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): NOVEMBER 12, 2004

                           ALLIS-CHALMERS CORPORATION
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

              DELAWARE                                        1-2199
(STATE OR OTHER JURISDICTION                         (COMMISSION FILE NUMBER)
      OF INCORPORATION)

                                   39-0126090
                                (I.R.S. EMPLOYER
                               IDENTIFICATION NO.)

                           5075 WESTHEIMER, SUITE 890
                              HOUSTON, TEXAS 77056
               (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)

         REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE: 713-369-0550


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (SEE General Instruction A.2. below):

[ ]  Written Communications pursuant to Rule 425 under the Securities Act (17 
     CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the exchange ct (17 CFR
     240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the 
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the 
     Exchange Act (17 CFR 240.13e-4(c))



ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

         On November 12, 2004, the Registrant issued a press release relating to
its earnings in the first nine months of 2004, a copy of which is attached as an
exhibit hereto.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

   (a) Exhibits.

         99.1     Press Release of Company dated November 12, 2004



SIGNATURES


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 hereunto duly authorized.



                                         ALLIS-CHALMERS CORPORATION

                                         By: /s/ Munawar H. Hidayatallah
                                             ----------------------------
                                             Munawar H. Hidayatallah
                                             Chief Executive
                                             Officer and Chairman

Date: November 16, 2004



EXHIBIT INDEX

Exhibit            Description


         99.1     Press Release Dated November 12, 2004