7


                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.   20549

                                    Form 10-Q


             QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended February 3, 2001


                          Commission File Number 1-5911

                                       SPARTECH CORPORATION
             (Exact name of registrant as specified in its charter)

           DELAWARE                             43-0761773
(State or other jurisdiction of              (I.R.S. Employer
 incorporation or organization)             Identification No.)

              120 S. Central Suite 1700, Clayton, Missouri,  63105
                    (Address of principal executive offices)

                                 (314) 721-4242
              (Registrant's telephone number, including area code)



     Indicate by checkmark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months, and (2) has been subject to such filing
requirements for the past 90 days.

Yes   x   No


     Number of shares outstanding as of February 3, 2001:

     Common Stock, $.75 par value per share            26,608,318



                      SPARTECH CORPORATION AND SUBSIDIARIES

                                      INDEX

                                February 3, 2001



PART I.   FINANCIAL INFORMATION                           PAGE
          CONSOLIDATED CONDENSED BALANCE SHEET -
          as of February 3, 2001 and October 28, 2000       3

          CONSOLIDATED CONDENSED STATEMENT OF
          OPERATIONS - for the quarter ended
          February 3, 2001 and January 29, 2000             4

          CONSOLIDATED CONDENSED STATEMENT OF
          CASH FLOWS - for quarter ended
          February 3, 2001 and January 29, 2000             5

          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS        6

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS   10


PART II.  OTHER INFORMATION                               14

          SIGNATURES                                      15

                         PART I - FINANCIAL INFORMATION

Item 1.  FINANCIAL STATEMENTS

                      SPARTECH CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED CONDENSED BALANCE SHEET
                  (Dollars in thousands, except share amounts)

                                     ASSETS
                                          Feb. 3, 2001
                                           (unaudited)    Oct. 28, 2000
Current Assets
  Cash and equivalents                      $  11,727       $  10,495
  Receivables, net                            127,679         143,733
  Inventories                                 100,657          95,130
  Prepayments and other                         9,146           8,443
     Total Current Assets                     249,209         257,801

Property, Plant and Equipment                 418,967         412,373
  Less accumulated depreciation               108,047         100,752
     Net Property, Plant and Equipment        310,920         311,621

Goodwill                                      303,096         305,153

Other Assets                                   15,257          14,394
                                             $878,482        $888,969

                      LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
  Current maturities of long-term debt       $ 18,548       $  18,667
  Accounts payable                             85,676          90,077
  Accrued liabilities                          30,180          38,016
     Total Current Liabilities                134,404         146,760

Long-Term Debt, Less Current Maturities       334,212         334,178

Other Liabilities                              48,338          47,009

     Total Long-Term Liabilities              382,550         381,187
Company-obligated manditorily redeemable
   convertible preferred securities of
   Spartech Capital Trust holding solely
   convertible subordinated debentures        150,000         150,000

Shareholders' Equity
  Common stock, 28,067,023
     shares issued in 2001 and 2000            21,039          21,039
  Contributed capital                          95,021          95,241
  Retained earnings                           132,174         126,149
  Treasury stock, at cost, 1,458,705 shares
     in 2001 and 1,203,456 shares in 2000    (29,391)        (25,306)
  Accumulated Other Comprehensive Income      (7,315)         (6,101)

     Total Shareholders' Equity               211,528         211,022
                                             $878,482        $888,969


See accompanying notes to consolidated financial statements.


