FORM 10-Q
                                
               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 June 30, 1998
                                
                               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            (IRS 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 28,579,062 shares of common stock outstanding  as  of
July 24, 1998.
                                
                                
                                
                 PART I.  FINANCIAL INFORMATION
                                
Item 1.  Financial Statements

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

                                                                  
                              Three months ended     Six months ended
                                    June 30,              June 30,
                                  1998       1997       1998       1997
                              --------   --------   --------   --------
Net sales                     $257,326   $186,777   $494,059   $360,235
                                                                      
Costs and expenses:                                                   
  Cost of goods sold           204,334    140,370    392,399    272,230
  Selling, general and                                                
    administrative              25,347     23,969     51,266     46,748
  Research and development       1,739      4,499      3,690      8,416
  Asset impairment and                                              
    restructuring charges           --         --      7,238      2,280
                              --------   --------   --------   --------
    Total operating expenses   231,420    168,838    454,593    329,674
                              --------   --------   --------   --------
Operating income                25,906     17,939     39,466     30,561
                                                                      
Other income - net                 207        260         60        286
Interest expense - net          (5,258)      (610)    (9,632)    (1,765)
                              --------   --------   --------   --------
Income before income taxes      20,855     17,589     29,894     29,082

Income tax expense               8,300      7,150     11,900     11,850
                              --------   --------   --------   --------
Net income                     $12,555    $10,439    $17,994    $17,232
                              ========   ========   ========   ========
Total comprehensive income                                            
  (See Note 4)                 $10,565    $10,244    $16,280    $15,722
                              ========   ========   ========   ========

Net income per basic share       $0.44      $0.37      $0.63      $0.62
                              ========   ========   ========   ========

Net income per diluted share     $0.43      $0.36      $0.62      $0.60
                              ========   ========   ========   ========
Weighted average shares                                               
  outstanding - basic           28,552     28,007     28,489     27,985
                              ========   ========   ========   ========
Weighted average shares                                               
  outstanding - diluted         29,222     28,704     29,179     28,649
                              ========   ========   ========   ========


See Notes to Consolidated Financial Statements



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

                                               June 30,    December 31,
                                                 1998          1997
                                              ---------    ------------
ASSETS                                                      
Current assets:                                                       
  Cash and cash equivalents                     $35,585        $49,355
  Accounts receivable                           106,435         81,359
  Inventories:                                                        
    Finished                                     61,482         48,607
    In process                                   40,792         34,754
    Raw materials                                50,997         30,431
                                               --------       --------
Total inventories                               153,271        113,792

  Note receivable                                58,165             --
  Other assets                                   24,871         25,506
                                               --------       --------
    Total current assets                        378,327        270,012
                                                                      
Properties at cost less accumulated                                   
  depreciation  of $344,876 in 1998                                 
  and $267,625 in 1997                          378,813        249,624
Note receivable                                   3,358         56,549
Goodwill, net                                   213,226         56,883
Other assets                                     24,923         68,128
                                               --------       --------
Total assets                                   $998,647       $701,196
                                               ========       ========
                                                                      
LIABILITIES AND SHAREHOLDERS' EQUITY                                  
Short-term debt                                $168,500       $     --
Other current liabilities                       137,623        111,461
                                               --------       --------
  Total current liabilities                     306,123        111,461
                                                                      
Long-term debt                                  183,000        100,000
Other long-term liabilities                      46,684         46,291
                                               --------       --------
  Total liabilities                             535,807        257,752
Minority interest                                13,384         12,913
                                                                      
Shareholders' equity
Preferred stock, non-voting, $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 28,577,000 and                                  
  28,373,000 shares issued and outstanding                           
  at June 30, 1998 and December 31, 1997            286            284
Paid-in capital                                 454,036        451,336
Retained deficit                                 (1,561)       (19,555)
Cumulative translation adjustment and other      (3,305)        (1,534)
                                               --------       --------
  Total shareholders' equity                    449,456        430,531
                                               --------       --------
Total liabilities and shareholders' equity     $998,647       $701,196
                                               ========       ========

See Notes to Consolidated Financial Statements.




