UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
July 26, 1999
(Date of earliest event reported)
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)
Item 5. Other Items
On July 26, 1999, ACX Technologies, Inc. issued the following
press release.
Contact: Holly Coors
(303) 271-7005
ACX TECHNOLOGIES ANNOUNCES SALE OF FLEXIBLE PACKAGING DIVISION
Golden, Colorado - July 26, 1999 - ACX Technologies, Inc.
(NYSE:ACX) today announced that its subsidiary, Graphic Packaging
Corporation, has entered into an agreement to sell the assets and
business of its flexible packaging division to Sonoco Products
Company for approximately $105 million.
Commenting on the sale, Jeff Coors, President and Chief
Executive Officer of Graphic Packaging Corporation stated, "We
are pleased to announce the sale of our flexible division to a
strategic industry player. We believe our employees and
customers will benefit from being part of the Sonoco
organization, a highly regarded producer of flexible packaging.
In addition, this transaction will allow Graphic Packaging to
focus on becoming the best producer of folding cartons."
ACX Technologies has stated that, after transaction costs,
it will use the cash proceeds from this sale to pay down existing
debt associated with its acquisition of the packaging business of
Fort James Corporation.
ACX Technologies, Inc., through its two primary businesses,
applies innovative technology to manufacture value-added
industrial products. Coors Ceramics Company provides enabling
technology through advanced technical ceramics and other
engineered materials. Graphic Packaging Corporation is a
specialty packaging manufacturer that produces high performance
folding cartons. Pending a favorable ruling from the IRS, ACX
Technologies is planning to spin-off Coors Ceramics Company by
the end of 1999.
SIGNATURE
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.
ACX TECHNOLOGIES, INC.
August 4, 1999 By:/s/ Beth A. Parish
-------------------------
Beth A. Parish
(Controller and Principal
Accounting Officer)
