
                                                          (Dollars in thousands)
Cash Flows from Operating Activities:
     Net Income                                            $ 9,335     $  9,111
     Adjustments to Reconcile Net Income to Net
         Cash Provided by (Used In) Operating
         Activities:
     Depreciation and Amortization                           5,526        4,249
     Provision for Losses on Accounts Receivable               762          598
     Cash Flows Provided (Used) by Changes In:
         Assets and Liabilities                            (19,954)       4,117
         Purchase Price Payable - National Northeast           -        ( 9,960)
                                                         ----------    ---------
     Net Cash Provided by (Used in) Operating Activities   ( 4,331)       8,115
                                                         ----------    ---------

Cash Flows from Investing Activities:
Capital Expenditures                                       (10,276)     ( 4,662)
Disposition of Property                                        -          3,193
Aquisition of Businesses (net of cash acquired)            ( 5,141)     (14,149)
                                                          ---------     --------
Net Cash (Used in) Investing Activities                    (15,417)     (15,618)
                                                           --------     --------

Cash Flows from Financing Activities:
     Net Borrowings Under Line of Credit
         Agreements                                         11,734      ( 1,560)
     Proceeds from issuance of Long Term Debt                  -         15,000
     Principal Payments Under Long Term Debt
         Obligations                                       ( 1,125)     ( 1,637)
     Repurchase of Common Stock                            (    58)     (   591)
     Net Change in
         Minority Interests                                (    100)    (   516)
         Cumulative Translation Adjustments                (     51)    (    50)
                                                          ----------  ----------

Net Cash Provided by Financing
     Activities                                              10,400      10,646
                                                            -------      -------

Net Increase (Decrease) in Cash and Cash
     Equivalents                                            ( 9,348)      3,143
Cash and Cash Equivalents - Beginning of
     Period                                                  11,649       1,405
                                                            -------      -------
Cash and Cash Equivalents - End of Period                  $  2,301     $ 4,548
                                                           =========    ========



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, 1996  through September 30, 1997



                                        Addt'l                     Cumul.
                               Common   Pd In  Retained  Treasury  Trans.
                               Stock   Capital Earnings   Shares   Adj.   Total

Bal-Jan 1, 1996               $ 479    $15,434  $ 81,465 (5,449) ( 883) $ 91,046
Net Income                                        13,329                  13,329
Common Stock Repurchased                                 (  591)          ( 591)
Cumulative Translation Adj                                        (  66)  (  66)
                             -------    -------  -------- ------  ------ ------
Bal - December 31, 1996       $ 479    $15,434  $ 94,794 (6,040) ( 949)  103,718

Net Income                                         9,335                   9,335
 Common Stock Repurchased                                (   58)          (  58)
Cumulative Translation Adj                                        (  51)  (  51)
                            --------   -------- -------- ------- ------- ------

Bal - September 30, 1997     $ 479     $15,434  $104,129 (6,098) (1,000)$112,944
                            =======   ======== ========  ======= ====== ========











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 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, consisting of a normal recurring 
nature, 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 $2,629,000 and $2,200,000  were
recorded for the three months ended September 30, 1997 and 1996, 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 will be amortized over 25
years. The acquisitions of Rowe Machinery and Automation,  Inc., and Omega Flex,
Inc.  in 1996,  as more fully  described  in Note 2,  resulted  in  goodwill  of
$7,729,000  which  will be  amortized  over 25 years.  The  acquisition  of Hill
Engineering,  Inc.  on January  31,  1997, resulted in goodwill of $2,892,000  
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 November 3, 1997 the Company acquired 100% of the issued and outstanding
common stock of CoilMate, Inc. (CoilMate) of Southington, Connecticut.  CoilMate
is the leading producer of pallet decoiling equipment for the metal stamping and
roll forming industries.  The purchase price paid was approximately $3,500,000.










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Note 3 - Property and Equipment

                                                         Sept. 30,      Dec. 31,
                                                            1997         1996
                                                            ----          ----

Land                                                      2,045,00    1,092,000
Buildings                                               18,445,000   13,657,000
Leasehold Improvements                                   4,431,000    4,186,000
Equipment                                               58,482,000   51,183,000
                                                       ------------  ----------

                                                        83,403,000   70,118,000
Accumulated Depreciation                               (43,279,000) (38,679,000)
                                                       ------------ -----------
                                                       $40,124,000  $31,439.000
                                                       ============ ===========

Note 4 - Long-Term Debt

                                                          Sept. 30,     Dec. 31,
                                                            1997         1996
                                                            ----          ----

Senior Notes                                           $15,000,000  $15,000,000
Revolving Loan Agreement                                10,733,000        -
Note Payable - Bank                                      1,000,000        -
Other Bonds and Notes Payable                              939,000      362,000
                                                       -----------   ----------
                                                        27,672,000   15,362,000
Less Current Maturities                                (26,900,000) (   115,000)
                                                        ----------   ----------
                                                       $   772,000  $15,247,000
                                                        ==========   ==========


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 mature March 1,
1998 and bear interest at 5.53%. The Note Purchase  Agreement  contains a number
of financial  covenants  which limit the Company's  overall debt, its dividends,
and  in  certain  circumstances,  its  ability  to  effect  acquisitions  and/or
divestitures.  The Company's  management does not believe that these limitations
will materially affect the Company's future operations or strategic plans.