                         ACX TECHNOLOGIES, INC.
                   CONSOLIDATED STATEMENT OF CASH FLOWS
                             (In thousands)
                                                              
                                                              
                                         Six months ended June 30,
                                            1998            1997
                                          --------        --------
Cash flows from operating activities:                         
  Net income                               $17,994         $17,232
  Adjustments to reconcile net income                         
    to net cash provided by operating
    activities:
      Asset impairment and                                    
        restructuring charges                7,238           2,280
      Depreciation and amortization         28,713          21,089
      Change in deferred income taxes          (49)         19,523
      Change in current assets and                            
        liabilities and other              (22,611)          9,587
      
      Net cash provided by operating      --------        --------
        activities                          31,285          69,711
                                          --------        --------
Cash flows used in investing activities:
    Acquisitions, net of cash acquired    (293,394)             --
    Proceeds from sales of assets          127,559          11,049
    Capital expenditures                   (36,993)        (27,203)
    Other                                   (3,755)         (3,778)
                                          --------        --------
Net cash used in investing activities     (206,583)        (19,932)
                                          --------        --------
Cash flows provided by financing                              
activities:
    Proceeds from issuance of debt                           
      and other                            161,528           1,839
                                         ---------        --------
Cash and cash equivalents:                                    
  Net increase (decrease) in cash and                         
    cash equivalents                       (13,770)         51,618
  Balance at beginning of period            49,355          15,671
                                         ---------        --------
  Balance at end of period                 $35,585         $67,289
                                         =========        ========


See Notes to Consolidated Financial Statements.
                                
                                

                                
                     ACX TECHNOLOGIES, INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1.  Acquisition

On  January  14,  1998,  ACX  Technologies,  Inc.  (the  Company)
acquired  Britton Group plc (Britton) pursuant to a  cash  tender
offer  for  $420 million.  Britton was an international packaging
group  operating through two principal divisions: folding cartons
and  plastics.  The folding cartons division, Universal Packaging
Corporation    (Universal   Packaging),   is   a    nonintegrated
manufacturer  of  folding  cartons in  the  United  States,  with
capabilities in design, printing and manufacturing of  multicolor
folding  cartons.   The  plastics division of  Britton  (Plastics
Division)  operates  in  the  United  Kingdom  and  includes  the
extrusion, conversion and printing of polyethylene into films and
bags for industrial customers.

The acquisition has been accounted for under the purchase method.
Accordingly, the estimated excess of purchase price over the fair
value  of  net assets acquired of approximately $160  million  is
being  amortized using the straight-line method  over  30  years.
Certain  balance  sheet  adjustments  or  resolutions  of  issues
between  the parties will also affect the ultimate price  of  the
acquisition  and  the  allocation of  the  purchase  price.   The
results  of Universal Packaging are reflected in the accounts  of
the  Company  beginning  January 14,  1998.  In  accordance  with
management's  decision to dispose of the Plastics Division,  this
business  has  been carried as a discontinued  operation  on  the
books  of  the Company since its acquisition.  The  sale  of  the
Plastics Division was completed on April 20, 1998 (see Note 2).

The  following  pro forma information has been prepared  assuming
that  this  acquisition  had occurred on  January  1,  1997.   In
accordance with the rules regarding the preparation of pro  forma
financial statements, the historical results of Britton  used  to
derive the accompanying pro forma information do not include  the
operations of the Plastics Division, which was sold on April  20,
1998.   The  pro forma information includes adjustments  for  (1)
amortization   of   goodwill  recorded   pursuant   to   purchase
accounting,  (2)  increased  interest  expense  related  to   new
borrowings at applicable rates for the purchase, and (3) the  net
tax  effect of pro forma adjustments at the statutory rate.   The
pro  forma  financial information is presented for  informational
purposes  only  and  may  not be indicative  of  the  results  of
operations  as  they  would have been had  the  transaction  been
effected on the assumed date nor is it necessarily indicative  of
the  results  of operations which may occur in the  future.   The
results  of  Universal  Packaging  have  been  included  in   the
Company's actual results of operations since January 14, 1998.


