Ownership Submission
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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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