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, 1997
                                
                               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              (I.R.S. Employer
of 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 28,134,356 shares of common stock outstanding as of
August 6, 1997.

                                
                 PART I.  FINANCIAL INFORMATION
                                
Item 1.  Financial Statements

                           ACX TECHNOLOGIES, INC.
                        CONSOLIDATED INCOME STATEMENT
                    (In thousands, except per share data)
                                                                 
                                   Three months            Six months
                                       ended                 ended
                                      June 30,              June 30,
                                  1997       1996       1997        1996
                               --------------------   --------------------
Net sales                      $186,777    $183,987   $360,235    $361,125
                                                                       
Costs and expenses:                                                    
  Cost of goods sold            140,370     142,585    272,230     281,063
  Marketing, general and                                               
    administrative               23,969      19,507     46,748      39,095
  Research and development        4,499       3,771      8,416       7,394
  Restructuring                      --          --      2,280          --
                                -------     -------    -------     -------
    Total operating expenses    168,838     165,863    329,674     327,552
                                -------     -------    -------     -------
Operating income                 17,939      18,124     30,561      33,573
                                                                       
Other income - net                  260          24        286          41
Interest expense - net             (610)     (2,182)    (1,765)     (3,788)
                                -------     -------    -------     -------
Income from continuing                                                 
  operations before                                                      
  income taxes                   17,589      15,966     29,082      29,826
Income tax expense                7,150       6,200     11,850      11,900
                                -------     -------    -------     ------- 
Income from continuing                                                 
  operations                     10,439       9,766     17,232      17,926
                                -------     -------    -------     -------
Discontinued operations:                                               
Loss from discontinued                                                 
  operations of Golden
  Aluminum Company                   --          --         --      (5,033)
                                                                       
Loss on disposal of Golden                                             
  Aluminum Company                   --          --         --     (70,000)
                                -------     -------    -------    --------
Net income (loss)               $10,439     $ 9,766    $17,232    ($57,107)
                                =======     =======    =======    ========
Net income (loss) per share
  of common stock:
                                                                       
     Continuing operations      $  0.36     $  0.34    $  0.60      $ 0.63
                                                                       
     Discontinued operations         --          --         --       (2.62)
                                -------     -------    -------     -------
Net income (loss) per share     $  0.36     $  0.34    $  0.60     ($ 1.99)
                                =======     =======    =======     =======
Weighted average shares                                                
  outstanding                    28,928      28,813     28,854      28,645
                                =======     =======    =======     =======

See Notes to Consolidated Financial Statements.


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

                                           June 30,     December 31,
                                             1997           1996
                                         ------------   ------------  
ASSETS                                                 
Current assets                                                
Cash and cash equivalents                  $ 67,289       $ 15,671
Accounts receivable                          83,542         71,886
Inventories:                                                  
  Finished                                   50,983         46,312
  In process                                 30,631         28,837
  Raw materials                              28,279         26,371
                                           --------       --------  
Total inventories                           109,893        101,520
                                           --------       -------- 
Deferred tax asset                           11,902         18,218
Other assets                                 24,584         11,571
Net current assets of discontinued                            
  operations                                  2,425         53,052
                                           --------       -------- 
Total current assets                        299,635        271,918
                                                              
Properties at cost less accumulated                           
  depreciation and amortization of                              
  $251,969 in 1997 and $234,248 in 1996     252,583        244,615
Note receivable                              54,583             --
Goodwill, net                                47,027         46,799
Other assets                                 32,656         49,860
Noncurrent assets of discontinued                             
  operations                                     --         63,500
                                           --------       --------
Total assets                               $686,484       $676,692
                                           ========       ========

LIABILITIES AND SHAREHOLDERS' EQUITY                          
Total current liabilities                  $112,129       $117,292
                                                              
Long-term debt                              100,000        100,000
Accrued postretirement benefits              28,784         27,890
Other long-term liabilities                  16,844         19,002
                                           --------       --------
Total liabilities                           257,757        264,184
Minority interest                            13,269         14,605
                                                              
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                             
  28,049,000 and 27,934,000 issued and                          
  outstanding at June 30, 1997, and                             
  December 31, 1996                             280            279
Paid-in capital                             445,208        443,302
Retained earnings                           (30,039)       (47,271)
Cumulative translation adjustment
  and other                                       9          1,593
                                           --------       --------
    Total shareholders' equity              415,458        397,903
                                           --------       --------     
Total liabilities and shareholders'                           
  equity                                   $686,484       $676,692
                                           ========       ========

See Notes to Consolidated Financial Statements.



