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 March 31, 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             (I.R.S. Employer
     of incorporation or                Identification No.)
        organization)

 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 28,541,897 shares of common stock outstanding  as  of
May 1, 1998.


                                
                 PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

                    ACX TECHNOLOGIES, INC.
                 CONSOLIDATED INCOME STATEMENT
                        (In thousands)
                                                            

                                          Three months ended
                                                March 31,
                                            1998         1997   
                                         --------    --------
Net sales                                $236,733    $173,458  
                                                             
Costs and expenses:                                           
  Cost of goods sold                      188,065     131,860  
  Selling, general and administrative      25,919      22,779  
  Research and development                  1,951       3,917  
  Asset impairment and restructuring        7,238       2,280  
                                         --------    --------
    Total operating expenses              223,173     160,836  
                                         --------    --------
                                                             
Operating income                           13,560      12,622  
                                                             
Other income (expense) - net                 (147)         26  
Interest expense - net                     (4,374)     (1,155) 
                                         --------    --------
Income from continuing operations                            
  before income taxes                       9,039      11,493

Income tax expense                          3,600       4,700  
                                         --------    --------
Income from continuing operations           5,439       6,793  
                                                             
Discontinued operations                                      
Income/(loss) from discontinued                              
  operations of Britton Group Plastics        ---         ---
                                         --------    --------
Net income                               $  5,439    $  6,793  
                                         ========    ========
                                                             
Total comprehensive income (See Note 4)  $  5,764    $  5,478  
                                         ========    ========
Net income per basic share of                         
common stock:
                                                      
     Continuing operations               $   0.19    $   0.24
                                                      
     Discontinued operations                  ---         ---
                                         --------    --------
Net income per basic share               $   0.19    $   0.24
                                         ========    ========

Weighted average shares                               
  outstanding - Basic                      28,425      27,964
                                         ========    ========
                                                      
Net income per diluted share of                       
common stock:
                                                      
     Continuing operations               $   0.19    $   0.24
                                                      
     Discontinued operations                  ---         ---
                                         --------    --------
Net income per diluted share             $   0.19    $   0.24
                                         ========    ========
Weighted average shares                               
  outstanding - Diluted                    29,134      28,599
                                         ========    ========

See Notes to Consolidated Financial Statements



                  ACX TECHNOLOGIES, INC.
                CONSOLIDATED BALANCE SHEET
                      (In thousands)
                                                 
                                    March 31,   December 31,
                                        1998           1997
                                  ----------    -----------
ASSETS                                         
Current assets:                                            
  Cash and cash equivalents       $   27,169     $   49,355
  Accounts receivable                102,683         81,359
  Inventories:                                             
    Finished                          63,829         48,607
    In process                        41,546         34,754
    Raw materials                     47,807         30,431
                                  ----------     ----------
       Total inventories             153,182        113,792
  Deferred tax asset                  11,338         10,946
  Other assets                        10,566         14,188
  Net current assets of                                    
    discontinued operations           36,154            372
                                  ----------     ----------
    Total current assets             341,092        270,012
                                  ----------     ----------
Properties at cost less
  accumulated depreciation of
  $333,268 in 1998 and $243,946
  in 1997                            374,271        249,624
Notes receivable                      57,353         56,549
Goodwill, net                        221,110         56,883
Other assets                          28,286         68,128
Net noncurrent assets of                                   
  discontinued operations             89,895            ---
                                  ----------     ----------
Total assets                      $1,112,007     $  701,196
                                  ==========     ==========

LIABILITIES AND SHAREHOLDERS'
EQUITY
                                                           
Short-term debt                   $  290,450     $      ---
Other current liabilities            141,225        111,461
                                  ----------     ----------
Total current liabilities            431,675        111,461
                                                           
Long-term debt                       183,000        100,000
Accrued postretirement benefits       27,155         27,453
Other long-term liabilities           18,589         18,838
                                  ----------     ----------
  Total liabilities                  660,419        257,752
Minority interest                     13,392         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 28,529,000 and 28,373,000                              
  issued and outstanding at March                            
  31, 1998, and December 31, 1997        285            284
Paid-in capital                      453,192        451,336
Retained earnings                    (14,116)       (19,555)
Cumulative translation                                     
  adjustment and other                (1,165)        (1,534)
                                   ---------     ----------
  Total shareholders' equity         438,196        430,531
                                   ---------     ----------
Total liabilities and                                      
shareholders' equity              $1,112,007     $  701,196
                                  ==========     ==========
                                                            
See Notes to Consolidated Financial Statements

                                
                                
