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 January 31, 1998
                                        
                                        
                          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.)

          7733 Forsyth Boulevard, Suite 1450, 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 common shares outstanding as of January 31, 1998:

     Common Stock, $.75 par value per share            26,398,070

                                        
                                        
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                      SPARTECH CORPORATION AND SUBSIDIARIES
                                        
                                      INDEX
                                        
                                January 31, 1998
                                        
                                        
                                        
PART I.   FINANCIAL INFORMATION                           PAGE
          CONSOLIDATED CONDENSED BALANCE SHEET -
          as of January 31, 1998 and November 1, 1997       3

          CONSOLIDATED CONDENSED STATEMENT OF
          OPERATIONS - for the quarter ended
          January 31, 1998 and November 1, 1997             4

          CONSOLIDATED CONDENSED STATEMENT OF
          CASH FLOWS - for quarter ended
          January 31, 1998 and November 1, 1997             5

          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS        6

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS     9


PART II.  OTHER INFORMATION                                13

          SIGNATURES                                       14

                                        
<PAGE>
                         PART I - FINANCIAL INFORMATION
                                        
Item 1.  FINANCIAL STATEMENTS

                      SPARTECH CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED CONDENSED BALANCE SHEET
                  (Dollars in thousands, except share amounts)
                                        
                                     ASSETS
                                          Jan. 1, 1998
                                           (unaudited)    Nov. 1, 1997
Current Assets
  Cash and equivalents                       $  4,927        $  6,058
  Receivables, net                             73,504          74,271
  Inventories                                  55,830          55,851
  Prepayments and other                         5,629           4,517
     Total Current Assets                     139,890         140,697

Property, Plant and Equipment                 174,583         173,743
  Less accumulated depreciation                47,259          44,381
     Net Property, Plant and Equipment        127,324         129,362

Goodwill                                       83,100          83,565

Other Assets                                    5,345           5,179
                                             $355,659        $358,803

                      LIABILITIES AND SHAREHOLDERS' EQUITY
                                        
Current Liabilities
  Current maturities of long-term debt       $    844        $    921
  Accounts payable                             41,545          47,221
  Accrued liabilities                          25,978          26,271
  Due to Echlin Inc.                                -           2,855
     Total Current Liabilities                 68,367          77,268

Long-Term Debt, Less Current Maturities       144,245         141,693

Other Liabilities                              12,284          11,453

     Total Long-Term Liabilities              156,529         153,146

Shareholders' Equity
  Common stock, 26,628,154 shares issued
     in 1998 and 1997                          19,971          19,971
  Contributed capital                          88,639          89,301
  Retained earnings                            28,344          22,912
  Treasury stock, at cost, 230,084 shares
     in 1998 and 147,691 shares in 1997       (3,477)         (2,127)
  Cumulative translation adjustments          (2,714)         (1,668)

     Total Shareholders' Equity               130,763         128,389
                                             $355,659        $358,803

See accompanying notes to consolidated financial statements.


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

                                                  QUARTER ENDED
                                           Jan. 31, 1998  Feb. 1, 1997

Net Sales                                    $133,081        $113,387

Costs and Expenses
  Cost of sales                               110,601          95,308
  Selling and administrative                    8,161           6,864
  Amortization of intangibles                     541             325
                                              119,303         102,497

Operating Earnings                             13,778          10,890
  Interest                                      2,345           1,910

Earnings Before Income Taxes                   11,433           8,980
  Income Taxes                                  4,412           3,502

Net Earnings                                 $  7,021        $  5,478


Net Earnings Per Common Share:

  Basic                                      $    .27        $    .21
  Diluted                                    $    .25        $    .20

Weighted Average Number of Shares Used in
 Computing Net Earnings per Common Share:

  Basic                                        26,398          26,382
  Diluted                                      28,101          27,737

Dividends Per Common Share                   $    .06        $    .05


See accompanying notes to consolidated financial statements.