Revolving Loan Agreement - The Company's  Revolving Loan Agreement and Letter of
Credit Facility with a commercial bank was revised and extended recently through
April 30, 1998. The revised agreement (The Agreement),  provides for $50 million
of unsecured revolving credit, including $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,  a
Eurodollar-based  rate plus a quoted market factor.  In addition,  the Agreement
provides  a  $5,000,000  (Canadian)  unsecured  line  of  credit  facility.  The
Agreement contains  financial  covenants which require that the Company maintain
certain current  ratios,  working  capital  amounts,  capital bases and leverage
ratios.  The  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.

Note Payable Bank - The Company has a $10,000,000  unsecured line of credit with
a second  commercial bank which expires on June 30, 1998.  Borrowings  under the
line,  which totaled  $1,000,000 at September 30, 1997,  accrue  interest on the
basis of LIBOR plus a quoted market factor.

     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.










                                                         9

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Note 5 - Earnings Per Common Share

     Earnings  per share were  computed  using the  weighted  average  number of
common shares outstanding.

Note 6 - Shareholder's Equity

     Due to  redemptions  of the stock  interests  of certain  employees  of the
Company's National  Northeast  Subsidiary the Company now owns approximately 88%
of the  issued  and  outstanding  voting  common  stock  of  National  Northeast
Corporation,  a Delaware corporation,  successor by merger to National Northeast
Corporation and National Southeast Corporation.

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

     Total  revenues in the Company's  HVAC segment  during the third quarter of
1997 were up 4.5% relative to the third quarter of 1996.  Significantly improved
sales  in  certain  residential  and  commercial  hydronic  products  as well as
gas-fired products,  were offset somewhat by reduced sales of certain industrial
and air conditioning  products. The relocation of the Company's Koldwave product
line from Skokie,  Illinois to Dundalk,  Maryland,  which was completed in 1997,
contributed  to this  situation.  Gross  profit  margins  for the  HVAC  segment
increased slightly from 26.7% to 27.7%. Operating income for this segment was up
from  $4,352,000 in the third quarter of 1996 to $4,483,000 in the third quarter
of 1997.  (Gross Profit and Operating Income for 1996 for this segment have been
adjusted to reflect certain reclassifications for purposes of comparability).

     Total   Revenues  in  the  Company's   Metal   Products   segment  were  up
significantly  during the third quarter of 1997 ($20,543,000 versus $14,758,000)
reflecting the added effect of Dahlstrom  Industries,  Inc.,  acquired on August
30, 1996, and Hill Engineering, Inc., acquired on January 31, 1997. Gross profit
margins  increased  from 24.6% to 28.0%,  and operating  income  increased  from
$1,138,000  to  $1,595,000  due  in  part  to  the  effect  of  certain  product
development costs incurred by Omega Flex, Inc., (Omega) and other transitional
costs incurred by Rowe during the quarter ended September 30, 1996. Omega,  
acquired in February 1996, is a manufacturer  of flexible metal hose. In
January of 1997 Omega  introduced  Trac-Pipe(TM),  a corrugated  stainless steel
tubing product  developed  especially for use in the piping and  installation of
gas appliances.  The  unexpectedly  rapid  acceptance of this product has led to
greater market development, product development and manufacturing overhead costs
than were originally envisioned. The closing of the Rowe Machinery manufacturing
plant in Dallas,  Texas and the move of its products to the  Company's  Clinton,
Maine facility was completed in the quarter ended June 30, 1997.

     The Company's computer systems segment reported increased  Revenues,  Gross
Profit margins and Operating  income figures in the quarter ended  September 30,
1997 relative to the quarter ended September 30, 1996.

     For the  Company  as a whole,  Selling,  General  and  Administrative,  and
Engineering costs,  taken together as a percentage of Total Revenues,  increased
from 19.2% to 20.6%  owing  principally  to  increased  sales  expenses.  (Sales
Expense  and  General and  Administrative  Expense for 1996,  as reported in the
accompanying  financial  statements,  have  been  adjusted  to  reflect  certain
reclassifications for purposes of comparability).

     Operating  income for the third quarter of 1997 for the Company as a whole,
increased by $874,000 or 14.3% relative to the third quarter of 1996  reflecting
the various effects mentioned above.

     The Company's  total debt (long-term debt plus current portion of long-term
debt)  decreased  slightly during the quarter ended September 30, 1997 despite a
seasonal  growth in  receivables  as well as additional  investments  in capital
equipment due to strong  positive cash flows from earnings.  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.






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                                            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.






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


                              Three Months Ended               Nine Months Ended
                                  September 30,                  September 30,
                                  -------------                    ------------
                                 1997        1996              1997         1996
                                 ----        ----              ----         ----
                                           (Amounts in thousands, except
                                            earnings per common shares)


Net income for earnings
     per share                  $ 3,841     $ 3,228         $ 9,335      $ 9,111
                                =======     =======         =======      =======

Total Common shares and
     common share
     equivalents                  8,928       8,930           8,929        8,941
                                =======     =======         =======      =======

Earnings per common
     share                      $   .43     $   .36         $  1.04       $ 1.02
                                =======     =======         =======      =======



                                    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: November 3, 1997

                                               /S/ Stephen M. Shea
                                               Stephen M. Shea
                                               Senior Vice President - Finance
                                               (Chief Financial Officer)        
                                                       
                                       11

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