EXHIBIT 23.1

                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

To Coltec Industries Inc:

    As   independent  public   accountants,  we   hereby  consent   to  (1)  the
incorporation by reference in this  registration statement of our reports  dated
January  24, 1994 included and incorporated  by reference into Coltec Industries
Inc's Form 10-K for  the year ended December  31, 1993, and (2)  the use of  our
report  and to all  references to our  Firm included in  or made a  part of this
registration statement.

Arthur Andersen & Co.
New York, N.Y.
April 26, 1994