FORM 10-Q

                          UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549


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

For the quarterly period ended March 31, 1999

                               OR

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

For the transition period from           to               .

Commission file number:  0-20704

                     ACX TECHNOLOGIES, INC.
     (Exact name of registrant as specified in its charter)

           Colorado                          84-1208699
(State or other jurisdiction of           (I.R.S. Employer
incorporation or organization)          Identification No.)

 16000 Table Mountain Parkway,  Golden, Colorado    80403
     (Address of principal executive offices)     (Zip Code)

                         (303) 271-7000
      (Registrant's telephone number, including area code)

Indicate  by check mark 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
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.

                Yes [X]                    No [  ]

There  were 28,440,291 shares of common stock outstanding  as  of
May 1, 1999.



                 PART I.  FINANCIAL INFORMATION


Item 1.  Financial Statements


                  ACX TECHNOLOGIES, INC.
               CONSOLIDATED INCOME STATEMENT
           (In thousands, except per share data)


                                     Three months ended
                                          March 31,
                                    --------------------
                                      1999         1998
                                    --------    --------
Net sales                           $242,555    $236,733

  Cost of goods sold                 194,046     188,065
                                    --------    --------
Gross profit                          48,509      48,668

  Selling, general and
    administrative                    27,075      27,870
  Asset impairment charges               ---       7,238
                                    --------    --------
Operating income                      21,434      13,560

Other income (expense) - net              93        (147)
Interest expense - net                (5,209)     (4,374)
                                    --------    --------
Income before income taxes            16,318       9,039

Income tax expense                     6,600       3,600
                                    --------    --------
Net income                            $9,718      $5,439
                                    ========    ========

Comprehensive income                  $9,568      $5,810
                                    ========    ========

Net income per basic share             $0.34       $0.19
                                    ========    ========

Net income per diluted share           $0.34       $0.19
                                    ========    ========
Weighted average shares
  outstanding - basic                 28,427      28,425
                                    ========    ========
Weighted average shares
  outstanding - diluted               28,721      29,134
                                    ========    ========

See Notes to Consolidated Financial Statements.




                      ACX TECHNOLOGIES, INC.
                    CONSOLIDATED BALANCE SHEET
                (In thousands, except share data)

                                             March 31,   December 31,
                                               1999          1998
ASSETS                                      -----------  ------------
Current assets:
  Cash and cash equivalents                    $32,747       $26,196
  Accounts receivable                          106,118        92,763
  Inventories:
    Finished                                    72,507        62,484
    In process                                  40,458        37,458
    Raw materials                               44,173        48,610
                                            ----------      --------
  Total inventories                            157,138       148,552
  Notes receivable                              60,438        60,568
  Other assets                                  30,542        30,076
                                            ----------      --------
    Total current assets                       386,983       358,155
Properties at cost less accumulated
  depreciation of $305,838 in 1999
  and $286,204 in 1998                         395,742       373,691
Goodwill, net                                  228,165       206,583
Other assets                                    23,598        22,776
                                            ----------      --------
Total assets                                $1,034,488      $961,205
                                            ==========      ========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current maturities of long-term debt          $105,129       $86,300
Other current liabilities                      126,807       119,311
                                            ----------      --------
  Total current liabilities                    231,936       205,611

Long-term debt                                 274,071       233,000
Other long-term liabilities                     57,477        61,260
                                            ----------      --------
  Total liabilities                            563,484       499,871
Minority interest                               13,181        13,379

Shareholders' equity
Preferred stock, nonvoting, $0.01 par
  value, 20,000,000 shares authorized
  and no shares issued or outstanding              ---           ---
Common stock, $0.01 par value 100,000,000
  shares authorized and 28,436,000 and
  28,373,000 issued and outstanding at
  March 31, 1999, and December 31, 1998            284           284
Paid-in capital                                451,700       451,401
Retained earnings                               11,428         1,710
Accumulated other comprehensive loss            (5,589)       (5,440)
                                            ----------      --------
  Total shareholders' equity                   457,823       447,955
                                            ----------      --------
Total liabilities and shareholders' equity  $1,034,488      $961,205
                                            ==========      ========

See Notes to Consolidated Financial Statements.