                      SPARTECH CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED CONDENSED STATEMENT OF OPERATIONS
           (Unaudited and dollars in thousands, except per share data)


                                                  QUARTER ENDED
                                           Feb. 3, 2001   Jan. 29, 2000

Net Sales                                    $234,685        $198,455

Costs and Expenses
  Cost of sales                               195,031         162,335
  Selling and administrative                   14,103          11,991
  Amortization of intangibles                   2,050           1,139
                                              211,184         175,465

Operating Earnings                             23,501          22,990
  Interest                                      7,141           3,714
  Distributions on
    preferred securities of
    Spartech Capital Trust                      2,562             813

Earnings Before Income Taxes                   13,798          18,463
  Income Taxes                                  5,243           7,296

Net Earnings                                 $  8,555        $ 11,167


Net Earnings Per Common Share:

  Basic                                      $    .32        $    .41
  Diluted                                    $    .32        $    .39

Dividends Per Common Share                   $   .095        $   .085











See accompanying notes to consolidated financial statements.






                      SPARTECH CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS
                      (Unaudited and dollars in thousands)


                                                  QUARTER ENDED
                                           Feb. 3, 2001   Jan. 29, 2000

Cash Flows from Operating Activities
  Net earnings                               $  8,555       $  11,167
  Adjustments to reconcile net earnings
     to net cash provided by operating
     activities:
       Depreciation and amortization            9,065           6,673
       Change in current assets and
          liabilities                         (3,264)        (19,970)
  Other, net                                    (402)           1,142
     Net cash provided by (used for)
       operating activities                    13,954           (988)

Cash Flows from Investing Activities
  Capital expenditures                        (5,411)         (6,489)
  Business Acquisitions                             -         (4,893)
  Retirement of assets                            249               3
     Net cash used for investing activities   (5,162)        (11,379)

Cash Flows from Financing Activities
  Bank Borrowings for Business Acquisitions         -           4,893
  Net borrowings (payments) on revolving
     credit facilities                            206          11,233
  Payments on bonds and leases                  (669)         (1,442)
  Cash dividends on common stock              (2,530)         (2,346)
  Stock options exercised                         521           2,061
  Treasury stock acquired                     (4,987)         (4,877)
     Net cash (used for) provided by
       financing activities                   (7,459)           9,522

  Effect of exchange rate changes on cash
     and equivalents                            (101)            (25)

Increase (Decrease) In Cash and Equivalents     1,232         (2,870)

Cash and Equivalents At Beginning Of Period    10,495           8,890

Cash and Equivalents At End Of Period       $  11,727        $  6,020


See accompanying notes to consolidated financial statements.





                      SPARTECH CORPORATION AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
         (Unaudited and dollars in thousands, except per share amounts)


NOTE A - Basis of Presentation

      Our  consolidated  financial statements include the accounts  of  Spartech
Corporation and its wholly owned subsidiaries.  These financial statements  have
been  prepared  on a condensed basis and, accordingly, certain  information  and
note   disclosures  normally  included  in  financial  statements  prepared   in
accordance with generally accepted accounting principles have been condensed  or
omitted  pursuant  to the rules and regulations of the Securities  and  Exchange
Commission.  In the opinion of management, the financial statements contain  all
adjustments  (consisting solely of normal recurring adjustments) and disclosures
necessary  to  make  the  information presented therein not  misleading.   These
financial  statements  should  be  read in  conjunction  with  the  consolidated
financial statements and accompanying footnotes thereto included in our  October
28, 2000 Annual Report on Form 10-K.

      Our  fiscal year ends on the Saturday closest to October 31.  Fiscal  year
2001 will include 53 weeks compared to 52 weeks in 2000.  As a result, the first
quarter  ended  February 3, 2001 consists of 14 weeks, compared to  the  13-week
first  quarter  ended January 29, 2000.  Operating results for any  quarter  are
traditionally  seasonal  in  nature and are not necessarily  indicative  of  the
results expected for the full year.