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

                                             Six months ended
                                                  June 30,
                                             1997         1996
                                          ----------------------
Cash flows from operating activities:                        
  Net income (loss)                       $ 17,232     ($57,107)
  Adjustments to reconcile net income                        
    (loss) to net cash provided by
    (used in) operating activities:
    Loss on disposal of discontinued                       
     operations, net of tax                     --       70,000
    Depreciation and amortization           21,089       24,648
    Change in deferred income taxes         19,523          603
    Change in accrued postretirement                     
      benefits                                 894          493
    Change in current assets and                           
      current liabilities                    8,561      (43,586)
    Change in deferred items and                           
      other                                  2,412         (960)
                                          --------     --------
    Net cash provided by (used in)                         
      operating activities                  69,711       (5,909)

                                                             
Cash flows used in investing activities    (19,932)     (30,986)
Cash flows provided by financing                             
  activities                                 1,839        2,992
                                          --------     --------
Cash and cash equivalents:                                   
  Net increase (decrease) in cash and                        
    cash equivalents                        51,618      (33,903)
  Balance at beginning of period            15,671       52,686
                                          --------     --------
  Balance at end of period                $ 67,289     $ 18,783
                                          ========     ======== 

See Notes to Consolidated Financial Statements.



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

Note 1.  Discontinued Aluminum Operations

On  March  1,  1997, the sale of Golden Aluminum Company  (Golden
Aluminum) was completed for $70 million, of which $10 million was
paid  at  closing and $60 million is due within  two  years.   In
addition,  ACX  Technologies, Inc. (the Company) retained  a  3.6
percent  equity  interest  in  either  Golden  Aluminum  or   the
purchaser  which  increases by 0.3 percent  for  each  month  the
obligation remains unpaid after the one year anniversary  of  the
sale.   In  accordance with the purchase agreement, the purchaser
has  the right to sell Golden Aluminum back to the Company during
the  two  year period in discharge of the $60 million obligation.
The initial payment of $10 million is non-refundable.  Nearly all
of  the working capital of Golden Aluminum, which was not part of
the sales agreement, has been liquidated during the first half of
1997.

Summarized results of discontinued operations are as follows:

                          Three months ended       Six months ended
                                 June 30,               June 30,
                             1997      1996         1997       1996
                          ------------------      ------------------- 
Revenues                   $    --   $38,550      $38,526     $71,243
                           =======   =======      =======     =======
Loss from operations                                               
before income taxes        $    --   $    --      $    --    ($ 8,033)
                                                                   
Income tax benefit              --        --           --       3,000
                           -------   -------      -------     -------
Net loss from operations                                           
                                --        --           --      (5,033)
                           =======   =======      =======     =======

Loss per common share      $    --   $    --      $    --     ($ 0.18)
                           =======   =======      =======     =======
                                                                   
Loss on disposal before                                             
income taxes                    --        --           --     (92,000)
                                                                   
Loss on operations during                                          
  disposition period                                       
  before income taxes           --        --           --     (18,000)
                                                                   
Income tax benefit              --        --           --      40,000
                           -------   -------      -------     -------
Net loss on disposal of                                            
  discontinued operation   $    --   $    --      $    --    ($70,000)
                           =======   =======      =======     =======
                                                                   
Loss per common share      $    --   $    --      $    --    ($  2.44)
                           =======   =======      =======     =======

The historical operating results and the loss on the sale of this
business have been segregated as discontinued operations for  all
periods  presented  in  the consolidated income  statement.   The
remaining  assets  and  liabilities  held  for  sale  have   been
separately  identified  as  net current  assets  of  discontinued
operations,  which consist primarily of accounts  receivable  and
inventory,  partially offset by accounts payable.  The noncurrent
assets  reported  in  the  December 31, 1996  balance  sheet  are
composed  primarily of the fixed assets of Golden Aluminum  which
were  subsequently sold on March 1, 1997.  The non-current  notes
receivable of $54.6 million reported in the June 30, 1997 balance
sheet  represents  the discounted obligation  for  the  remaining
sales  price  of Golden Aluminum.  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 2.  Restructuring Charges

