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
April 6, 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 Events
On April 6, 1999, ACX Technologies, Inc. issued the following
press release.
ACX TECHNOLOGIES, INC. SEEKING BUYER FOR
FLEXIBLE PACKAGING DIVISION
Golden, Colorado -- April 6, 1999 -- ACX Technologies, Inc.
(NYSE:ACX) today announced that its subsidiary, Graphic Packaging
Corporation, has decided to seek a strategic buyer for its
flexible packaging division.
In making the announcement, Jeff Coors, President and Chief
Executive Officer of Graphic Packaging Corporation, explained,
"The packaging businesses we are in, flexible and folding cartons,
are changing rapidly. The consolidation of the industry is
creating larger suppliers out of smaller regional companies. To
compete in this environment requires a significant investment from
from packaging companies in order to sustain or grow their market
presence and benefit from economies of scale." Mr. Coors
continued, "We have made the difficult decision to seek a buyer
for our flexible packaging business in order to concentrate our
efforts on growing our folding carton business. We believe that a
successful flexible packager will benefit from the addition of our
plants, products and dedicated employees."
Graphic Packaging Corporation's flexible division has
approximately $115 million in annual sales and enjoys a leading
position in the North American flexible packaging market. The
company is currently entertaining bids for its flexible packaging
business from several interested parties and has retained Lehman
Brothers to assist in the process.
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 and flexible packaging.
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.
April 19, 1999 ACX TECHNOLOGIES, INC.
By:/s/Beth A. Parish
-------------------------
Beth A. Parish
(Controller and Principal
Accounting Officer)