                 ACX TECHNOLOGIES, INC.
          CONSOLIDATED STATEMENT OF CASH FLOWS
                     (In thousands)
                                                         
                                      Three months ended
                                            March 31,
                                       1998          1997
                                     --------------------
Cash flows from operating                                
activities:
  Net income                         $ 5,439      $ 6,793
  Adjustments to reconcile net                           
    income to net cash provided
    by operating activities:
      Asset impairment and                               
        restructuring                  7,238        2,280
      Depreciation and                                   
        amortization                  13,772       10,482
      Change in deferred income                          
        taxes                            659       16,137
      Change in accrued                                  
        postretirement benefits         (298)         649
      Change in current assets                           
        and current liabilities      (17,308)     (22,494)
      Change in deferred items                           
        and other                       (727)       1,205
                                     -------      -------
      Net cash provided by                               
        operating activities           8,775       15,052
                                     -------      -------
Cash flows used in investing                             
activities:
  Acquisitions, net of cash                              
    acquired                        (295,158)         ---
  Capital expenditures and other     (18,493)      (5,285)
                                    --------      -------
      Net cash used in investing                         
        activities                  (313,651)      (5,285)
                                    --------      -------
Cash flows provided by financing                         
activities:                          282,690          732
                                    --------      -------
Cash and cash equivalents:                               
  Net increase (decrease) in                             
    cash and cash equivalents        (22,186)      10,499
  Balance at beginning of period      49,355       15,671
                                    --------      -------
  Balance at end of period          $ 27,169      $26,170
                                    ========      =======

See Notes to Consolidated Financial Statements
                                

                                
             ACX TECHNOLOGIES, INC. AND SUBSIDIARIES
           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 is an international  packaging
group  operating through two principal divisions: folding cartons
and  plastics.  The folding cartons division, Universal Packaging
Corporation    (Universal   Packaging),   is   a   non-integrated
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.  The Company  has
allocated  approximately $295 million of the  purchase  price  to
Universal  Packaging  and  approximately  $125  million  to   the
Plastics   Division.   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.   The
Plastics  Division has been held for sale since the  acquisition,
and is classified as a discontinued operation in the accompanying
consolidated financial statements.

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 has been accounted for
as  a discontinued operation.  The pro forma information includes
adjustments   for  (1)  amortization  of  goodwill   related   to
continuing  operations recorded pursuant to purchase  accounting,
(2)  increased interest expense related to continuing  operations
due  to new borrowings at applicable rates for the purchase,  (3)
decrease  in interest income related to the assumed use  of  cash
for  the purchase of Britton, and (4) 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.


                                             Three Months Ended
(In thousands, except per share data)          March 31, 1997
                                               --------------
Net Sales                                          $193,973
                                                        
Income from continuing operations                    $4,651
                                                         
Net income per basic share of common stock            $0.17
                                                         
Net income per diluted share of common stock          $0.16



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
sale price,  less  transaction  costs,  will be  used to  pay  down
debt incurred by the Company for the Britton acquisition.

Since  the  January 14, 1998 acquisition of Britton, the  Company
has  accounted  for  the  Plastics  Division  as  a  discontinued
operation  held  for  sale.  Therefore, the  disposition  of  the
Plastics  Division  will  not have an  impact  on  the  Company's
results of operations.  The Plastics Division reported net  sales
for the first quarter of $32.8 million, with break even operating
results.  The Company allocated $1 million of interest expense to
the Plastics Division.

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 the property, plant and equipment to the
Company  prior to March 1, 1999 in discharge of the  $60  million
obligation.   The  initial  payment  of  $10  million   is   non-
refundable.

Net  sales for Golden Aluminum for the first quarter ended  March
31,  1997  were $38.5 million.  There was no income or loss  from
the operations of Golden Aluminum in the 1997 first quarter.  The
remaining  assets and liabilities of Golden Aluminum  Company  at
December 31, 1997 have been separately identified as net  current
assets  of  discontinued operations, which consist  primarily  of
accounts receivable, partially offset by accounts payable.  There
are  no  net assets of Golden Aluminum included in the March  31,
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  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  segment  recorded  a  $1.0  million  asset
impairment charge to write down its investment in Solartec, S.A.,
a solar electric systems distributor located in Argentina.  Since
acquiring  Solartec in November 1996, operating cash  flows  have
been  below  original  expectations.  As a  result,  the  Company
recorded  this  impairment to reduce the carrying  value  of  its
investment in Solartec 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, including $2.3 million in the first quarter  of
1997.   The  following table summarizes accruals related  to  the
restructuring charges for 1997:

