AMERICAN PACIFIC CORP
SC 13G/A, 2000-03-09
INDUSTRIAL INORGANIC CHEMICALS
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934
                            (Amendment No. 1)<F1>

                         American Pacific Corporation
                    ------------------------------------
                               (Name of Issuer)


                                Common Stock
                     ----------------------------------
                       (Title of Class of Securities)


                                   028740108
                             --------------------
                                 (CUSIP Number)


                               February 29, 2000
                              -------------------

           (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                          [X] Rule 13d-1(b)
                          [ ] Rule 13d-1(c)
                          [ ] Rule 13d-1(d)


<F1> The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).


<PAGE>

- --------------------
CUSIP No.  028740108                 13G
- --------------------

- -------------------------------------------------------------------------------
1   NAME OF REPORTING PERSON
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Artisan Partners Limited Partnership  39-1807188
- -------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<F1>
                                                                         (a)[ ]
    Not Applicable                                                       (b)[ ]

- -------------------------------------------------------------------------------
3   SEC USE ONLY

- -------------------------------------------------------------------------------
4   CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware
- -------------------------------------------------------------------------------
              5   SOLE VOTING POWER
                    None
 NUMBER OF   ------------------------------------------------------------------
   SHARES     6   SHARED VOTING POWER
BENEFICIALLY        1,136,000
  OWNED BY   ------------------------------------------------------------------
    EACH      7   SOLE DISPOSITIVE POWER
 REPORTING          None
   PERSON    ------------------------------------------------------------------
    WITH      8   SHARED DISPOSITIVE POWER
                    1,136,000
- -------------------------------------------------------------------------------
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      1,136,000
- -------------------------------------------------------------------------------
10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
    SHARES<F1>
      Not Applicable
- -------------------------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
      16.05%
- -------------------------------------------------------------------------------
12  TYPE OF REPORTING PERSON<F1>
      IA
- -------------------------------------------------------------------------------

                  <F1> SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

- --------------------
CUSIP No.  028740108                  13G
- --------------------

- -------------------------------------------------------------------------------
1   NAME OF REPORTING PERSON
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Artisan Investment Corporation

- -------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<F1>
                                                                         (a)[ ]
    Not Applicable                                                       (b)[ ]

- -------------------------------------------------------------------------------
3   SEC USE ONLY

- -------------------------------------------------------------------------------
4   CITIZENSHIP OR PLACE OF ORGANIZATION
      Wisconsin
- -------------------------------------------------------------------------------
              5   SOLE VOTING POWER
                    None
 NUMBER OF   ------------------------------------------------------------------
   SHARES     6   SHARED VOTING POWER
BENEFICIALLY        1,136,000
  OWNED BY   ------------------------------------------------------------------
    EACH      7   SOLE DISPOSITIVE POWER
 REPORTING          None
   PERSON    ------------------------------------------------------------------
    WITH      8   SHARED DISPOSITIVE POWER
                    1,136,000
- -------------------------------------------------------------------------------
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      1,136,000
- -------------------------------------------------------------------------------
10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
    SHARES<F1>
      Not Applicable
- -------------------------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
      16.05%
- -------------------------------------------------------------------------------
12  TYPE OF REPORTING PERSON<F1>
      CO
- -------------------------------------------------------------------------------

                  <F1> SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

- --------------------
CUSIP No.  028740108                  13G
- --------------------

- -------------------------------------------------------------------------------
1   NAME OF REPORTING PERSON
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Andrew A. Ziegler
- -------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<F1>
                                                                         (a)[ ]
    Not Applicable                                                       (b)[ ]