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

                                                  QUARTER ENDED
                                           Jan. 31, 1998  Feb. 1, 1997

Cash Flows From Operating Activities
  Net earnings                               $  7,021        $  5,478
  Adjustments to reconcile net earnings
     to net cash provided by operating
     activities:
       Depreciation and amortization            3,546           2,824
       Change in current assets and
          liabilities                         (6,089)         (3,134)
  Other, net                                      677           1,103
     Net cash provided by operating
       activities                               5,155           6,271

Cash Flows From Investing Activities
  Capital expenditures                        (2,056)         (2,861)
  Final installment for Hamelin and
    Echlin Acquisitions                       (3,095)         (9,701)
  Retirement of assets                             32              54
     Net cash used for investing activities   (5,119)        (12,508)

Cash Flows From Financing Activities
  Net borrowings (payments) on revolving
     credit facilities                          3,150           7,500
  Payments on bonds and leases                  (658)            (82)
  Cash dividends on common stock              (1,589)         (1,318)
  Stock options exercised                         329             627
  Treasury stock acquired                     (2,341)         (1,653)
  Other, net                                        -               -
     Net cash provided by (used for)
       financing activities                    (1,109)          5,074

  Effect of exchange rate changes on cash
     and equivalents                             (58)            (75)

Increase (Decrease) In Cash and Equivalents   (1,131)         (1,238)

Cash and Equivalents At Beginning Of Period     6,058           4,685

Cash and Equivalents At End Of Period        $  4,927        $  3,447


See accompanying notes to consolidated financial statements.

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


NOTE A - Basis of Presentation

      The accompanying consolidated financial statements include the accounts of
Spartech  Corporation and its wholly-owned subsidiaries (the "Company").   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 the Company's November 1, 1997 Annual Report on Form 10-K.

      The  Company's  fiscal year ends on the Saturday closest  to  October  31.
Operating results for the first 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 January 31, 1998 and November 1, 1997 are comprised  of
the following components:

                                               1998            1997
          Raw materials                      $ 38,564        $ 37,832
          Finished goods                       17,266          18,019

                                             $ 55,830        $ 55,851






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


NOTE C - Cash Flow Information

     Supplemental information on cash flows and noncash transactions for the
quarter ended January 31, 1998 and February 1, 1997 is as follows:

                                               1998            1997
  Cash paid for:
     Interest                                $     61        $    301
     Income taxes                            $    304        $    154


NOTE D - Commitments and Contingencies

      The  Company currently has no litigation with respect to any environmental
matters.

Note E - Earnings Per Share

     In February 1997, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards No. 128 - "Earnings Per Share" ("SFAS 128")
which specifies the computation, presentation and disclosure requirements for
EPS.  Effective with its financial statements for the first quarter ending
January 31, 1998, SFAS 128 replaces the presentation of primary and fully
diluted EPS pursuant to Accounting Principles Board Opinion No. 15 - "Earnings
Per Share" ("APB 15") with the presentation of basic and diluted EPS.  Basic EPS
excludes dilution and is computed by dividing net income available to common
stockholders by the weighted average number of common shares outstanding for the
period.  Diluted EPS reflects the potential dilution that could occur if
securities or other contracts to issue common stock were exercised or converted
into common stock or resulted in the issuance of common stock that then shared
in the earnings of the entity.  All prior-period EPS data has been restated in
accordance with SFAS 128.










                                        
<PAGE>
                      SPARTECH CORPORATION AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
         (Unaudited and dollars in thousands, except per share amounts)
                                        
                                        
Note F - Subsequent Event -- Acquisition

  On February 2, 1998, the Company announced that it entered into an agreement
to acquire all of the stock of Polycom Huntsman, Inc. (Polycom).  Polycom is a
leading supplier of proprietary polymer compounds, color & additive
concentrates, and toll compounding services to a diversified base of customers
in North America and Europe.  Its nine strategically-located manufacturing
facilities have combined sales of approximately $115 million.  The purchase
price is approximately $135 million and will be funded almost entirely with bank
financing.  The transaction is scheduled to close on or before March 31, 1998.