During  the first quarter of 1997, the Company adopted a plan  to
exit the high-fructose corn syrup business and recorded severance
and  exit  costs of $2.3 million in conjunction with  this  plan.
Severance and outplacement costs of $0.9 million were paid in the
second  quarter of 1997 to eliminate approximately  70  positions
held  primarily  by  manufacturing and administrative  employees.
The  remaining  charge  of $1.4 million relates to  various  exit
costs  which  the Company expects to pay during the remainder  of
1997.

During   the  fourth  quarter  of  1996,  the  Company   recorded
restructuring  charges of $2.4 million related to  operations  at
Golden  Technologies.   During the  first  six  months  of  1997,
approximately $0.7 million was paid in cash with respect to  this
charge.  Almost all of the remaining expected cash outlay of $1.3
million is expected to be  paid during the third quarter of 1997.


Note 3.  Adoption of New Accounting Standards

Statement  of  Financial Accounting Standards No. 128,  "Earnings
per  Share", was issued in February, 1997.  The adoption of  this
new  accounting standard, which is required on December 31, 1997,
will  result  in the restatement of earnings per  share  for  all
periods presented.  Based on management's estimates, 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 conducted by Coors Ceramics Company
(Coors  Ceramics)  and  Graphic  Packaging  Corporation  (Graphic
Packaging).   Coors  Ceramics  manufactures  advanced   technical
ceramic  products  while  Graphic Packaging  produces  high-value
consumer  and industrial flexible packaging and folding  cartons.
In  addition to its primary business units, the Company  operates
Golden  Technologies  Company, Inc. (Golden Technologies),  which
includes  operations that assemble and distribute solar  electric
systems   primarily   through  its  majority   owned   subsidiary
Photocomm,  Inc.,  as  well as operations  which  are  developing
biodegradable  polymers and operations that produce  corn  starch
and  other food ingredients.  Prior to 1997, Golden Technologies'
operations  included the manufacture of high-fructose corn  syrup
but  in  early  1997, the Company adopted a  plan  to  exit  this
business.   Effective March 31, 1997, operations at the  corn-wet
milling  facility  have been converted to producing  corn  starch
only.

Until  early  1996, the Company operated Golden Aluminum  Company
(Golden  Aluminum) which produced aluminum flat  rolled  products
primarily  for the aluminum can industry.  In 1996, the Company's
Board  of  Directors adopted a plan to dispose of this  business.
Effective March 1, 1997, the Company sold Golden Aluminum for $70
million, of which $10 million was paid at closing and $60 million
is  due  within  two  years.   In accordance  with  the  purchase
agreement, the purchaser has the right to sell Golden Aluminum to
the  Company during the two year period in discharge of  the  $60
million  obligation.  The initial payment of $10 million is  non-
refundable.  Nearly all of the working capital of Golden Aluminum
on March 1, 1997 of $55 million, which was not part of  the sales
agreement,  has been liquidated during the first  half  of  1997.
The operating results of Golden Aluminum have been classified  as
discontinued   operations   for  all   periods   presented   and,
consequently, the following discussion excludes any  analysis  of
the discontinued operations.


Results from Continuing Operations

Consolidated net sales for the three months ended June 30, 1997,
increased $2.8 million or 1.5 percent to $186.8 million, when
compared to net sales of $184.0 million reported in the second
quarter of 1996.  A 6.0 percent increase in net sales at Graphic
Packaging and a 5.6 percent increase in net sales at Coors
Ceramics gave rise to the consolidated increase.  This growth
resulted in quarterly net sales records for both companies.
Offsetting these increases were reduced sales at Golden
Technologies, which is no longer producing or selling high-
fructose corn syrup.  When compared to the prior year six months
ended June 30, 1996, net sales dropped approximately $900,000 due
to the 1997 first quarter reduction in high-fructose corn syrup
sales and due to lower sales volumes of ceramic components sold
to the semiconductor processing industry.

