SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                                
                          FORM 10-K/A
                                
[X]   ANNUAL  REPORT  PURSUANT TO SECTION  13  OR  15(d)  OF  THE
SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 1996

                               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 of incorporation)     (I.R.S. Employer 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)

   Securities registered pursuant to Section 12(b) of the Act:
                                
                       Title of each class
                              None
                                
            Name of each exchange on which registered
                              None
                                
   Securities registered pursuant to Section 12(g) of the Act:
                   $.01 par value Common Stock
                        (Title of class)
                                
  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 [  ]

   Indicate  by  check  mark  if disclosure  of  delinquent  filers
pursuant to Item 405 of Regulation S-K is not contained herein, and
will  not  be contained, to the best of registrant's knowledge,  in
definitive   proxy  or  information  statements   incorporated   by
reference  in Part III of this Form 10-K or any amendment  to  this
Form 10-K.  [X]

   As  of  March 24, 1997, there were 27,970,554 shares  of  common
stock  outstanding.   The aggregate market value  of  such  shares,
other  than shares held by persons who may be deemed affiliates  of
the Registrant, was $280,276,879.

DOCUMENTS INCORPORATED BY REFERENCE

  Registrant's Proxy Statement filed in connection with the 1997
Annual Meeting of Shareholders is incorporated by reference into
Part III.



                             PART IV


ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON
         FORM 8-K

(a)       The following documents are filed as part of this
          report:

   (3)    Exhibits:

Exhibit
Number              Document Description

10.2      Supply Agreement between Graphic Packaging
          Corporation  and Coors Brewing  Company,  dated
          January  1, 1997.




                           SIGNATURES
                                
     Pursuant to the requirements of Section 13 or 15(d)  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.


Date:  November 11, 1997                By /s/ Jeffrey H.  Coors
                                        ------------------------
                                        Jeffrey H. Coors
                                        President and Principal
                                        Executive Officer