                  ACX TECHNOLOGIES, INC.
            CONSOLIDATED STATEMENT OF CASH FLOWS
                      (In thousands)

                                        Three months ended
                                             March 31,
                                        --------------------
                                          1999         1998
                                        --------    --------
Cash flows from operating
  activities:
  Net income                             $9,718      $5,439
  Adjustments to reconcile net
    income to net cash provided
    by operating activities:
      Asset impairment charges              ---       7,238
      Depreciation and amortization      14,452      13,772
      Change in current assets and
        current liabilities and other    (9,643)    (17,674)
                                         ------     -------
Net cash provided by operating
  activities                             14,527       8,775
                                         ------     -------
Cash flows from investing
  activities:
      Capital expenditures              (19,285)    (19,216)
      Acquisitions, net of cash
        acquired                        (48,854)   (294,435)
                                         ------     -------
Net cash used in investing
  activities                            (68,139)   (313,651)
                                         ------     -------
Cash flows from financing
  activities:
      Proceeds from the issuance
        of debt                          69,663     282,690
      Repayment of debt                  (9,500)        ---
                                         ------     -------
Net cash provided by financing
  activities                             60,163     282,690
                                         ------     -------
Cash and cash equivalents:
  Net increase (decrease) in cash
    and cash equivalents                  6,551     (22,186)
  Balance at beginning of period         26,196      15,671
                                         ------     -------
  Balance at end of period              $32,747     ($6,515)
                                        =======     =======

See Notes to Consolidated Financial Statements.




             ACX TECHNOLOGIES, INC. AND SUBSIDIARIES
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


Note 1.  1999 Acquisitions

     On  March  12, 1999, the Company acquired the net assets  of
Precision Technologies (Precision) for approximately $22  million
in  cash  and 300,000 warrants to receive shares of the Company's
common stock at an exercise price equal to the fair market  value
at  the  date  of  closing.  These warrants vest  only  upon  the
achievement  of  certain revenue goals within three  years.   The
Precision  acquisition has been accounted for under the  purchase
method.  Accordingly, the estimated excess of the purchase  price
over  the fair value of net assets acquired of approximately  $19
million is being amortized using the straight-line method over 20
years.  Precision Technologies, located in Livermore, California,
manufactures  precision-machined  parts  for  the  semiconductor,
medical, and aircraft industries.

       On  March  1,  1999,  the  Company  acquired  all  of  the
outstanding   shares   of  Edwards  Enterprises   (Edwards)   for
approximately  $18 million in cash.  The Edwards acquisition  has
been  accounted for under the purchase method.  Accordingly,  the
estimated excess of the purchase price over the fair value of net
assets  acquired  of approximately $4 million is being  amortized
using   the   straight-line  method  over  20   years.    Edwards
Enterprises,   located   in   Newark,  California,   manufactures
precision-machined parts for the semiconductor industry.


Note 2.  Asset Impairment Charges

     During the first quarter of 1998, the Company recorded  $7.2
million  in  asset impairment charges at Coors Ceramics  and  the
Solar Electric business unit.

     Coors Ceramics recorded a $6.2 million charge related to the
cancellation  of its C-4 technology agreement with IBM.   Changes
in  the  market for C-4 applications extended the time frame  for
achieving  commercial  sales beyond original  expectations.  This
lack  of near term commercial sales opportunities, combined  with
increasing  overhead  costs, prompted the  Company  to  negotiate
termination  of the agreement.  Consequently, the  Company  wrote
off the long-lived assets associated with this project.

     The  Solar  Electric business unit recorded a  $1.0  million
asset  impairment charge to write down the long-lived  assets  of
Solartec,  S.A., a solar electric systems distributor located  in
Argentina.  Since acquiring Solartec in November 1996,  operating
cash  flows  were below original expectations.  As a result,  the
Company  recorded this impairment to the asset value of  Solartec
to  an  amount  that could be realized through  estimated  future
operating cash flows.
     