Consolidated gross margin (gross profit as a percent of net
sales) for the three month period increased from 22.5 percent in
1996 to 24.8 percent in 1997 while the six month period
experienced a similar increase from 22.2 percent in 1996 to 24.4
percent in 1997.  While Coors Ceramics and Graphic Packaging both
contributed to the gross margin improvements over the 1996
results, the elimination of the low margin corn syrup business at
Golden Technologies was the largest contributor to the
improvement in gross margin.

As a percent of sales, marketing, general and administrative
costs increased from approximately 11 percent for the three and
six month periods of 1996 to approximately 13 percent for the
1997 similar periods.  The increase in these costs was primarily
attributable to increased sales activities at all three business
units, including the addition of Photocomm, Inc., which is
included in the Company's financial statements since the November
1996 acquisition of its controlling interest in Photocomm.

For the three months ended June 30, 1997, consolidated operating
income was $17.9 million compared to $18.1 million in the year-
ago second quarter.  Increases in operating income at Coors
Ceramics were offset by additional losses at Golden Technologies,
while Graphic Packaging's 1997 operating results were flat
compared to 1996.  These results include approximately $2 million
of additional charges taken in Graphic Packaging's 1997 second
quarter, related to the disposition of its Linearpak system and
severance costs related to several organizational changes.  For
the six months ended June 30, 1997, consolidated operating income
decreased $3.0 million to $30.6 million compared to the first six
months of 1996.  In addition to the second quarter charges at
Graphic Packaging of $2.0 million, restructuring charges of $2.3
million taken at Golden Technologies during the first quarter
plus additional spending for Golden Technologies' programmable-
life semi-works polymer plant accounts for a majority of this
decrease.

Interest expense - net for the second quarter and first half of
1997 was $0.6 million and $1.8 million, respectively, compared to
$2.2 million and $3.8 million in the 1996 similar periods.
Interest expense - net has been favorably impacted by additional
interest income in 1997 from investments and from imputed
interest on the note receivable received in the sale of Golden
Aluminum.  Cash generated from the sale of Golden Aluminum and
the ensuing working capital liquidation have contributed to the
Company's increase in short-term, interest bearing investments.

The consolidated effective tax rate for second quarter and first
six months of 1997 was 40.7 percent.  The effective tax rate of
the Company is higher than the statutory tax rate of 35 percent
because of state and foreign taxes, deductions that are not
deductible for tax purposes such as the amortization of goodwill,
and the lack of tax benefits from operating losses at the
Company's subsidiaries that are not consolidated for tax
purposes.

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.  Internally
generated liquidity is measured by net cash from operations as
discussed below and working capital.  At June 30, 1997, the
Company's working capital (excluding the net current assets of
the discontinued operation) was $185.1 million with a current
ratio of 2.7 to 1.  The Company considers its working capital
sufficient to meet its anticipated short-term requirements.  For
long-term requirements, the Company has access to a $125 million
unsecured, committed revolving credit facility which was unused
during the first half of 1997.

Net  cash generated by operations for the first half of 1997  was
$69.7 million compared to cash used during the 1996 first half of
$5.9 million.  Contributing to the improved cash position was the
liquidation of Golden Aluminum's working capital, offset in  part
by  the  additional  cash used to fund the operations  of  Golden
Aluminum   through  the  date  of  sale.   Year-to-date   capital
expenditures  for 1997 of $27.2 million net of $10.0  million  in
proceeds from the Golden Aluminum sale accounted for the majority
of the net cash used in investing activities.


Segment Information

Net sales and operating income for the second quarter and six
months of 1997 and 1996 are summarized by segment below:

Second Quarter Only
(In thousands)
                                                    Operating
                            Net Sales              Income(Loss)
                         1997       1996         1997       1996
                       ------------------      ------------------   
Coors Ceramics         $75,011    $71,027      $12,789    $11,947
Graphic Packaging       97,247     91,752       11,211     11,208
Golden Technologies     14,519     21,208       (4,213)    (3,439)
Corporate                   --         --       (1,848)    (1,592)
                      --------   --------      -------    -------
                      $186,777   $183,987      $17,939    $18,124
                      ========   ========      =======    ======= 