                                 Three Months         Six Months
(In thousands, except per           Ended               Ended
share data)                      June 30, 1997      June 30, 1997  
                                 -------------      -------------

Net sales                             $237,998           $468,895
                                 =============      =============
Income from continuing                                         
  operations                            $9,631            $16,830
                                 =============      =============
Net income per basic share of                                  
  common stock                           $0.34              $0.60
                                 =============      =============
Net income per diluted share                                    
  of common stock                        $0.34              $0.59
                                 =============      =============



Note 2. Discontinued Operations

Britton Group Plastics Division

On  April 20, 1998, the Company sold the Plastics Division to CVC
Capital  Partners Ltd., a European private equity provider.   The
sale  price  was  approximately  pounds  82.0 million,  or $135.0
million,  including  pounds  80  million in  cash  and a pounds 2
million, 5.25% note  receivable due in  2007  or  upon  change in
control.  The majority of the sale price, less transaction costs,
was used to pay down debt incurred by the Company for the Britton
acquisition.

Since the acquisition date of Britton, the Company accounted  for
the  Plastics Division as a discontinued operation held for sale.
Therefore,  due to purchase accounting, neither the operation  of
the  Plastics Division nor its disposition has had an  impact  on
the  Company's results of operations.  The Plastics Division  had
net  sales through the date of disposition for the second quarter
and  six  months  ended June 30, 1998 of $8.1 million  and  $40.9
million,  respectively.  The Company allocated $0.8  million  and
$1.8  million of interest expense to the Plastics Division during
the   second  quarter  and  six  months  ended  June  30,   1998,
respectively.

Golden Aluminum Company

In  1996, the Board of Directors adopted a plan to dispose of the
Company's  aluminum  rigid container sheet business  operated  by
Golden  Aluminum Company.  In March of 1997, the sale  of  Golden
Aluminum was completed for $70 million, of which $10 million  was
paid  at  closing  and $60 million is due on or before  March  1,
1999.   In  accordance with the purchase agreement, the purchaser
has  the right to return Golden Aluminum to the Company prior  to
March  1,  1999 in discharge of the $60 million obligation.   The
initial payment of $10 million is nonrefundable.

Net  sales for Golden Aluminum for the six months ended June  30,
1997  were $38.5 million.  There was no income or loss  from  the
operations of Golden Aluminum in 1997.  The remaining assets  and
liabilities of Golden Aluminum Company at December 31,  1997  are
included  in  other  current  assets  and  consist  primarily  of
accounts receivable, partially offset by accounts payable.  There
are  no  net assets of Golden Aluminum included in the  June  30,
1998 balance sheet.  The consolidated statement of cash flows has
not  been restated for the discontinued operation and, therefore,
includes   sources  and  uses  of  cash  for  Golden   Aluminum's
operations.


Note 3.  Asset Impairment and Restructuring Charges

1998 Asset Impairment Charges

During  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  segment  recorded  a  $1.0  million  asset
impairment charge to adjust its long-lived assets associated with
the solar electric systems distributor located in Argentina to an
amount  that  can be realized through estimated future  operating
cash flows.

1997 Restructuring Charges

The  Company  recorded a total of $5.3 million  in  restructuring
charges in 1997.  The following table summarizes accruals related
to the restructuring charges for 1997:



                                                                    
                                       Corn                     
                     Biodegradable    Syrup        Graphic        
                          Polymers     Exit      Packaging       
(In thousands)           Exit Plan     Plan   Headquarters    Total
-----------------    -------------   ------   ------------   ------
Balance,                                                            
  December 31, 1997           $438     $882         $1,660   $2,980

Cash paid                     (345)    (290)        (1,275)  (1,910)
                     -------------   ------   ------------   ------
Balance,
  June 30, 1998                $93     $592           $385   $1,070
                     =============   ======   ============   ======



Note 4.  Comprehensive Income

Statement  of  Financial Accounting Standards ("SFAS")  No.  130,
"Reporting  Comprehensive Income," was issued in  June  1997  and
adopted  by  the  Company in the first  quarter  of  1998.   This
statement establishes standards for the reporting and display  of
comprehensive  income  in  financial  statements.   Comprehensive
income is generally defined as the change in equity of a business
enterprise  during the period from transactions and other  events
and  circumstances  from nonowner sources.  The  Company's  total
comprehensive  income  consists of net  income  reported  in  the
consolidated  income  statement  and  certain  foreign   currency
translation adjustments.


