Script

I have a file say File1.Now i need a specific pattern from the lines to be added to the other line. File red blue green ABC.txt@ABC END black ash grey purple XYZ.txt@XYZ orange pink yellow marroon PQR.txt@PQR Now i want the file to look like this
#change ABC red blue green ABC.txt@ABC END #change XYZ black ash grey purple XYZ.txt@XYZ END #change PQR orange pink yellow marroon PQR.txt@PQR END

Somehow i am not able to add space to my previous post.Kindly let me know if it is not understood.