Note 3. Segment Information

     The  Company's reportable segments (Packaging and  Ceramics)
are based on its method of internal reporting, which is based  on
product category.  In addition, as of March 31, 1999, the Company
owns   a   majority  interest  in  a  group  of  solar   electric
distribution   companies   and  a   real   estate   developmental
partnership, which are included in the Other Segment.  The  Other
Segment  also  includes, prior to January 31,  1999,  a  corn-wet
milling  facility,  and  prior  to March  1998,  a  biodegradable
polymer developmental business.
     
     The  Company  evaluates the performance of its segments  and
allocates resources to them based primarily on operating income.

      The  table  below  summarizes  information  about  reported
segments as of and for the three months ended March 31:

                          Operating  Depreciation
                   Net      Income       and                    Capital
(In thousands)    Sales     (Loss)   Amortization    Assets   Expenditures
                 -------- ---------  ------------ ----------  ------------
1999

Packaging        $150,726   $12,839      $8,566     $564,350      $17,271
Ceramics           76,579    10,517       5,388      313,020        1,548
Other              15,250       425         430       54,148          466
                 -------- ---------  ----------   ----------  -----------
  Segment total   242,555    23,781      14,384      931,518       19,285
Corporate             ---    (2,347)         68      102,970          ---
                 -------- ---------  ----------   ----------  -----------
  Consolidated
    total        $242,555   $21,434     $14,452   $1,034,488      $19,285
                 ======== =========  ==========   ==========  ===========
1998                                                              
                                                                        
Packaging        $139,536   $13,353      $8,417     $558,729      $10,146
Ceramics           80,945     5,577       4,816      270,184        7,873
Other              16,252    (2,965)        459       77,029        1,154
                 -------- ---------  ----------     --------  -----------
  Segment total   236,733    15,965      13,692      905,942       19,173
Corporate             ---    (2,405)         80       80,016           43
Discontinued
  operations          ---       ---         ---      126,049          ---
                 -------- ---------  ----------   ----------  -----------
  Consolidated
    total        $236,733   $13,560     $13,772   $1,112,007      $19,216
                 ======== =========  ==========   ==========  ===========


Note 4. Subsequent Event

     On  April  25,  1999, the Company entered into a  definitive
purchase  agreement with Fort James Corporation (Fort  James)  to
acquire the net assets of Fort James' folding carton business for
$830  million in cash. The folding carton business of Fort  James
is  a  major  supplier  of folding cartons  to  leading  consumer
product  companies.   The Fort James folding carton  business  is
comprised  of  12 carton plants and a paper mill.  The  agreement
has  been approved by the Boards of Directors of both the Company
and  Fort James and is still subject to regulatory approvals. The
Company expects to finance the acquisition with a combination  of
short-term  and long-term credit facilities with Bank of  America
and to close the transaction by July 1999.
     
     In April 1999, the Company decided to seek a strategic buyer
for its flexible packaging business.



Item  2.    Management's  Discussion and  Analysis  of  Financial
            Condition and Results of Operations


General Business Overview

      ACX  Technologies, Inc. (the Company),  together  with  its
subsidiaries,   is  a  diversified,  value  added   manufacturing
organization   focused  on  pioneering  differentiated   customer
solutions.   Two business segments comprise the majority  of  the
Company's   results  from  operations:  the  packaging  business,
operated   through   Graphic   Packaging   Corporation   (Graphic
Packaging),  and  the ceramics business, operated  through  Coors
Ceramics Company (Coors Ceramics).

      Graphic Packaging is a nonintegrated manufacturer  of  both
folding  cartons  and flexible packages and participates  in  the
beverage,  frozen  food, dried food, soap and detergent,  bakery,
tobacco,  pet  food,  confectionery,  quick  service  restaurant,
coffee, photographic, and personal care markets.  In April  1999,
the  Company  decided to seek a strategic buyer for its  flexible
packaging business in order to concentrate on the folding  carton
business.

      On  April  25, 1999, the Company entered into a  definitive
purchase  agreement with Fort James Corporation (Fort  James)  to
acquire the net assets of Fort James' folding carton business for
$830  million in cash. The folding carton business of Fort  James
is  a  major  supplier  of folding cartons  to  leading  consumer
product  companies.   The Fort James folding carton  business  is
comprised  of  12 carton plants and a paper mill.    The  Company
expects to close the acquisition by the end of July 1999.