Note 5.  Adoption of New Accounting Standards

SFAS  No. 133, "Accounting for Derivative Instruments and Hedging
Activities," was issued in June 1998.  This statement establishes
accounting and reporting standards for derivative instruments and
for hedging activities.  It requires that an entity recognize all
derivatives  as either assets or liabilities in the statement  of
financial  position and measure those instruments at fair  value.
This   statement   is  effective  for  the  Company's   financial
statements for the year ended December 31, 2000 and the  adoption
of this standard is not expected to have a material effect on the
Company's financial statements.

SFAS  No.  132, "Employers' Disclosures about Pensions and  Other
Postretirement  Benefits," was issued  in  February  1998.   This
statement  revises the disclosure requirement  for  pensions  and
other  postretirement benefits.  This statement is effective  for
the  Company's  financial statements for the year ended  December
31,  1998  and the adoption of this standard is not  expected  to
have a material effect on the Company's financial statements.

SFAS  No.  131, "Disclosures about Segments of an Enterprise  and
Related  Information," was issued in June 1997.   This  statement
establishes  standards  for the way public  business  enterprises
report information about operating segments.  It also establishes
standards  for  related disclosure about products  and  services,
geographical  areas  and  major  customers.   This  statement  is
effective  for the Company's financial statements  for  the  year
ended December 31, 1998 and the adoption of this standard is  not
expected  to  have  a material effect on the Company's  financial
statements.


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

General Business Overview

The operations of ACX Technologies, Inc. (the Company) consist of
two  primary  business  segments, Graphic  Packaging  Corporation
(Graphic  Packaging) and Coors Ceramics Company (Coors Ceramics).
Graphic  Packaging  produces high-value consumer  and  industrial
flexible  packaging  and  folding cartons  while  Coors  Ceramics
manufactures  advanced  technical ceramic  and  other  engineered
materials.   In  addition  to  its primary  business  units,  the
Company  owns  a  majority interest in a group of solar  electric
distribution  companies,  including  Golden  Genesis  Company,  a
publicly  traded company on NASDAQ.  Prior to 1998,  the  Company
operated several technology-based developmental business  through
Golden  Technologies Company, Inc.  The Company is in the process
of winding down these developmental businesses.

On  January  14,  1998, the Company acquired  Britton  Group  plc
(Britton),  an international packaging company operating  through
two  principal  divisions:  folding cartons  and  plastics.   The
folding   cartons   division,  Universal  Packaging   Corporation
(Universal Packaging) is a nonintegrated manufacturer of  folding
cartons  in  the  United  States.  The Plastics  Division,  which
operates  in  the  United Kingdom, has been accounted  for  as  a
discontinued  operation since the acquisition  and  was  sold  on
April 20, 1998 for pounds 82 million ($135 million).

Results from Continuing Operations

Consolidated net sales for the three months ended June  30,  1998
were  $257.3  million, an increase of $70.5  million,  or  37.8%,
compared to the similar 1997 period.  Consolidated net sales  for
the  six  months  ended  June 30, 1998 were  $494.1  million,  an
increase  of  $133.8 million, or 37.1%, compared to  the  similar
1997 period.  Both period increases are primarily attributable to
the  additional sales related to the January 14, 1998 acquisition
of  Universal  Packaging.   Increased  sales  at  Coors  Ceramics
resulting  from  the acquisition of Tetrafluor,  Inc.  in  August
1997,   along   with  stronger  sales  to  the  beverage   valve,
petrochemical, and automotive industries also contributed to  the
increases  in  consolidated net sales.  Increased sales  in  both
periods  of  the  Solar Electric segment were  mostly  offset  by
decreased sales in the Other segment as a result of the Company's
1997 decision to exit its developmental businesses.