                                                                   
                 Biodegradable     Corn        Graphic        
                   Polymer        Syrup      Packaging       
(In thousands)    Exit Plan     Exit Plan   Headquarters    Total
                  -----------   ---------   ------------   ------
Balance,
December 31, 1997        $438        $882         $1,660   $2,980
                                                                   
Cash paid                (314)       (197)        (1,078)  (1,589)
                  -----------   ---------   ------------   ------
Balance,
March 31, 1998           $124        $685           $582   $1,391
                  ===========   =========   ============   ======


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.  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 Photocomm, Inc. 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 non-integrated manufacturer of folding
cartons  in  the  United  States.  The Plastics  Division,  which
operates  in the United Kingdom, was sold on April 20,  1998  for
pounds 82 million ($135 million).

Results from Continuing Operations

Consolidated net sales for the three months ended March 31,  1998
increased $63.3 million, or 36.5% compared to the same period  in
1997.  This increase is attributable to the addition of Universal
Packaging  and  stronger  Ceramics  sales  to  the  semiconductor
processing and petrochemical industries.

Consolidated  gross  margin (gross profit as  a  percent  of  net
sales)  was  20.6%  for first quarter 1998.   This  represents  a
decrease  from  the  24.0% gross margin reported  for  the  first
quarter of 1997.  The lower 1998 first quarter consolidated gross
margin  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  first  quarter of 1998, consolidated  operating  income
increased  $938,000, or 7.4%, to $13.6 million.  This improvement
resulted from the January acquisition of Universal Packaging  and
operating  income growth at Coors Ceramics, partially  offset  by
$7.2   million  in  asset  impairment  charges.   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 unit recorded a $1.0 million asset impairment charge  to
write   down   its  investment  in  its  Argentinean  subsidiary,
Solartec.

Net  interest  expense  increased to $4.4 million  in  the  first
quarter  of 1998, compared to $1.2 million for the first  quarter
of  1997.   The Company incurred additional interest  expense  in
1998   related  to  borrowings  used  to  finance   the   Britton
acquisition  and   interest  charges  on  debt  assumed  in   the
acquisition.

The consolidated effective tax rate for the first quarter of 1998
was  40%,  compared with 41% for the first quarter of  1997.  The
difference  between the 1998 and 1997 first quarters  relates  to
the   Company's  larger  earnings  base  in  1998.   The  primary
difference between the 1998 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. The  Company  has
access  to  an  unsecured $417 million revolving credit  facility
that expires in on January 8, 1999.  During the first quarter  of
1998, the Company also established a 364 day $75 million line  of
credit.

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  proceeds
of  this  sale, less transaction costs, will be 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.

Net  cash generated from operations for the first quarter of 1998
was $8.8 million compared to $15.1 million generated in the first
quarter  of 1997.  The first quarter of 1997 included the partial
liquidation  of  the working capital of Golden Aluminum  Company.
The  Company used $313.7 million in investing activities  in  the
first  quarter  of 1998 for the Britton acquisition  and  capital
expenditures of approximately $19 million.  This compares to $5.3
million  in  investing activities in the first quarter  of  1997.
The  1997  spending consisted of capital expenditures,  partially
offset  by  $10  million  of proceeds from  the  sale  of  Golden
Aluminum Company.

Year 2000

Management  has initiated an enterprise-wide program  to  prepare
the Company's computer and manufacturing systems and applications
for  the year 2000.  The Company expects to incur internal  staff
costs  as  well as consulting and other expenses related  to  the
year  2000 project.   At this point, the Company is not  able  to
determine  the estimated cost for its year 2000 project  and,  if
unresolved,  whether  the year 2000 issue will  have  a  material
impact on the operations of the Company.

Segment Information

Net sales and operating income for the first quarter 1998 and
1997 are summarized by segment below:



FIRST QUARTER  SEGMENT INFORMATION
(In thousands)

                                                   Operating
                            Net Sales             Income(Loss)
                       ------------------      -----------------
                           1998      1997         1998      1997
                       --------  --------      -------   -------
Coors Ceramics         $ 80,945  $ 71,416      $ 5,577   $11,448
Graphic Packaging       139,536    85,837       13,353     7,948
Solar Electric           12,017     7,839       (2,654)   (1,327)
Other                     4,235     8,366       (2,716)   (5,447)
                       --------  --------      -------   -------
                       $236,733  $173,458      $13,560   $12,622
                       ========  ========      =======   =======


COORS CERAMICS

Coors  Ceramics'  first  quarter 1998  net  sales  totaled  $80.9
million,  an increase of $9.5 million or 13.3% compared to  first
quarter  1998 net sales of $71.4 million. Increased sales volumes
to  the  semiconductor  processing and petrochemical  industries,
along with the August 1997 acquisition of Tetrafluor, a component
fluoropolymer manufacturer, accounted for the sales increase.

