SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                    FORM 8-K

                Current Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934


         Date of Report (Date of earliest event reported): June 30, 1997




                                   AMTROL Inc.
             (Exact name of registrant as specified in its charter)



       Rhode Island                   0-20328                     05-0246955
(State or other jurisdiction    (Commission File              (I.R.S. Employer
         of incorporation)                Number)            Identification No.)


1400 Division Road, West Warwick, Rhode Island                          02893
   (Address of principal executive offices)                          (Zip Code)



                                 (401) 884-6300
              (Registrant's telephone number, including area code)







Item 2.  Acquisition or Disposition of Assets.

     (a) On June 30,  1997,  AMTROL Inc.  ("Amtrol")  entered  into a Promissory
Agreement   and  a   Complementary   Document   to  the   Promissory   Agreement
(collectively,  the "Purchase Agreements") with an individual resident of Porto,
Portugal ("Seller").  Under the Purchase  Agreements,  Amtrol agreed to purchase
from Seller not later than the  "Completion  Date" (as defined in the Promissory
Agreement) all of the outstanding  capital shares of Petroleo Mecanica Alfa, SA,
a  corporation  organized  under the laws of Portugal  ("Alfa") for an aggregate
purchase price of $25,500,000 (in United Stated dollars) and to assume immediate
management control of Alfa (the "Acquisition").  As of the Completion Date, Alfa
will become an indirect wholly-owned subsidiary of Amtrol.

     Alfa is a leading designer and manufacturer of reusable steel gas cylinders
used for heating and refrigerant  gasses and maintains a production  facility in
Guimaraes, Portugal. Following the Acquisition,  Amtrol will integrate Alfa into
its existing business of manufacturing and distributing water and HVAC systems.

     The  Acquisition  is subject to the  approval  of  required  filings  under
Portugese  laws  governing  concentration  of industries  and free  competition.
Subject  to this  approval,  it is  anticipated  that  the  Acquisition  will be
consummated in December 1997.

     The  source  of  funds  for  the  Acquisition  is  from  borrowings  out of
availability under Amtrol's existing credit facility.

Item 7.  Financial Statements and Exhibits

     (a) Not Applicable

     (b) Not Applicable

     (c) Exhibits:

          Exhibit 2 - Promissory  Agreement  dated as of June 30, 1997,  between
          AMTROL  Inc.   and  Seller,   together   with   annexes   thereto  and
          Complementary  Document to the Promissory  Agreement  dated as of June
          30, 1997, between AMTROL Inc. and Seller.





                                   SIGNATURES

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

                                                                    AMTROL Inc.
                                                                 (Registrant)



Date:  July 15, 1997                         By: /s/ Edward J. Cooney
                                                     Edward J. Cooney
                                                     Chief Financial Officer