      Coors  Ceramics develops, manufactures, and sells  advanced
technical ceramic products and other engineered materials  across
a   wide   range  of  product  lines  for  a  variety  of  custom
applications.   Coors Ceramics, which has been  in  business  for
more  than  78  years,  is  the largest  U.S.-owned,  independent
manufacturer  of  advanced technical ceramics.  The  majority  of
Coors   Ceramics'  sales  are  to  the  semiconductor  equipment,
petrochemical,   power   generation   and   mining,   automotive,
telecommunications,  and  pulp and paper  industries.   In  March
1999, the Company acquired Precision Technologies (Precision) and
Edwards  Enterprises (Edwards), both manufacturers of  precision-
machined   parts   primarily  for  the  semiconductor   equipment
industry.

     In addition to the primary operating businesses, the Company
owns  other  businesses (Other); primarily operating through  its
majority   owned  subsidiary,  Golden  Genesis  Company   (Golden
Genesis).    Golden   Genesis'  focus  is   on   assembling   and
distributing  solar electric systems.  The Other businesses  also
include a real estate development partnership.  Additionally, the
historical   results  for  the  Other  businesses   include   the
operations  of  a biodegradable polymer project  and  a  corn-wet
milling   facility.    During  1998,  the  Company   exited   the
biodegradable polymer project.  On January 31, 1999, the  Company
sold  the corn-wet mill operation.  The Company is working toward
exit strategies for all noncore businesses.

Results from Continuing Operations

     Consolidated net sales for the three months ended March  31,
1999  were $242.6 million, an increase of $5.8 million, or  2.5%,
compared  to the same period in 1998.  This increase is primarily
attributable  to  having  a  full quarter  of  sales  related  to
Universal  Packaging,  which was acquired on  January  14,  1998,
offset  by  lower  comparative sales at Ceramics  and  the  Other
businesses.

     Consolidated gross profit was $48.5 million, a  decrease  of
$0.2  million  compared to the same period in 1998.  Consolidated
gross  margin  was 20.0% for the first quarter 1999  compared  to
20.6%  for the 1998 similar period.  The lower 1999 first quarter
consolidated gross profit and gross margin resulted  from  margin
declines  at both Coors Ceramics and Graphic Packaging, primarily
due to competitive price pressures.

     For the first quarter of 1999, consolidated operating income
increased  $7.9  million  to  $21.4 million.   This  increase  in
operating  income  is  primarily due to  $7.2  million  in  asset
impairment charges recorded in the first quarter of 1998.   Coors
Ceramics recorded a $6.2 million asset impairment charge  related
to the termination of its C-4 technology agreement with IBM.  The
Solar  Electric  business  unit recorded  a  $1.0  million  asset
impairment  charge  to write down the long-lived  assets  of  its
Argentinean  subsidiary, Solartec.  In addition, the  elimination
of  operating losses from the Other businesses contributed to the
increase  in  first  quarter 1999 operating  income.   Offsetting
these  positive  factors  were lower  operating  income  at  both
Graphic  Packaging  and Coors Ceramics, due  to  increased  price
pressures  in the first quarter 1999 as compared to  the  similar
period last year.

     Net  interest expense increased to $5.2 million in the first
quarter  of 1999, compared to $4.4 million for the first  quarter
of  1998.   The increase in interest expense is due to additional
borrowings  related  to  the  recent Ceramics'  acquisitions  and
borrowings  related to 1999 and 1998 capital expenditures.   This
increase  in  net  interest  expense is  partially  offset  by  a
decrease in the Company's weighted average interest rate  in  the
first quarter of 1999 compared to the first quarter of 1998.
     
     The consolidated effective tax rate for the first quarter of
1999  and  1998  was  approximately 40%.  The primary  difference
between  the  1999  first  quarter effective  tax  rate  and  the
statutory rate relates to state and foreign taxes, as well as the
impact  of charges that are not deductible for tax purposes  such
as the amortization of goodwill.

Liquidity and Capital Resources

      The Company's liquidity is generated from both internal and
external  sources and is used to fund short-term working  capital
needs,  capital  expenditures, and acquisitions.   At  March  31,
1999,  the  Company's working capital was $155.0 million  with  a
current ratio of 1.67 to 1.