<PAGE>

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

Results of Operations


     Net sales for the first quarter ending January 31, 1998 increased by 17% to
$133.1 million, as compared to $113.4 million during the same quarter last year,
and operating earnings rose by 27% to $13.8 million, from $10.9 million reported
for  the  first  quarter  of 1997.  First quarter 1998 net  earnings  were  $7.0
million,  or  $.25  per  diluted share, compared to $5.5 million,  or  $.20  per
diluted share, reported in 1997.

      Net  sales of the Extruded Sheet & Rollstock Group increased approximately
24%  for  the quarter ended January 31, 1998 over the first quarter 1997 amount.
The increase in Extruded Sheet & Rollstock sales resulted from a 10% increase in
pounds  shipped  and a 17% increase in net sales related to the  acquisition  of
Preferred  Plastic  Sheet,  net  of a 3% decline related  to  price/product  mix
changes  and  weather-related production problems (in which the  ice  storms  in
Canada  limited production at our eastern Canada facilities during the month  of
January).  Net sales in the Color & Specialty Compounds Group declined by 3%, to
$19.5  million in the first quarter of 1998.  Base volume increased by  5%,  but
price/mix  related  changes  had a negative 8%  effect  on  sales.   The  Molded
Products  Group had a reasonable quarter in what traditionally is a slow  period
for  the  group, recording sales of $10.5 million compared to $10.4  million  in
sales for the same quarter last year.

     Cost of sales increased 24% to $110.6 million for the quarter ended January
31, 1998, compared with $95.3 million for the same period of 1997, but decreased
to  83.1% of net sales for 1998 from 84.1% for 1997. The more favorable cost  of
sales percentage in 1998 represents a decline in overall raw material prices and
improved   production  efficiencies,  partially  offset  by   an   increase   in
depreciation as a result of capital expenditures incurred by the Company  during
the last 24 months.

      Selling and administrative expenses of $8.2 million for the first  quarter
of  1998 increased when compared to $6.9 million for the similar period in  1997
due  to the 1997 acquisitions.  On a percentage of net sales basis, selling  and
administrative costs for the quarter remained level at 6.1% in 1998 and 1997.

      Operating  earnings  for the quarter ended January  31,  1998  were  $13.8
million  (10.4% of net sales) compared to $10.9 million (9.6% of net sales)  for
the  corresponding  period  in 1997.  These gains  in  operating  earnings  were
achieved  through the increased sales levels, improved production  efficiencies,
cost  containment  efforts, and the declines in raw material  prices,  discussed
above.

<PAGE>

      Interest  expense of $2.3 million for the quarter ended January  31,  1998
increased  from  $1.9  million  for the same period  in  1997  as  a  result  of
borrowings related to the Preferred Plastics acquisition completed in the fourth
quarter of 1997.

      The  Company's effective tax rate was 38.6% for the first quarter of  1998
compared to 39.0% in 1996.

Environmental and Inflation

      The  Company  is  subject to various laws governing  employee  safety  and
federal,  state,  &  local  laws, and regulations governing  the  quantities  of
certain  specified substances that may be emitted into the air, discharged  into
interstate  and  intrastate waters, and otherwise disposed of  on  and  off  the
properties  of  the  Company.   The  Company does  not  anticipate  that  future
expenditures  for  the  compliance with such laws and regulations  will  have  a
material effect on its capital expenditures, earnings, or competitive position.

      The plastic resins used by the Company in its production process are crude
oil  or natural gas derivatives and are available from a number of domestic  and
foreign  suppliers.  Accordingly, the Company's raw materials are only  somewhat
affected  by supply, demand and price trends of the petroleum industry;  pricing
of  the  resins  tends to follow its own supply and demand  equation  except  in
periods  of  anticipated or actual shortages of crude oil or natural  gas.   The
Company  is  not  aware  of  any  trends in the petroleum  industry  which  will
significantly affect its sources of raw materials in 1998.

      The  effects  of  inflation  have  not been  significant  on  the  overall
operations of the Company during the last few years.  No material amount of  the
Company's  sales  are  made pursuant to fixed price, long-term  contracts.   The
Company has historically been successful in compensating for inflationary  costs
through  increased  selling  prices and/or increased  productivity  and  related
efficiencies.  The Company anticipates this trend will continue in the future.