NOTE B - Inventories

      Inventories  are  valued  at the lower of cost  (first-in,  first-out)  or
market.   Inventories at February 3, 2001 and October 28, 2000 are comprised  of
the following components:

                                               2001            2000
          Raw materials                      $ 58,719        $ 55,253
          Finished goods                       41,938          39,877

                                            $ 100,657        $ 95,130



NOTE C - Cash Flow Information

     Supplemental information on cash flows and noncash transactions for the
quarter ended February 3, 2001 and January 29, 2000 is as follows:

                                               2001            2000
  Cash paid for:
     Interest                                $  7,012        $  2,126
     Income taxes                            $    377        $    348




                      SPARTECH CORPORATION AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
         (Unaudited and dollars in thousands, except per share amounts)

Note D - Comprehensive Income

     Comprehensive Income is an entity's change in equity during the period from
transactions, events and circumstances from non-owner sources.  The
reconciliation of Net Earnings to Comprehensive Income for the quarters ended
February 3, 2001 and January 29, 2000:

                                                   QUARTER ENDED
                                           Feb. 3, 2001   Jan. 29, 2000

Net Earnings                                 $  8,555         $ 11,167
Foreign currency translation
  adjustments                                     762              366
Cash flow hedge adjustments                   (1,976)                -
     Total Comprehensive Income              $  7,341         $ 11,533


Note E - Segment Information
  Spartech's fifty-one facilities are organized into three reportable segments
based on the nature of the products manufactured.

                                 Quarter Ended
Ne                 Feb. 3, 2001                 Jan. 29, 2000
 t
Sa
le
 s
 *
   Extruded Sheet & Rollstock        $  152,660     $   124,039
   Color & Specialty Compounds           55,944          55,723
   Molded & Profile Products             26,081          18,693
To                                  $  234,685     $   198,455
ta
 l
Ne
 t
Sa
le
 s

Op
er
at
in
 g
Ea
rn
in
gs
   Extruded Sheet & Rollstock        $   16,668     $    14,655
   Color & Specialty Compounds            6,187           6,923
   Molded & Profile Products              2,372           2,090
   Corporate/Other                      (1,726)           (678)
To                                  $   23,501     $    22,990
ta
 l
Op
er
at
in
 g
Ea
rn
in
gs

 *
Ex
cl
ud
es
in
te
rs
eg
me
nt
sa
le
 s
of
$8
,5
41
in
20
01
an
 d

$6
,1
38
in
20
00
pr
im
ar
il
 y
fr
om
th
 e
Co
lo
 r
 &
Sp
ec
ia
lt
 y

Co
mp
ou
nd
 s
se
gm
en
 t


Note F - Recently Issued Accounting Standards

     SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities,
as amended by SFAS No. 137, Accounting for Derivative Instruments and Hedging
Activities - Deferral of the Effective Date of FASB Statement No. 133, and SFAS
No. 138, Accounting for Certain Derivative Instruments and Certain Hedging
Activities, was effective for the Company as of October 29, 2000.  SFAS No. 133
establishes accounting and reporting standards requiring that every derivative
instrument (including certain derivative instruments embedded in other
contracts) be recorded in the balance sheet as either an asset or liability
measured at fair value and that the changes in the derivative's fair value be
recognized currently in earnings unless specific hedge accounting criteria are
met.  Special accounting for qualifying hedges allows a derivative's gains and
losses to offset related results on the hedged item in the income statement, and
requires that a company must formally document, designate and assess the
effectiveness of transactions that receive hedge accounting.  On November 8,
2000, the Company entered into an interest rate swap as a hedge of $125,000 of
variable rate credit facilities.  As of February 3, 2001, the Company has
recorded approximately $2.0 million as a liability and a reduction of
comprehensive income reflecting the reduction in value related to the decline in
interest rates since the interest rate swap's inception.

Item 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

Results of Operations

      The  Company's  fiscal year ends on the Saturday closest  to  October  31.
Fiscal  year  2001 will include 53 weeks compared to 52 weeks  in  2000.   As  a
result,  the first quarter ended February 3, 2001 consists of 14 weeks, compared
to  the  13-week  first quarter ended January 29, 2000.  The  operating  results
presented  below  include discussions on a percentage of sales  basis  for  more
meaningful comparisons.

