FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * MCCLAIN TERRY J   2. Issuer Name and Ticker or Trading Symbol VALMONT INDUSTRIES INC [VMI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Sr. VP & CFO (Last) (First) (Middle) 2810 BRISTOLWOOD DR 3. Date of Earliest Transaction (Month/Day/Year) 11/15/2004 (Street) FREMONT, NE 68025 4. If Amendment, Date Original Filed(Month/Day/Year) 11/16/2004 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/15/2004   M   20,000 A $ 13.91 147,505 D   Common Stock 11/15/2004   F   14,325 D $ 23.73 133,180 D   Common Stock 11/15/2004   M   6,666 A $ 16.688 139,846 D   Common Stock 11/15/2004   F   5,309 D $ 23.73 134,537 D   Common Stock               2,310 I Son Common Stock               1,726 I Spouse

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-Qualified Stock Option (right to buy)

$ 13.91

11/15/2004

M

20,000

12/16/2002

12/15/2011

Common Stock

20,000

$ 0

10,000

D

Non-Qualified Stock Option (right to buy)

$ 16.688

11/15/2004

M

6,666

12/13/2002

12/12/2009

Common Stock

6,666

$ 0

0

D

Non-Qualified Stock Option (right to buy)

$ 23.73

11/15/2004

A

5,309

05/15/2005

12/12/2009

Common Stock

5,309

$ 0

5,309

D

Non-Qualified Stock Option (right to buy)

$ 23.73

11/15/2004

A

14,325

05/15/2005

12/15/2011

Common Stock

14,325

$ 0

14,325

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MCCLAIN TERRY J 2810 BRISTOLWOOD DR FREMONT, NE 68025			Sr. VP & CFO

Signatures

/s/ Terry J. McClain		11/17/2004
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Remarks: This filing is being amended in its entirety to delete erroneous information inadvertently included in the original filing. The reporting person no longer has a reportable interest in 2,310 shares of VMI common stock owned by his daughter and included in the reporting person's prior ownership reports.

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