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                       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


                                  JUNE 25, 1998
                Date of Report (Date of Earliest Event Reported)




                               NASHUA CORPORATION
             (Exact Name of Registrant as Specified in its Charter)



                                    DELAWARE
                 (State or Other Jurisdiction of Incorporation)



            1-5492-1                                     02-0170100
   (Commission File Number)                 (I.R.S. Employer Identification No.)
                                     


                               44 FRANKLIN STREET
                           NASHUA, NEW HAMPSHIRE 03060
                    (Address of Principal Executive Offices)


                                  (603)880-2323
              (Registrant's Telephone Number, Including Area Code)



                                 NOT APPLICABLE
          (Former Name or Former Address, if Changed Since Last Report)



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                    INFORMATION TO BE INCLUDED IN THE REPORT


ITEM 5 - OTHER EVENTS
- ---------------------

On June 25, 1998, Nashua Corporation issued the following press release:

               NASHUA CORPORATION REVISES SHAREHOLDER RIGHTS PLAN
                   AND AUTHORIZES NEW STOCK REPURCHASE PROGRAM

     Nashua, NH, June 25, 1998 -- Nashua Corporation (NYSE:NSH) today announced
     that its Board of Directors has approved an amendment to the Company's
     Shareholder Rights Plan (the "Rights Plan") adopted in July 1996. The
     amendment increases the beneficial stock ownership and tender offer
     threshold at which preferred stock purchase rights would detach from the
     Company's common stock and become exercisable from 10% to 20%.

     Gerald G. Garbacz, Chairman, President and CEO of the Company said, "After
     careful review with our financial and legal advisers, the Board of
     Directors continues to believe that the Rights Plan adopted in July 1996
     provides important protection for all our shareholders in the event the
     Company is confronted with coercive or unfair takeover tactics. It does not
     restrict consideration by the Board of any offer on terms favorable to all
     shareholders. Increasing the beneficial stock ownership and tender offer
     points to 20 percent brings the threshold to a level which is more typical
     in such plans, affords investors who wish to do so the opportunity to own a
     substantially larger stake in the Company and responds in part to the
     shareholder proposal approved at the Company's 1998 Annual Meeting
     requesting the Company to redeem the rights outstanding under the Rights
     Plan."

     Nashua also announced that its Board of Directors authorized the Company to
     repurchase from time to time in the open market up to one million shares of
     its common stock commencing after the announcement of the Company's second
     quarter financial results. The Company stated that it would purchase its
     shares as market and financial conditions warrant and subject to SEC
     regulations and Nashua's financial covenant limitations. This share
     repurchase implements Nashua's previously announced plan to return to
     stockholders a portion of the proceeds from the sale of its worldwide
     photofinishing businesses in April 1998.

     This press release contains forward-looking statements as that term is
     defined in the Private Securities Litigation Reform Act of 1995. When used
     in this press release, the words "to repurchase from time to time,"
     "commencing after," and similar expressions are intended to identify such
     forward-looking statements. Such forward-looking statements are subject to
     risks and uncertainties which could cause actual results to differ
     materially from those anticipated. Such risks and uncertainties include,
     but are not limited to, the Company's future capital needs, stock market
     conditions, fluctuations in the price of the Company's stock, fluctuations
     in customer demand, intensity of competition from other vendors, timing and
     acceptance of new product introductions, material adverse damages in the
     Ricoh litigation, general economic and industry conditions and other risks
     set forth in the Company's filings with the SEC. The Company assumes no
     obligation to update the information contained in this press release.


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     Nashua Corporation markets specialty imaging products and services to
     industrial and commercial customers. The Company's products include thermal
     papers, pressure-sensitive labels and specialty papers, as well as copier,
     ink jet and laser printer supplies.



                                   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.



                                        NASHUA CORPORATION



Date:  July 2, 1998                     By /s/ Peter C. Anastos
                                           ---------------------
                                           Peter C. Anastos
                                           Vice President, General Counsel
                                           and Secretary