      In 1998, the Company established a two-year, unsecured $250
million  revolving credit facility. The Company may  extend  this
facility for two additional one-year periods with the consent  of
the  participating banks.  Amounts borrowed under  this  facility
bear  interest under various pricing alternatives, including  (i)
LIBOR  plus  a spread depending on the Company's debt ratings  or
(ii)  a  competitive  money  market auction.   In  addition,  the
Company pays a commitment fee on the committed amount.  At  March
31,  1999,  $177  million was outstanding under this  line.   The
Company   intends  to  replace  this  facility  with  longer-term
financing prior to the expiration date of the facility.

      The  Company  has $100 million of senior notes  outstanding
under  a  private  placement agreement  bearing  interest  at  an
average  rate of 8%.  Of this amount, $70 million is due November
1, 1999, with the remaining $30 million due in November 2001.  In
addition,  the  Company  assumed $92.5 million  of  senior  notes
through  its  acquisition of Britton, of which $9.5  million  was
repaid  in the first quarter of 1999.  These notes bear  interest
at  approximately  7.1% and are payable in  installments  between
1999 and 2006.

      The Company has an uncommitted $20 million revolving credit
facility  with Wachovia Bank, N.A.   As of March 31, 1999,  $19.2
million was outstanding under this facility.

      The  Company  expects to finance the  acquisition  of  Fort
James' folding carton businesses with a combination of short-term
and  long-term  credit  facilities  with  Bank  of  America.   In
conjunction with this acquisition, the Company plans to use these
credit  facilities to prepay the $100 million senior note holders
and  the  $83  million  senior note holders  remaining  from  the
Britton  acquisition and repay all amounts outstanding under  the
two-year, unsecured $250 million revolving credit facility.

      The  Company  has  entered  into  contracts  to  hedge  the
underlying interest rate on $175 million of anticipated long-term
borrowings.  These contracts lock in an average risk-free rate of
approximately  5.78%  and  expire  on  November  1,  1999.    The
anticipated borrowings will be used to refinance a portion of the
Bank  of  America credit facilities.  As of March 31,  1999,  the
unrecognized  loss  associated with  these  hedge  contracts  was
approximately $5.3 million.

      During 1998, the Company's Board of Directors approved  the
repurchase  of up to 5% of the outstanding common shares  of  the
Company.   As  of  March  31, 1999, the Company  had  repurchased
181,200 shares at an aggregate cost of $2.4 million.

       The   Company  currently  expects  that  cash  flows  from
operations,  the  sale  of certain assets, borrowings  under  its
current credit facilities, and anticipated new borrowings will be
adequate  to  meet  the  Company's  needs  for  working  capital,
temporary  financing for capital expenditures,  debt  repayments,
and acquisitions.

Year 2000 Readiness Disclosure
     
     The  Year  2000  issue arose because many existing  computer
programs  use  only  the last two digits  to  refer  to  a  year.
Therefore,  these computer programs do not properly  recognize  a
year that begins with "20" instead of the familiar "19".  If  not
corrected,  many  computer  applications  could  fail  or  create
erroneous results disrupting normal business operations.

     Management  has  implemented an enterprise-wide  program  to
prepare   the  Company's  financial,  manufacturing,  and   other
critical systems and applications for the year 2000.  The program
includes  a  task force established in March 1998  that  has  the
support  and  participation  of  upper  management  and  includes
individuals  with  expertise  in  risk  management,  legal,   and
information  technologies.  The Board of Directors  monitors  the
progress  of the program on a quarterly basis.  The task  force's
objective  is to ensure an uninterrupted transition to  the  year
2000   by  assessing,  testing,  and  modifying  all  information
technology  (IT) and non-IT systems, interdependent systems,  and
third parties such as suppliers and customers.

     The  Year 2000 task force has taken an inventory of  all  IT
and non-IT systems.  This inventory categorizes potential systems
date  failures  into  three  categories:   "major"  (critical  to
production  and could be business threatening with no  short-term
alternatives  available); "limited" (disrupting to  the  business
operations  with  short-term solutions  available);  and  "minor"
(inconsequential to the business operations).  The task force has
prioritized the program to focus first on "major" systems.  It is
the  Company's  goal to have all systems Year 2000  compliant  no
later than September 1, 1999.