Consolidated  gross margin was 20.6% for the second  quarter  and
six  months ended June 30, 1998 compared to 24.8% and  24.4%  for
the  similar  1997 periods, respectively.  The lower consolidated
gross  margins  resulted  from  margin  declines  at  both  Coors
Ceramics and Graphic Packaging, primarily due to increased  price
competition and lower comparative margins at Universal Packaging,
which was acquired in January 1998.

For the second quarter of 1998, consolidated operating income was
$25.9  million,  an  increase of $8.0  million  compared  to  the
similar  1997  period.  This improvement primarily resulted  from
the  January 1998 acquisition of Universal Packaging and  reduced
losses  in  both  the Solar Electric and Other  segments.   These
increases were offset by a decline in operating income  at  Coors
Ceramics  due primarily to currency-influenced pricing  pressures
and reduced sales to the semiconductor industry.

For the six months ended June 30, 1998 operating income was $39.5
million, an increase of $8.9 million compared to the similar 1997
period.   Again,  this improvement primarily  resulted  from  the
January  1998  acquisition  of Universal  Packaging  and  reduced
losses  in both the Solar Electric and Other segments, offset  by
$7.2  million in asset impairment charges recorded in  the  first
quarter of 1998, primarily related to Coors Ceramics' termination
of its C-4 technology agreement with IBM.

Net  interest expense was $5.3 million for the second quarter  of
1998,  compared to $0.6 million for the second quarter  of  1997.
Net  interest  expense was $9.6 million for the six month  period
ended  June  30, 1998, compared to $1.8 million for  the  similar
1997  period.   The  increases  are  the  result  of  acquisition
financing and debt assumed in the Britton purchase.

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. The  Company  has
access  to  an  unsecured $150 million revolving credit  facility
that  expires  on  January 8, 1999 and a $175  million  unsecured
revolving credit facility that expires on November 30, 1998.

During   the   first  quarter  of  1998,  the  Company   borrowed
approximately $276 million under its credit facilities to finance
the  Britton  acquisition.  In conjunction with that transaction,
the Company also assumed an additional $92.5 million in debt.  On
April  20,  1998,  the Company completed the  sale  of  Britton's
Plastics  Division for approximately $135 million.  The  majority
of  the  proceeds of this sale were used to pay down  debt.   The
Company  is  in  the process of reviewing its debt structure  and
believes it has adequate sources of funds to refinance its short-
term debt under reasonable terms and interest rates prior to  the
expiration  of its credit facilities.  In addition,  the  Company
has  entered into contracts to hedge the underlying interest rate
on $175 million of anticipated long-term borrowings at an average
risk-free  rate  of approximately 5.78%.  The  hedges  expire  on
November 1, 1999.  The Company has accounted for the contracts as
hedges  of  an anticipatory borrowing and as such, the  contracts
are  not  marked  to market and any gain or loss upon  settlement
will be netted with the underlying cost of borrowing.

Net  cash generated from operations for the six months ended June
30, 1998 was $31.3 million compared to $69.7 million generated in
the six months ended June 30, 1997.  The 1997 period included the
partial  liquidation of the working capital  of  Golden  Aluminum
Company.

Year 2000

Management  has initiated an enterprise-wide program  to  prepare
the Company's financial, manufacturing and other critical systems
and  applications  for the year 2000.  The program  involves  the
Company's  upper management as well as project leaders from  each
of  the Company's business segments.  The focus of the program is
to  identify affected software and hardware, develop  a  plan  to
correct  that  software or hardware in the most effective  manner
and  implement and monitor that plan.  The program also  includes
communications  with  the  Company's  significant  suppliers  and
customers  to  determine  the extent  to  which  the  Company  is
vulnerable  to  any  failures by them to address  the  Year  2000
issue.   Although the Company's Year 2000 program is  in  various
stages  of  completion across its business segments, the  Company
anticipates  it  will have all modifications and replacements  in
place before the end of 1999.  However, at this time, the Company
is  not  able to determine the estimated impact on the operations
of  the Company should it or one of its suppliers or customers be
unable to successfully address the Year 2000 issue.