- -------------------------------------------------------------------------------
3   SEC USE ONLY

- -------------------------------------------------------------------------------
4   CITIZENSHIP OR PLACE OF ORGANIZATION
      U.S.A.
- -------------------------------------------------------------------------------
              5   SOLE VOTING POWER
                    None
 NUMBER OF   ------------------------------------------------------------------
   SHARES     6   SHARED VOTING POWER
BENEFICIALLY        1,136,000
  OWNED BY   ------------------------------------------------------------------
    EACH      7   SOLE DISPOSITIVE POWER
 REPORTING          None
   PERSON    ------------------------------------------------------------------
    WITH      8   SHARED DISPOSITIVE POWER
                    1,136,000
- -------------------------------------------------------------------------------
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      1,136,000
- -------------------------------------------------------------------------------
10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
    SHARES<F1>
      Not Applicable
- -------------------------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
      16.05%
- -------------------------------------------------------------------------------
12  TYPE OF REPORTING PERSON<F1>
      IN
- -------------------------------------------------------------------------------

                  <F1> SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>

- --------------------
CUSIP No.  028740108                 13G
- --------------------

- -------------------------------------------------------------------------------
1   NAME OF REPORTING PERSON
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Carlene Murphy Ziegler
- -------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<F1>
                                                                         (a)[ ]
      Not Applicable                                                     (b)[ ]

- -------------------------------------------------------------------------------
3   SEC USE ONLY

- -------------------------------------------------------------------------------
4   CITIZENSHIP OR PLACE OF ORGANIZATION
      U.S.A.
- -------------------------------------------------------------------------------
              5   SOLE VOTING POWER
                    None
 NUMBER OF   ------------------------------------------------------------------
   SHARES     6   SHARED VOTING POWER
BENEFICIALLY        1,136,000
  OWNED BY   ------------------------------------------------------------------
    EACH      7   SOLE DISPOSITIVE POWER
 REPORTING          None
   PERSON    ------------------------------------------------------------------
    WITH      8   SHARED DISPOSITIVE POWER
                    1,136,000
- -------------------------------------------------------------------------------
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      1,136,000
- -------------------------------------------------------------------------------
10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
    SHARES<F1>
      Not Applicable
- -------------------------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
      16.05%
- -------------------------------------------------------------------------------
12  TYPE OF REPORTING PERSON<F1>
      IN
- -------------------------------------------------------------------------------

                      <F1>SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>



Item 1(a)      Name of Issuer:

                    American Pacific Corporation

Item 1(b)      Address of Issuer's Principal Executive Offices:

                    3770 Howard Hughes Parkway, Suite 300
                    Las Vegas, NV 89109-0940

Item 2(a)      Name of Person Filing:

                    Artisan Partners Limited Partnership ("Artisan Partners")
                    Artisan Investment Corporation, the general partner of
                         Artisan Partners ("Artisan Corp.")
                    Andrew A. Ziegler
                    Carlene Murphy Ziegler

Item 2(b)      Address of Principal Business Office:

                    Artisan Partners, Artisan Corp., Mr. Ziegler and
                    Ms. Ziegler are all located at:

                    1000 North Water Street, #1770
                    Milwaukee, WI 53202

Item 2(c)      Citizenship:

                    Artisan Partners is a Delaware limited partnership
                    Artisan Corp. is a Wisconsin corporation
                    Mr. Ziegler and Ms. Ziegler are
                    U.S. citizens

Item 2(d)      Title of Class of Securities:

                    Common Stock

Item 2(e)      CUSIP Number:

                    028740108

Item 3         Type of Person:

               (e)  Artisan Partners is an Investment Adviser registered
                    under Section 203 of the Investment Advisers Act of 1940;
                    Artisan Corp. is the General Partner of Artisan Partners;
                    Mr. Ziegler and Ms. Ziegler are the
                    officers and principal stockholders of Artisan Corp.