     IT  Systems  -  The  Company  is  primarily  using  internal
resources to remediate IT systems.  External resources  are  used
to  assist in testing compliance of IT systems.  The Company does
not  rely  on any one IT system.  The majority of the IT  systems
have  been  recently purchased from third party  vendors.   These
systems  were  already  Year  2000 compliant  or  had  Year  2000
compliance upgrades.  As of March 31, 1999, approximately 80%  of
the Company's IT systems were Year 2000 compliant.
     
     Non-IT   Systems   -   The  Company  has  approximately   40
manufacturing  facilities with varying degrees of non-IT  systems
(such  as  printing presses, automated kiln systems,  statistical
process  control  systems,  ink mixing systems,  quality  control
systems,  and machining equipment).  The vast majority  of  these
facilities  are  located in North America.  To ensure  Year  2000
compliance  for  non-IT systems, the Year  2000  task  force  has
contacted  the  suppliers of these non-IT  systems  and  obtained
statements that the systems are Year 2000 compliant and is in the
process  of testing Year 2000 compliance.  The majority of  these
non-IT  systems use time intervals instead of dates and are  Year
2000  compliant.   Thus,  the  Company  believes  that  potential
disruptions of such systems due to the Year 2000 issue should  be
minimal.   As  of  March  31,  1999,  approximately  90%  of  the
Company's  "major"  and "limited" non-IT systems  are  Year  2000
compliant.  The "minor" non-IT systems are in various  stages  of
compliance.
     
     Third Parties - The Year 2000 task force has been in contact
with  key  suppliers and customers to minimize potential business
disruptions  related to the Year 2000 issue between  the  Company
and these third parties.  The task force has focused on suppliers
and  customers  that  are  classified as "major"  and  "limited."
While  the  Company cannot guarantee compliance  by  third  party
suppliers, the Company has developed contingency plans to  ensure
the availability of inventory supplies in the event a supplier is
not Year 2000 compliant.
     
     Contingency  Plans  -  The Company  is  in  the  process  of
finalizing  contingency plans in the event there  are  Year  2000
failures  related to the Company's IT and non-IT  systems  and/or
key  third  parties.  The Company's manufacturing facilities  are
not interdependent in terms of non-IT systems, and its facilities
utilize  a  diverse  range  of  non-IT  systems  (i.e.,  printing
presses,   kilns,  and  other  manufacturing   equipment).     In
addition,  no one facility accounts for a significant  amount  of
revenue.   Thus, the contingency plan for non-IT systems includes
the  transfer  of production between facilities and manufacturing
equipment.  Currently, the Company believes that there is  enough
manufacturing capacity to accommodate the contingency plan.
     
     The Company's IT systems are also not heavily interdependent
between facilities and key third parties and the Company utilizes
a  diverse  range  of IT systems.  The contingency  plan  for  IT
systems  includes the ability to transfer transaction processing,
record  keeping,  and  compliance  work  between  facilities  and
maintaining "hard" copies of critical information.
     
     The  Company  is  not dependent on any  one  supplier.   The
Company  has  established  back-up suppliers  and  will  maintain
adequate  inventory levels at December 31, 1999 to  minimize  the
potential business disruption in the event of a Year 2000 failure
by a supplier.
     
     Costs  -  Through  March  31, 1999, the  Company  has  spent
approximately $0.9 million out of an estimated total $1.8 million
related  to the Year 2000 issue.  These costs include  the  costs
incurred  for external consultants and professional advisors  and
the  costs  for  software  and hardware.   The  Company  has  not
separately  tracked internal costs such as payroll related  costs
for  its  information  technologies  group  and  other  employees
working on the Year 2000 project.  The Company expenses all costs
related  to  the  Year 2000 issue as incurred.  These  costs  are
being funded through operating cash flows.
     
