Ceramic Industry News

ACX to Spin Off Coors

July 21, 2000
/ Print / Reprints /
ShareMore
/ Text Size+
The Board of Directors of ACX Technologies, Inc. recently approved the spin off of its subsidiary CoorsTek, Inc. (formerly Coors Ceramics), subject to the receipt of a ruling by the Internal Revenue Service that the transaction as contemplated would be tax free to shareholders. Approval of the transaction as a tax-free spin off was anticipated by December 19. The transaction and the record date for the distribution of shares was contingent upon the receipt of the ruling. Further information regarding the ruling was unavailable at press time.

Joe Coors Jr., 57, will be named president and chief executive officer of CoorsTek after the spin off. The shares would be traded on the Nasdaq Stock Market. After the transaction is complete, ACX Technologies will remain with its sole subsidiary, Graphic Packaging Corporation. Jeff Coors, Joe’s 54-year-old brother, will become chief of ACX and Graphic Packaging Corp.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

April 2014 Issue Highlights

Our April 2014 issue is now available!

Podcasts

Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

Ceramic Industry Magazine

CI July 2014

2014 July

Our annual Data Book & Buyers' Guide is your best resource for suppliers of materials and equipment for the ceramic, glass, brick and related industries. Check it out!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px