<PAGE>

Item 4         Ownership (at February 29, 2000):

               (a)  Amount owned "beneficially" within the meaning of rule
                    13d-3:

                       1,136,000

               (b)  Percent of class:

                       16.05% (based on 7,078,637 shares outstanding on
                       January 31, 2000)

               (c)  Number of shares as to which such person has:

                    (i)   sole power to vote or to direct the vote:  None

                    (ii)  shared power to vote or to direct the vote:
                          1,136,000

                    (iii) sole power to dispose or to direct the
                          disposition of: None

                    (iv)  shared power to dispose or to direct disposition
                          of: 1,136,000

               Artisan Partners serves as investment adviser to Artisan Funds,
               Inc., comprised of four series designated Artisan Small Cap Fund,
               Artisan International Fund, Artisan Mid Cap Fund and Artisan
               Small Cap Value Fund (the "Funds"). Various of Artisan Partners'
               limited partners and employees are also officers and directors
               of the Funds, but Artisan Partners does not consider the Funds
               to be controlled by such persons. Although the Funds are not
               controlled by Artisan Partners, pursuant to rule 13d-3(a) the
               shares beneficially owned by a Fund, with respect to which that
               Fund has delegated to Artisan Partners shared voting power and
               shared dispositive power, are considered to be shares
               beneficially owned by Artisan Partners by reason of such
               delegated powers. Other clients of Artisan Partners may own
               shares which are not included in the aggregate number of shares
               reported herein because Artisan Partners does not have or share
               voting or investment power over those shares.

Item 5         Ownership of Five Percent or Less of a Class:

                    Not Applicable

Item 6         Ownership of More than Five Percent on Behalf of Another Person:

                    The shares reported herein have been acquired on behalf of
                    discretionary clients of Artisan Partners.  Persons other
                    than Artisan Partners are entitled to receive all
                    dividends from, and proceeds from the sale of, those
                    shares. None of these persons, to the knowledge
                    of Artisan Partners, Mr. Ziegler or Ms. Ziegler, has an
                    economic interest in more than 5% of the class.

Item 7         Identification and Classification of the Subsidiary Which
               Acquired the Security Being Reported on by the Parent Holding
               Company:

                    Not Applicable

Item 8         Identification and Classification of Members of the Group:

                    Not Applicable

Item 9         Notice of Dissolution of Group:

                    Not Applicable


<PAGE>

Item 10        Certification:

                    By signing below I certify that, to the best of my knowledge
                    and belief, the securities referred to above were acquired
                    and held in the ordinary course of business and were not
                    acquired and are not held for the purpose of or with the
                    effect of changing or influencing the control of the issuer
                    of the securities and were not acquired and are not held
                    in connection with or as a participant in any transaction
                    having that purpose or effect.

<PAGE>

                                   Signature
                                  -----------

  After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Date:  March 9, 2000



                    ARTISAN INVESTMENT CORPORATION
                       for itself and as general partner of
                       ARTISAN PARTNERS LIMITED PARTNERSHIP

                    By: /s/ Andrew A. Ziegler
                        ---------------------
                        Andrew A. Ziegler
                        President

                        ANDREW A. ZIEGLER

                        /s/ Andrew A. Ziegler
                        ---------------------

                        CARLENE MURPHY ZIEGLER

                        /s/ Carlene Murphy Ziegler
                        --------------------------



<PAGE>


                                 Exhibit Index
                                 -------------

Exhibit 1           Joint Filing Agreement dated as of March 9, 2000 by and
                    among Artisan Partners Limited Partnership, Artisan
                    Investment Corporation, Andrew A. Ziegler, and Carlene
                    Murphy Ziegler





                                                                       EXHIBIT 1

                             JOINT FILING AGREEMENT

     The undersigned hereby agree to the joint filing of the Schedule 13G to
which this Agreement is attached.


                    Dated:  March 9, 2000


                                   ARTISAN INVESTMENT CORPORATION
                                    for itself and as general partner of
                                    ARTISAN PARTNERS LIMITED
                                    PARTNERSHIP

                                   By:  /s/  Andrew A. Ziegler
                                        ---------------------------------
                                             Andrew A. Ziegler
                                             President


                                   ANDREW A. ZIEGLER

                                        /s/ Andrew A. Ziegler
                                   --------------------------------------

                                   CARLENE MURPHY ZIEGLER

                                        /s/ Carlene Murphy Ziegler
                                   --------------------------------------


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