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

Date of Report (Date of earliest event reported)                                                    February 3, 2005

---------------------

SYNALLOY CORPORATION

-----------------------------------------------------------------------

(Exact name of registrant as specified in its charter)

Delaware

0-19687

57-0426694

------------------

--------------------------------------

------------------

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

Croft Industrial Park, P.O. Box 5627, Spartanburg, SC 29304

29304

----------------------------------------------------------------------------------

-------------

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code: (864) 585-3605

                                                        ---------------------

INAPPLICABLE

------------------------------------------------------------------------------------

(Former name or former address if changed since last report)

ITEM 1.01

Entry into a Material Definitive Agreement

At its February 3, 2005 meeting, the Board of Directors set the Board compensation for 2005. The arrangement is the same as reflected in the 2004 Proxy Statement.