      Net sales for the first quarter ended February 3, 2001 increased by 18% to
$234.7 million, as compared to $198.5 million during the first quarter last year
primarily  due  to the new volume from our two fiscal 2000 acquisitions  coupled
with  the  benefit  of the additional week in this year's  first  quarter.   The
Company's fiscal 2001 first quarter operating earnings were $23.5 million, up 2%
compared  to  the $23.0 million reported for the same quarter last year.   First
quarter  2001  net  earnings  were $8.6 million, or  $0.32  per  diluted  share,
compared to the $11.2 million, or $0.39 per diluted share, reported in 2000.

      Net  sales  of  the Custom Sheet & Rollstock segment increased  to  $152.7
million.   Strong  packaging  volume,  along  with  new  business  from   recent
acquisitions  and an additional week's activity, more than offset  slowdowns  in
the transportation and building & construction markets and West Coast production
problems related to the California energy situation.  Net sales of the  Color  &
Specialty  Compound  segment  approximated  last  year's  volumes,  despite   an
additional  week's  activity, principally due to its greater level  of  business
with  the  weak  automotive  market.   The Molded  &  Profile  Products  segment
benefited from the fiscal year 2000 acquisitions of Alshin Corporation  and  the
Townsend operation of High Performance Plastics, Inc.  Sales for this group were
up  40% to $26.1 million as compared to $18.7 million in the first quarter  last
year.

      Cost  of  sales  increased 20% to $195.0 million  for  the  quarter  ended
February  3, 2001, compared with $162.3 million for the first quarter 2000,  but
increased to 83.1% of net sales for 2001 from 81.8% for 2000. The less favorable
cost  of  sales  percentage in 2001 primarily relates to an  increase  in  resin
prices.

      Selling and administrative expenses of $14.1 million for the first quarter
of  2001 increased when compared to $12.0 million for the first quarter of 2000,
but remained at 6.0% of net sales.

      Operating  earnings  for the quarter ended February  3,  2001  were  $23.5
million (10.0% of net sales) compared to $23.0 million (11.6% of net sales)  for
the  corresponding  period  in 2000.  The increase  in  operating  earnings  was
achieved  through the increased sales levels, the additional week in  the  first
quarter  2001  and  increase  in sales of higher  margin  Alloy  Plastics.   The
reduction  of  operating earnings as a percentage of net  sales  represents  the
affect  of  costs related the California brownouts, the impact of  higher  resin
prices passed through in the sales price that lowers our margin percentage,  and
the  affect  of  competitive  pricing due to the economic  slowdown  in  certain
markets.

      Interest expense and distributions on preferred securities of $9.7 million
for  the quarter ended February 3, 2001 increased from $4.5 million for the same
period  in  2000 primarily as a result of borrowings related to the acquisitions
completed in 2000, the extra week, and an increase in working capital due to the
increase in resin costs.

      Our effective tax rate was 38.0% for the first quarter of 2001 compared to
39.5% in 2000 reflecting an improvement in our combined state tax rate.

Environmental and Inflation

      We  operate under various laws and regulations governing employee  safety,
the  quantities  of  specified substances that may  be  emitted  into  the  air,
discharged  into waterways, and otherwise disposed of on and off our properties.
We do not anticipate that future expenditures for compliance with these laws and
regulations  will have a material effect on its capital expenditures,  earnings,
or competitive position.

      The  plastic  resins we use in our production process  are  crude  oil  or
natural  gas  derivatives  which are available from a  number  of  domestic  and
foreign suppliers.  Accordingly, our raw materials are only somewhat affected by
supply,  demand,  and price trends of the petroleum industry.   The  pricing  of
resins tends to be independent of crude oil or natural gas except in periods  of
anticipated  or  actual  shortages.  We are not  aware  of  any  trends  in  the
petroleum  industry which will significantly affect its sources of raw materials
in 2001.


