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                                                                       FORM 10-K

                                                                     EXHIBIT 21.

                         SUBSIDIARIES OF THE REGISTRANT



                                                                                        State or Other
                                                                                        Jurisdiction of
                                                                                        Incorporation
         Name of Subsidiary                                                             or Organization
         ------------------                                                             ---------------

                                                                                                       
         The Elco Corporation                                                           Ohio                 (1)

         ELDISC Export Co. (100% owned by The Elco Corporation)                         Delaware             (1)

         Harvel Plastics, Inc. (85% owned by The Elco Corporation)                      Pennsylvania         (1)

         S.O. Realty, Inc. (formerly Seibert-Oxidermo, Inc.)                            Michigan             (1)




(1)      Financial statements of subsidiary companies are included in the
         Consolidated financial statements.