The  Company  expects to incur internal staff costs  as  well  as
consulting  and other expenses related to the year 2000  project.
In addition, the Company will replace certain older software with
new  programs  and systems.  Some of these upgrades  will  be  in
response to the Year 2000 issue, however, many upgrades are  part
of  the  Company's normal business plan.  Given  the  information
available at this time, management currently anticipates that the
cost  to  address the Year 2000 issue should not have a  material
adverse   effect  on  the  Company's  liquidity  or  results   of
operations.  However, the Company continues to gather information
regarding  the  total  estimated  costs  and  there  can  be   no
assurances that these costs will not be material.


Segment Information

Second Quarter Only
(In thousands)

                                                     Operating
                            Net Sales               Income (Loss)
                          1998       1997          1998       1997
                      --------   --------      --------   --------
Coors Ceramics        $ 79,422   $ 75,011      $ 11,596   $ 12,789
Graphic Packaging      162,497     97,247        17,478     11,211
Solar Electric          11,838      9,453          (553)    (1,490)
Other                    3,569      5,066        (2,615)    (4,571)
                     ---------   --------      --------   --------
                      $257,326   $186,777      $ 25,906   $ 17,939
                     =========   ========      ========   ========

Second Quarter - Year to Date
(In thousands)

                                                     Operating
                            Net Sales              Income (Loss)
                          1998       1997         1998       1997
                      --------   --------     --------   -------- 
Coors Ceramics        $160,367   $146,427     $ 17,173   $ 24,237
Graphic Packaging      302,033    183,084       30,831     19,159
Solar Electric          23,855     17,292       (3,207)    (2,817)
Other                    7,804     13,432       (5,331)   (10,018)
                      --------   --------     --------   --------
                      $494,059   $360,235     $ 39,466   $ 30,561
                      ========   ========     ========   ========



COORS CERAMICS

Coors Ceramics' second quarter 1998 net sales were $79.4 million,
an  increase  of $4.4 million, or 5.9%, compared to  the  similar
1997  period.   Net sales for the first six months of  1998  were
$160.4  million, an increase of $13.9 million, or 9.5%,  compared
to  the similar 1997 period.  Increased sales resulting from  the
acquisition  of  Tetrafluor,  Inc. in  August  1997,  along  with
stronger   sales  to  the  beverage  valve,  petrochemical,   and
automotive  industries  were  the  primary  contributors  to  the
increases in net sales for both periods.

Second  quarter  1998  operating  income  was  $11.6  million,  a
decrease  of $1.2 million, or 9.3%, compared to the similar  1997
period.  Operating margin was 14.6% for the second quarter  1998,
compared  to 17.0% for the second quarter of 1997.  The decreases
in   operating   income  and  operating  margin   are   primarily
attributable to currency-influenced price competition and a less-
favorable product mix.

Operating  income  for the first six months  of  1998  was  $17.2
million, a decrease of $7.1 million compared to the similar  1997
period.   The  first half of 1998 included 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 the termination
of  the agreement and write off the long-lived assets related  to
this  project.   Excluding the impact of this  charge,  operating
income decreased $831,000, or 3.4%, over the first half of  1997.
Operating  margins, excluding the asset impairment  charge,  were
14.6%  compared to 16.6% in the first half of 1997.  The decrease
in  operating  income  and operating margin  is  attributable  to
currency-influenced price competition and product mix.

The  Company  expects  continued  pricing  pressures  in  certain
product lines, along with continued softness in the semiconductor
industry,  to  impact  Coors  Ceramics  throughout  1998.   Coors
Ceramics  continues  to  focus  on  growth  through  new  product
development, expanding market share in its current product  lines
and  the  addition  of  new materials to  its  product  mix.   In
addition, Coors Ceramics is in the process of formulating a  plan
to improve plant efficiencies and capacity utilization, including
a  review of plant consolidation recommendations and a management
realignment.  Decisions regarding these proposals are expected to
be made during the 1998 third quarter and could result in charges
to affect any such changes.