Year-To-Date
(In thousands)
                                                    Operating
                            Net Sales              Income(Loss)
                         1997       1996         1997       1996
                      -------------------      -------------------
Coors Ceramics        $146,427   $145,415      $24,237    $24,599
Graphic Packaging      183,084    174,117       19,159     18,764
Golden Technologies     30,724     41,593       (8,994)    (6,109)
Corporate                    -          -       (3,841)    (3,681)
                      --------   --------      -------    -------
                      $360,235   $361,125      $30,561    $33,573
                      ========   ========      =======    ======= 


COORS CERAMICS

Coors Ceramics reported record  net sales of $75.0 million for
the second quarter of 1997, up $4.0 million from 1996 second
quarter net sales of $71.0 million.  Increased volume from the
petrochemical, automotive and telecommunications industries were
primarily responsible for the improvement.  Operating income for
the 1997 second quarter also increased when compared to the 1996
similar period.  The improvement of $0.8 million, or 7.0 percent,
resulted in operating income of $12.8 million for the 1997 second
quarter.  Operating margins for the second quarter grew slightly,
from 16.8 percent in 1996 to 17.0 percent in 1997.

During the first six months of 1997, Coors Ceramics' net sales
increased $1.0 million to $146.4 million from $145.4 million in
the 1996 comparable period.  First half 1997 sales to the
semiconductor processing markets were below the 1996 first six
months due to the slowdown in this industry which began in the
second quarter of 1996.  Offsetting the semiconductor decrease
was improved automotive and pulp and paper volume.  Operating
income for the 1997 year-to-date period declined 1.5 percent to
$24.2 million compared to the 1996 first six months.  Operating
margins also dipped slightly, from 16.9 percent in 1996 to 16.5
percent in 1997.  The lower mix of first half sales to the
semiconductor and telecommunications industries contributed to
these declines.

Coors Ceramics' management continues to focus on manufacturing
efficiencies, strategic acquisitions and broadening its materials
base to continue its upward momentum.  The August 1, 1997
acquisition of the assets of Tetrafluor, Inc. is expected to
bring customer and process synergies to Coors Ceramics.  Looking
ahead to the end of 1997, Coors Ceramics' level of success
continues to depend upon the strength of the U.S. and European
economies, the potential rebound of semiconductor processing and
telecommunications markets and the continued execution of its
advanced materials strategy.


GRAPHIC PACKAGING

Graphic Packaging's 1997 second quarter net sales of $97.2
million increased $5.5 million, or 6.0 percent over 1996 second
quarter net sales.  Nearly all of Graphic Packaging's flexible
operations posted increased sales, primarily related to improved
volumes of confectionery and snack food packaging.  In addition,
the acquisition of the Richmond facility continues to produce
benefits as increased sales to the tobacco industry also
contributed to Graphic Packaging's record quarter.  Second
quarter 1997 operating income was unchanged from the 1996 similar
period at $11.2 million.  However, the 1997 results include an
additional charge of approximately $2.0 million related to the
sale of the Linearpak system and to severance for several
organizational changes.  Excluding this additional charge,
Graphic Packaging reported a 1997 second quarter operating margin
of over 13.5 percent and increased its operating income by more
than 17 percent.  Increased plant utilization at several of the
flexible operations and improved product mix account for the
improved operating performance.

Graphic Packaging reported net sales of $183.1 million for the
first six months of 1997, an increase of $9.0 million or 5.2
percent over the 1996 first half.  Operating income for the 1997
year-to-date period improved $0.4 million to $19.2 million.  Year-
to-date 1997 net sales and operating income improvements came
from additional volume in several markets including tobacco,
confectionery, bakery, snack food and detergent.  Offsetting the
increase in operating income was the additional $2.0 million of
charges taken in the second quarter, noted above.

Management expects Graphic Packaging's results for the remainder
of the year to remain solid, although the favorable product mix
and capacity utilization experienced in the second quarter of
1997 is not expected to continue at the same level on a regular
basis.  In addition, Graphic Packaging results could be impacted
favorably or unfavorably as it continues to face the challenge of
obtaining significant sales volumes to fully utilize new
capabilities and capacity at its Franklin, Ohio facility.