Coors Ceramics reported operating income of $5.6 million for  the
first  quarter of 1997, including 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
improved  $367,000,  or  3.2% over first quarter  1997  operating
income  of $11.4 million. Operating margins, excluding the  asset
impairment  charge,  were 14.6% compared to 16.0%  in  the  first
quarter   of   1997.   The  decrease  in  operating  margins   is
attributable to currency-influenced price competition and product
mix.   The Company expects continued pricing pressures in certain
product lines, along with potential 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.


GRAPHIC PACKAGING

Graphic  Packaging reported net sales for the  first  quarter  of
1998  of  $139.5 million, an increase of $53.7 million, or  62.6%
over 1997 first quarter net sales.  This increase is attributable
to  the  January  acquisition  of  Universal  Packaging.  Graphic
Packaging's  1998 first quarter base business net sales  remained
constant compared with the same period in 1997.  Increased  sales
to the snack food and beverage markets were offset by declines in
the  pet  food  and  tobacco industries.  Certain  sales  to  the
tobacco industry were lost to offshore suppliers.

Operating income increased $5.4 million, or 68.0% over 1997 first
quarter   operating   income.   This   increase   was   primarily
attributable  to  the  addition of  Universal  Packaging  and  an
increase  in  base  business operating income of  more  than  6%.
Operating margins improved to 9.6% for the first quarter of  1998
compared with 9.3% in the first quarter of 1997.  The improvement
in  margins reflects synergies achieved between Graphic Packaging
and  Universal  Packaging and cost savings  realized  by  Graphic
Packaging's  corporate headquarters relocation to  Colorado  from
Pennsylvania in the fourth quarter of 1997.  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.

SOLAR ELECTRIC

The  Company's  Solar  Electric  business  segment  includes  its
majority  interest  in Photocomm, Inc., (now  doing  business  as
Golden Genesis) and investments in solar electric distributors in
Argentina  and Brazil.  Solar Electric's net sales for the  first
quarter  totaled $12.0 million, an increase of 53.3% compared  to
the   first   quarter   of  1997.   The   completion   of   large
telecommunications and petrochemical power projects in the Middle
East  and  Africa, along with Golden Genesis' January acquisition
of Utility Power Group, contributed to this increase.

Operating losses for the 1998 first quarter totaled $2.7  million
compared  with  an operating loss of $1.3 million for  the  first
quarter of 1997.  The 1998 quarter includes a $1.0 million  asset
impairment   charge  related  to  the  Company's  investment   in
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  to reduce the  carrying  value  of  its
investment in Solartec to an amount that can 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 $554,000, an improvement from  the  1997
first  quarter operating loss.  This improvement reflects,  among
other  things,  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 line item in the segment table.  Net sales for the 1998
first  quarter  decreased $4.1 million, or 49.4%, from  the  same
quarter  in 1997.  This decrease reflects the Company's  decision
to  wind  down the developmental businesses.  The operating  loss
for  the first quarter of 1998 was $2.7 million compared to  1997
first  quarter operating loss of $5.4 million.  The developmental
businesses  contributed $311,000 to the 1998  first  quarter  net
loss,  while corporate costs totaled $2.4 million.  This compares
to  the 1997 first quarter operating loss of $3.4 million for the
developmental  businesses, with $2.0 million in corporate  costs.
The decreased losses associated with the developmental businesses
reflect  the  Company's strategy to exit these  businesses.   The
1997  first quarter operating loss 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," 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 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 Universal Packaging and successfully  merge
two  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 first quarter ended March 31, 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.

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 January 29, 1998
   announcing that the Company had acquired control of
   Britton on January 14, 1998.
   
   A report on Form 8-KA was filed on March 27, 1998
   including financial statements and pro forma
   information regarding the Britton acquisition.


                           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 11, 1998               By /s/Jed J. Burnham
                                 ------------------------------
                                 Jed J. Burnham
                                 (Chief Financial Officer
                                  and Treasurer)

Date: May 11, 1998               By /s/Beth A. Parish
                                 ------------------------------
                                 Beth A. Parish
                                 (Controller and Principal
                                  Accounting Officer)