GRAPHIC PACKAGING

Graphic  Packaging's second quarter 1998 net  sales  were  $162.5
million, an increase of $65.3 million, or 67.1%, compared to  the
similar 1997 period.  Net sales for the first six months of  1998
were  $302.0  million, an increase of $118.9 million,  or  65.0%,
compared to the similar 1997 period.  Both period increases  were
primarily  attributable to the acquisition of Universal Packaging
which  participates  in  the dry and  frozen  food  markets.   In
addition, increased sales to the snack food and beverage  markets
were  reported in both periods, offset partially by  declines  in
the  pet  food  and  tobacco industries.  Certain  sales  to  the
tobacco industry were lost to offshore suppliers.

Second  quarter  1998  operating income  was  $17.5  million,  an
increase of $6.3 million, or 55.9%, compared to the similar  1997
period.  This increase was primarily attributable to the addition
of   Universal  Packaging,  cost  savings  realized  by   Graphic
Packaging's corporate headquarters relocation to Colorado in  the
fourth  quarter of 1997 and from increased sales of higher margin
specialty cartons.  Operating margin decreased to 10.8%  for  the
second  quarter of 1998, compared to 11.5% for the second quarter
of  1997,  primarily  related  to the  anticipated  lower  margin
business  of  Universal  Packaging and  the  additional  goodwill
amortization associated with the acquisition.

Operating income for the first half of 1998 was $30.8 million, an
increase of $11.7 million, or 60.9%, compared to the similar 1997
period.    The   increase  in  operating  income  was   primarily
attributable   to  the  addition  of  Universal  Packaging.    In
addition,  cost savings realized by Graphic Packaging's corporate
headquarters relocation to Colorado in the fourth quarter of 1997
contributed  to the increase in operating income  for  the  first
half of 1998.  Operating margin remained relatively flat at 10.2%
for  the  first half of 1998, compared to 10.5% for  the  similar
1997 period.

Management continues to work to develop synergies between Graphic
Packaging  and  Universal  Packaging  in  the  areas  of   sales,
purchasing, and administration and expects to realize  additional
financial  advantages  in  the  future.   In  addition,   Graphic
Packaging  continues  to  evaluate opportunities  to  expand  its
business  with  new and existing customers, as  well  as  through
strategic acquisition opportunities.

SOLAR ELECTRIC

The  Company's  Solar  Electric  business  segment  includes  its
majority  interest in Golden Genesis Company (formerly Photocomm,
Inc.)  and  its  investments in solar  electric  distributors  in
Argentina and Brazil.  Solar Electric's net sales for the  second
quarter  were  $11.8  million, an increase of  $2.4  million,  or
25.2%,  compared to the second quarter of 1997.   For  the  first
half  of 1998, net sales were $23.9 million, an increase of  $6.6
million,  or  38.0%, compared to the similar  1997  period.   The
completion of large telecommunications and power projects in  the
Middle  East and Africa, along with Golden Genesis' January  1998
acquisition of Utility Power Group, contributed to the  increased
sales in both periods.

Operating  loss  for the 1998 second quarter  was  $553  thousand
compared  with an operating loss of $1.5 million for the  similar
1997  period.   The  decrease  in  operating  loss  is  primarily
attributable  to settlement charges recorded in 1997,  which  did
not  recur  in  the  current quarter.   In  addition,  the  Solar
Electric  segment  has begun to realize cost  savings  associated
with  Golden  Genesis' efforts to consolidate its  manufacturing,
marketing, and administrative functions.

Operating  loss  for  the first half of 1998  was  $3.2  million,
compared  with an operating loss of $2.8 million for the  similar
1997  period.   The first half of 1998 includes a  first  quarter
$1.0 million asset impairment charge related to Solartec, S.A., a
solar   electric  distributor  in  Argentina.   Since   acquiring
Solartec  in November 1996, operating cash flows have been  below
original  expectations.   As a result, the  Company  recorded  an
impairment  charge to reduce the carrying value of its long-lived
assets to an amount that can be realized through estimated future
operating  cash  flows.  In addition, operating  income  for  the
first  half  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.   Offsetting   these
declines,  the Solar Electric segment has begun to  realize  cost
savings  associated with Golden Genesis' efforts  to  consolidate
its manufacturing, marketing, and administrative functions.