     The Company's current estimate of the time and costs related
to  the remediation of the Year 2000 issue are based on the facts
and  circumstances existing at this time.  New developments could
affect  the Company's estimates to remediate the Year 2000 issue.
These  developments  include, but are not  limited  to:  (i)  the
availability and cost of personnel trained in this area; (ii) the
ability  to  identify  and remediate all IT and  non-IT  systems;
(iii)  unanticipated failures in IT and non-IT systems; and  (iv)
the  planning and Year 2000 compliance success that key customers
and suppliers attain.

Segment Information

     Net sales and operating income for the first quarter 1999
and 1998 are summarized by segment below:

                                                Operating
(In thousands)           Net Sales             Income (Loss)
                   -------------------      -----------------
                       1999       1998         1999      1998
                   --------   --------      -------   -------
Graphic Packaging  $150,726   $139,536      $12,839   $13,353
Coors Ceramics       76,579     80,945       10,517     5,577
Other                15,250     16,252          425    (2,965)
Corporate               ---        ---       (2,347)   (2,405)
                   --------   --------      -------   -------
                   $242,555   $236,733      $21,434   $13,560
                   ========   ========      =======   =======


Graphic Packaging

     Graphic  Packaging reported net sales for the first  quarter
of  1999 of $150.7 million, an increase of $11.2 million, or 8.0%
over  1998  first quarter net sales.  This increase is  primarily
attributable  to  having  a  full quarter  of  sales  related  to
Universal  Packaging,  which was acquired on  January  14,  1998.
Graphic  Packaging's  1999  first  quarter  base  folding  carton
business net sales were flat compared to the same period in 1998.
Graphic  Packaging's flexible division had lower  sales  for  the
first quarter of 1999 compared to the similar 1998 period due  to
competitive price pressures within the industry.

     Graphic  Packaging's operating income was $12.8 million  for
the  first  quarter  of 1999 compared to $13.4  million  for  the
similar 1998 period.  Operating margins decreased to 8.5% for the
first  quarter of 1999 from 9.6% for the first quarter  of  1998.
The  decreases  in  operating profit  and  operating  margin  are
primarily attributable to competitive pricing pressures  at  both
the  base  folding carton and flexible packaging businesses.   An
increase  in  volume at the folding carton business and  improved
manufacturing  efficiencies  partially  offset  the  decrease  in
operating income from price concessions.
     
Coors Ceramics

     Coors  Ceramics'  first quarter 1999 net  sales  were  $76.6
million  compared  to  first quarter  1998  net  sales  of  $80.9
million.   Increased sales volumes to the semiconductor equipment
and  mining and power generation industries were more than offset
by   decreased   sales   to  the  petrochemical,   defense,   and
telecommunications  industries.   The  increased  sales  to   the
semiconductor  equipment industry were partially attributable  to
the  March  1999  acquisitions of Precision and  Edwards.   Coors
Ceramics' continues to see currency influenced price pressures in
several of the industries in which it competes.
     
     Coors  Ceramics' operating income was $10.5 million for  the
first  quarter  of 1999 compared to $5.6 million  for  the  first
quarter of 1998.  The 1998 quarter was impacted by a $6.2 million
asset  impairment  charge  related  to  the  termination  of  the
Company's C-4 technology agreement with IBM.  The lack  of  near-
term commercial sales opportunities for this technology, combined
with  increased overhead costs, prompted the Company to negotiate
termination of the agreement and write-off the long-lived  assets
related  to  this project.  Excluding the impact of this  charge,
operating  income decreased $1.3 million compared  to  the  first
quarter 1998.  Operating margins decreased to 13.7% for the first
quarter of 1999 compared to 14.6% for the first quarter of  1998,
excluding  the  1998 asset impairment charge.  The  decreases  in
operating income and operating margins are primarily attributable
to   currency-influenced  price  competition.    Coors   Ceramics
continues  to  focus  on growth through new product  development,
increasing  sales in its current product lines, and the  addition
of new materials to its product mix.

Other

     As  of  March  31,  1999,  the  Company's  Other  businesses
includes its majority interest in Golden Genesis Company, Inc., a
real  estate partnership, and the results of the Company's  corn-
wet  mill,  which was sold on January 31, 1999.   For  the  first
quarter  of 1998, the Other businesses also included the  results
of the Company's biodegradable polymer project.
     