GOLDEN TECHNOLOGIES

Golden Technologies reported net sales for the second quarter of
1997 of $14.5 million compared to the $21.2 million reported in
the year earlier period.  The operating loss for the 1997 second
quarter was $4.2 million compared to the 1996 second quarter
operating loss of $3.4 million.  Reduced sales are the result of
exiting the high-fructose corn syrup business during the first
quarter of 1997, offset in part by the net sales of Photocomm,
Inc., a controlling interest of which was acquired in November
1996.  The increase in operating loss during the 1997 second
quarter relates primarily to additional costs associated with
development activities at Chronopol, Inc., the Company's
programmable-life polymer venture.  The completion and scale-up
of Chronopol's semi-works facility has taken longer than
anticipated.  The Company is currently continuing its
developmental efforts to determine and demonstrate the market
feasibility of the programmable-life polymer, while
simultaneously reviewing alternative strategies to reduce and
limit the ongoing financial impact of this project on the Company
through the end of 1997 and into 1998.

Net sales for the six months ended June 30, 1997, were $30.7
million compared to $41.6 million recorded in 1996.  The
additional sales due to the acquisition of Photocomm, Inc. in
November 1996 were more than offset by the exit of the high-
fructose corn syrup business during the 1997 first quarter.
Operating loss for the first half of 1997 was $9.0 million,
compared to an operating loss of $6.1 million during the 1996
similar period.  Restructuring charges of $2.3 million taken in
the first quarter of 1997 and the additional costs at Chronopol,
Inc., mentioned above, account for the majority of the additional
loss.


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," "focus on," "intend to,"  "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, 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 and  competitors  offering
products  with characteristics similar to the Company's products;
(vi)  changes  in  consumer  buying  habits;  (vii)  governmental
regulation including environmental laws; and (viii) 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, 1996.  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.  All
adjustments made to the interim financial statements presented
are of a normal recurring nature.  The results of operations for
the second quarter and six months ended June 30, 1997, may not be
indicative of results that may be expected for the year ending
December 31, 1997.


                   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 13,
1997.
     
   a)  The following members were elected to the Board of Directors
       to hold office for a three year term:
     
                            Shares          Shares         Term
       Nominee              Voted For       Withheld       Expires
     
       John D. Beckett      25,415,217      73,468         2000
       John K. Coors        25,412,343      76,342         2000
       William K. Coors     25,410,796      77,889         2000
     
       The terms of office of the Company's other directors
       continuing after the Annual Meeting, are as follows:
     
                                Term Expires
     
       Jeffrey H. Coors            1998
       John H. Mullin, III         1998
       Joseph Coors, Jr.           1999
       Richard P. Godwin           1999
       John Hoyt Stookey           1999
     
   b)  The ACX Technologies, Inc. Equity Incentive Plan was amended
       to add incentive stock options to the type of awards that may be
       granted under the Plan and to increase the number of shares
       available under the Plan.  This proposal was approved by a vote
       of 18,279,684 in favor, 4,556,956 against, 251,738 abstentions
       and 2,400,307 broker non-votes.



Item 6.   Exhibits and Reports on Form 8-K

(a)  Exhibits:

     Exhibit
     Number    Document Description

       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)
       10.9*   ACX   Technologies,   Inc.   Equity
               Incentive  Plan, as amended.  (Incorporated  by
               reference  to Exhibit A to the Proxy  Statement
               filed  in  connection with the  May  13,  1997,
               Annual Meeting of Shareholders)
       10.10*  ACX   Technologies,   Inc.   Equity
               Compensation  Plan for Non-Employee  Directors,
               as amended.
       27      Financial Data Schedule

       *  Management  contracts or  compensatory  plans,
          contracts or arrangements required to be filed as an
          Exhibit pursuant to Item 14(c).

(b)  Reports on Form 8-K

     There were no reports filed on Form 8-K during the quarter ended
     June 30, 1997.


                        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 6, 1997             By /s/Jed J. Burnham
                                 -------------------------------
                                 Jed J. Burnham
                                 (Chief Financial Officer and
                                  Treasurer)

Date: August 6, 1997             By /s/Gail A. Constancio
                                 ------------------------------- 
                                 Gail A. Constancio
                                 (Controller and Principal
                                  Accounting Officer)