OTHER

The Company's remaining developmental business operated by Golden
Technologies, along with the Company's corporate costs,  comprise
the  Other  segment.   Net  sales for  the  1998  second  quarter
decreased $1.5 million, compared to the similar 1997 period.  Net
sales for the first half of 1998 decreased $5.6 million, compared
to   the  similar  1997  period.   These  decreases  reflect  the
Company's  1997  decision to exit certain activities  within  the
developmental  businesses,  primarily  the  production  of  high-
fructose corn syrup.

Operating  loss for the second quarter of 1998 was $2.6  million,
compared  to $4.6 million for the similar 1997 period.  Operating
loss  for  the first half of 1998 was $5.3 million,  compared  to
$10.0 million for the first half of 1997.  The decrease in losses
in  both periods is the result of the Company's strategy to  exit
the  developmental businesses.  In addition, the 1997 first  half
also  includes $2.3 million in restructuring charges  related  to
the  Company's  decision  to exit the  high-fructose  corn  syrup
business

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," "trends" 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,  pulp  and
paper,  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  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 identify  and  maximize
efficiencies  between  Graphic Packaging  and  the  companies  it
acquires and successfully merge the corporate cultures; (ix)  the
ability  of the Company to successfully execute its developmental
business  exit strategies; and  (x) 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, 1997.  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  three and six month periods ended June 30, 1998, may not  be
indicative  of results that may be expected for the  year  ending
December   31,   1998.    Certain  1997  information   has   been
reclassified to conform to the 1998 presentation.

                                
                   PART II.  OTHER INFORMATION

Item 4.  Submission of Matters to a Vote of Security Holders

The following matters were submitted to a vote of shareholders of
the Company at the Annual Meeting of Shareholders held May 12,
1998.
     
     a)  The following members were elected to the Board of Directors
         to hold office for a three year term:
     
     Nominee              Shares Voted      Shares         Term
                              For          Withheld       Expires
      
     Jeffrey H. Coors      26,499,717       26,485         2001
     John H. Mullin, III   26,499,689       26,513         2001
     James K. Peterson     26,499,621       26,581         2001
     
     The terms of office of the Company's other directors
     continuing after the Annual Meeting, are as follows:
     
                           Term
                          Expires
     
     Joseph Coors, Jr.     1999
     Richard P. Godwin     1999
     John Hoyt Stookey     1999
     John D. Beckett       2000
     John K. Coors         2000
     William K. Coors      2000
     

Item 6.   Exhibits and Reports on Form 8-K

(a)  Exhibits:

Exhibit
Number              Document Description

2.1       Recommended Cash Offers by Baring Brothers
          International  Limited on behalf  of  ACX  (UK)
          Limited,  a  wholly  owned  subsidiary  of  ACX
          Technologies,  Inc.  for  Britton  Group   plc.
          (Incorporated by reference to Exhibit 2 to Form
          8-K filed on January 29, 1998)
3.1       Articles of Incorporation of  Registrant.
          (Incorporated  by reference to Exhibit  3.1  to
          Form  10 filed on October 6, 1992, file No.
          0-20704)
3.1A      Articles of Amendment to Articles of
          Incorporation  of Registrant. (Incorporated  by
          reference  to Exhibit 3.1A to Form 8  filed  on
          December 3, 1992, file No. 0-20704)
3.2       Bylaws   of  Registrant,   as   amended.
          (Incorporated  by reference to Exhibit  3.2  to
          Form 10-Q filed on November 7, 1996, file No. 0-
          20704)
4         Form of Stock Certificate of Common Stock.
          (Incorporated by reference to Exhibit 4 to Form
          10-K filed on March 7, 1996, file No. 0-20704)

(b)  Reports on Form 8-K

     A report on Form 8-K was filed on May 1, 1998
     announcing that the Company had sold the Plastics
     Division of Britton Group on April 20, 1998.
                                
                                

                           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: August 5, 1998             By /s/Jed J. Burnham
                                 ------------------------------
                                 Jed J. Burnham
                                 (Chief Financial Officer and
                                  Treasurer)

Date: August 5, 1998             By /s/Beth A. Parish
                                 ------------------------------
                                 Beth A. Parish
                                 (Controller and Principal
                                  Accounting Officer)