SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                    FORM 11-K


         /X/    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934 
                For the fiscal year ended December 31, 1993

                or
         / /    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934 
                For the transition period from ____________________ 
                to______________________

   Commission File Number:  0-17873

             A.   Full title of the plan and address of the
                  plan, if different from that of the issuer
                  named below:

                          GIDDINGS & LEWIS SAVINGS PLAN

             B.   Name of issuer of the securities held
                  pursuant to the plan and the address of its
                  principal executive office:

                             GIDDINGS & LEWIS, INC.
                                 142 Doty Street
                          Fond du Lac, Wisconsin  54935
   

                              REQUIRED INFORMATION

             The following financial statements and schedules of the Giddings
   & Lewis Savings Plan, prepared in accordance with the financial reporting
   requirements of the Employee Retirement Income Security Act of 1974, as
   amended, are filed herewith.  [Financial statements and schedules
   accompanying the filing made with the Securities and Exchange Commission
   via EDGAR were filed in hard copy under cover of Form SE.]


   

                                   SIGNATURES

             The Plan. Pursuant to the requirements of the Securities
   Exchange Act of 1934, the Giddings & Lewis, Inc. Pension Committee, which
   administers the Plan, has duly caused this Annual Report to be signed on
   its behalf by the undersigned, thereunto duly authorized, in the City of
   Fond du Lac, and State of Wisconsin, on this 28th day of June, 1994.

                                 GIDDINGS & LEWIS SAVINGS PLAN



                                 /s/ Joseph R. Coppola               
                                 Joseph R. Coppola


                                 /s/ Thomas W. Grebe                 
                                 Thomas W. Grebe


                                 /s/ Paul G. Holland                 
                                 Paul G. Holland


                                 /s/ Robert D. Kamphuis              
                                 Robert D. Kamphuis


                                 /s/ Gary L. Kastein                 
                                 Gary L. Kastein


                                 /s/ Robert N. Kelley                
                                 Robert N. Kelley


                                 /s/ Richard C. Kleinfeldt           
                                 Richard C. Kleinfeldt


                                 The foregoing persons are all of the members
                                 of the Giddings & Lewis, Inc. Pension
                                 Committee which is the administrator of the
                                 Giddings & Lewis Savings Plan

   

                                  EXHIBIT INDEX

                          GIDDINGS & LEWIS SAVINGS PLAN

                                    FORM 11-K




   Exhibit No.                                       Exhibit

      (23)                                           Consent of
                                                     Ernst & Young