Liquidity and Capital Resources

Cash Flow

      The  Company's  primary sources of liquidity have  been  cash  flows  from
operating activities and borrowings from third parties.  The Company's principal
uses of cash have been to support its operating activities, invest in capital
<PAGE>
improvements, and finance strategic acquisitions.  The Company's cash flows  for
the periods indicated are summarized as follows:
                                                  First Quarter
                                               1998            1997
                                              (Dollars in millions)
  Net cash provided by
     operating activities                    $    5.2      $     6.3

  Net cash used for
     investing activities                      $  (5.1)       $ (12.5)
  Net cash provided by (used for)
     financing activities                      $  (1.1)       $  5.1

  The Company continues to generate strong cash flows from operations, resulting
from the 28% increase in net earnings in the first quarter 1998 compared to  the
corresponding period of the prior year.  Operating cash flows used  for  changes
in  working capital totaled $6.1 million in the quarter ended January 31,  1998,
primarily  as a result of the decrease in accounts payable to take advantage  of
favorable vendors' terms.

   The  Company's  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 January  31,  1998
were  $2.1  million as compared to $2.9 million for the first quarter  of  1997.
The  Company  anticipates  total  capital expenditures  of  approximately  $12.5
million  for fiscal 1998.  Also impacting the first quarter 1998 cash  used  for
investing  activities was the final payment, in January 1998, on  the  Preferred
Plastics  acquisition.  The amount was reflected as a current payable at  fiscal
year end November 1, 1997.

     The cash flows used by financing activities were $1.1 million for the first
quarter  of  1998.  The primary activity was the net borrowings of $3.2  million
which  included  the  impact of funding the $3.1 million final  installment  due
Echlin  in  the first quarter 1998, cash dividend payments of $1.6 million,  and
purchases of treasury stock, net of stock options exercised, of $2.0 million.


<PAGE>
Financing Arrangements

      In  August 1995, the Company completed a $50 million private placement  of
senior  unsecured  notes at a fixed rate of 7.21% and finalized  a  $40  million
unsecured  bank  credit facility.  In September 1996, the  Company  completed  a
simultaneous  public  offering of 3 million shares of  common  stock  for  $25.9
million  in net proceeds and a $30 million private placement of 7.62% guaranteed
senior  notes to finance the acquisition of Hamelin Group.  On August 22,  1997,
the  Company completed a $60 million private placement of 7.0% senior  notes  to
finance the Preferred Plastics acquisition.

      The Company anticipates that cash flow from operations, together with  the
financing and borrowings under the Company's bank credit facility, will  satisfy
its  working  capital  needs, regular quarterly dividends, and  planned  capital
expenditures for the next year.

Other

       The   information  presented  herein  contains  certain   forward-looking
statements,  as defined in the Private Securities Litigation Reform Act  (PSLRA)
of  1995, which are based on current expectations and that involve certain risks
and  uncertainties.  The Company desires to take advantage of the "safe  harbor"
provisions of the PSLRA by cautioning that numerous important factors,  in  some
cases  have  affected,  and  in the future could affect,  the  Company's  actual
results and could cause its consolidated results to differ materially from those
expressed   in  or  implied  by  the  forward-looking  statements   or   related
assumptions.    Investors  are  directed  to  the  discussion   of   risks   and
uncertainties  associated  with  forward-looking  statements  contained  in  the
Company's  Annual  Report  on Form 10-K filed with the Securities  and  Exchange
Commission.

                                        
<PAGE>
                           PART II - OTHER INFORMATION
                                        
Item 6 (a).    Exhibits

               11 Statement re Computation of Per Share Earnings

               27 Financial Data Schedule

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

               None

                                        
<PAGE>
                                   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 2, 1998              /s/    Bradley B. Buechler_______
                                          Bradley B. Buechler
                                          President and Chief
                                          Executive Officer
                                          (Principal Executive   Officer)




                                   /s/    Randy C. Martin_____________
                                          Randy C. Martin
                                          Vice President - Finance and
                                          Chief Financial Officer
                                          (Principal Financial and
                                          Accounting Officer)