Liquidity and Capital Resources

Cash Flow

      Our  primary  sources  of liquidity have been cash  flows  from  operating
activities and borrowings from third parties.  Our principal uses of  cash  have
been  to  support its operating activities, invest in capital improvements,  and
finance  strategic  acquisitions.  Cash flows  for  the  periods  indicated  are
summarized as follows:
                                                  First Quarter
                                                2001           2000
                                              (Dollars in millions)
  Net cash provided by (used for)
     operating activities                    $   14.0    $     (1.0)

  Net cash used for
     investing activities                    $   (5.2)    $   (11.4)
  Net cash (used for) provided by
     financing activities                    $   (7.5)  $       9.5

  Increase (Decrease) in cash
     and equivalents                          $   1.2     $    (2.9)

     Operating cash flow provided by net earnings decreased 23% to $8.6 million.
Operating cash flows provided by changes in accounts receivable totaled $16.4
million due to seasonally lower sales in the first quarter.  Operating cash
flows used for changes in inventory totaled $5.3 million due the typical
transition to what is traditionally our highest sales level in the second
quarter of our fiscal year.  Operating cash flows used for changes in accounts
payable totaled $11.7 due to conversion of some significant resin purchases to
more favorable discounting terms.

     Our primary investing activities are capital expenditures and acquisitions
of businesses in the plastics industry.  Capital expenditures are primarily
incurred to maintain and improve productivity, as well as to modernize and
expand facilities.  Capital expenditures for the quarter ended February 3, 2001
were $5.4 million as compared to $6.5 million for the first quarter of 2000.  We
anticipate total capital expenditures of approximately $19 million for fiscal
2001.

     The cash flows used for financing activities was $7.5 million for the first
quarter  of  2001.   The  primary activity was the net bank  repayments  of  $.5
million,  cash dividend payments of $2.5 million, and treasury stock  purchases,
net of option proceeds, of $4.5 million.

Financing Arrangements

     On November 8, 2000 the Company entered into an interest rate swap for $125
million  of its fixed LIBOR loans outstanding.  Under the swap arrangement,  the
Company's LIBOR rate is fixed at 6.48%, plus the borrowing margin, for a  period
of two years.

      We  anticipate that cash flow from operations, together with the financing
and  borrowings under our bank credit facility, will satisfy our working capital
needs,  regular  quarterly dividends, and planned capital expenditures  for  the
next year.

Other

       The   information  presented  herein  contains  certain   forward-looking
statements,  defined  in Section 21E of the Securities  Exchange  Act  of  1934.
Forward-looking  statements represent our judgement  relating  to,  among  other
things,  future results of operations, growth plans, sales, capital requirements
and  general industry and business conditions applicable to us.  They are  based
largely on our current expectations.  Our actual results could differ materially
from the information contained in the forward-looking statements due to a number
of  factors,  including changes in the availability and cost of  raw  materials,
changes  in the economy or the plastics industry in general, other unanticipated
events  that  may  prevent us from competing successfully  in  existing  or  new
markets,  and our ability to manage our growth effectively.  Investors are  also
directed  to the discussion of risks and uncertainties associated with  forward-
looking  statements contained in our Annual Report on Form 10-K filed  with  the
Securities and Exchange Commission.
PART II - OTHER INFORMATION

Item 6 (a).    Exhibits

     11        Statement re Computation of Per Share Earnings

Item 6 (b).    Reports on Form 8-K

     None


                                   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 thereunto duly authorized.



                                          SPARTECH CORPORATION
                                              (Registrant)




Date:   March 13, 2001             ________/s/Bradley B. Buechler
                                          Bradley B. Buechler
                                          Chairman, President and Chief
                                          Executive Officer
                                          (Principal Executive   Officer)




                                   ________/s/ Randy C. Martin____ ____
                                          Randy C. Martin
                                          Executive Vice President and
                                          Chief Financial Officer
                                          (Principal Financial and
                                          Accounting Officer)