     Net  sales  for the Other businesses were $15.3 million  for
the  first  quarter  of 1999 compared to $16.3  million  for  the
similar 1998 period.  This decrease is primarily a result of  the
sale of the corn-wet mill in January of 1999.  Also, contributing
to  the  decrease in sales was lower sales for the Solar business
due  to  fewer telecommunications and petrochemical  solar  power
projects in 1999 compared to 1998.
     
     For  the  first  quarter  1999,  the  Other  businesses  had
operating  income of $0.4 compared to an operating loss  of  $3.0
million  for  the  1998 first quarter.  The 1998  operating  loss
includes  a $1.0 million asset impairment charge related  to  the
long-lived assets of Solartec, S.A., a solar electric distributor
in   Argentina.   Since  acquiring  Solartec  in  November  1996,
operating  cash  flows were below original  expectations.   As  a
result, the Company recorded an impairment to reduce the carrying
value  of  its investment in Solartec to an amount that could  be
realized   through   estimated  future  operating   cash   flows.
Operating  income for the first quarter of 1998 also  includes  a
$1.1  million  write-down of inventories and accounts  receivable
associated  with  the  Company's battery charging  operations  in
Brazil.  Excluding these charges, operating losses totaled $0.6.

Corporate

     Corporate  costs of $2.3 million for the first quarter  were
relatively  flat compared to corporate costs of $2.4 million  for
the first quarter of 1998.

Forward-Looking Statements

     Some  of  the statements in this Form 10-Q Quarterly Report,
as  well as statements by the Company in periodic press releases,
oral  statements made by the Company's officials to analysts  and
shareholders in the course of presentations about the Company and
conference   calls   following   quarterly   earnings   releases,
constitute "forward-looking statements" within the meaning of the
Private  Securities  Litigation Reform Act  of  1995.   Words  or
phrases denoting the anticipated results of future events such as
"anticipate," "believe," "estimate," "will likely," "are expected
to,"  "will  continue," "project," and similar  expressions  that
denote  uncertainty are intended to identify such forward-looking
statements.   Such forward-looking statements involve  known  and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of the Company to  be
materially  different  from any future  results,  performance  or
achievements   expressed  or  implied  by   the   forward-looking
statements.   Such  factors  include,  among  other  things,  (i)
general  economic  and  business  conditions;  (ii)  changes   in
industries in which the Company does business, such as  beverage,
food,      telecommunications,     automotive,     semiconductor,
petrochemical,  and tobacco; (iii) the loss of  major  customers;
(iv)  the  loss  of  market  share and increased  competition  in
certain  markets;  (v) industry shifts to alternative  materials,
such  as  replacement  of  ceramics  by  plastics  or  metals,  a
substitution  of  flexible  packaging for  folding  cartons,  and
competitors offering products with characteristics similar to the
Company's products; (vi) changes in consumer buying habits; (vii)
governmental regulation including environmental laws; (viii)  the
ability  of the Company to successfully execute its developmental
business exit strategies; and  (ix) other factors over which  the
Company has little or no control.

     These  statements  should be read in  conjunction  with  the
financial  statements and notes thereto included in the Company's
Form 10-K for the year ended December 31, 1998.  The accompanying
financial  statements  have  not  been  examined  by  independent
accountants  in  accordance  with  generally  accepted   auditing
standards,  but in the opinion of management of ACX Technologies,
such  financial statements include all adjustments  necessary  to
summarize fairly the Company's financial position and results  of
operations.   Except  for  certain  reclassifications   made   to
consistently  report the information contained in  the  financial
statements,  all  adjustments  made  to  the  interim   financial
statements  presented  are  of a normal  recurring  nature.   The
results of operations for the first quarter ended March 31, 1999,
may  not  be indicative of results that may be expected  for  the
year ending December 31, 1999.


   
                           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.


Date: May 13, 1999               By/s/Jed J. Burnham
                                 -------------------------------
                                 Jed J. Burnham
                                 (Chief Financial Officer and
                                  Treasurer)

Date: May 13, 1999               By/s/Beth A. Parish
                                 -------------------------------
                                 Beth A. Parish
                                 (Controller and Principal
                                  Accounting Officer)