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

                                  March 1, 2004
                ------------------------------------------------
                Date of Report (Date of earliest event reported)

                              ELAMEX, S.A. de C.V.
             (Exact name of Registrant as specified in its charter)

            Mexico                        0-27992             Not Applicable
(State or other jurisdiction of      (Commission file        (I.R.S. employer
 Incorporation or organization)           number)         Identification number)

                             1800 Northwestern Drive
                                EL PASO, TX 79912
          ------------------------------------------------------------
          (Address of principal executive offices, including zip code)

                                 (915) 298-3061
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       (Registrant's telephone number, including area code in El Paso, TX)




Item 7: Financial Statements and Exhibits

      (c)   Exhibits.

      Number      Description
      ------      -----------

       99.01      Press release dated February 29, 2004.

Item 12: Results of Operations and Financial Condition

The information in this report and the exhibit attached hereto are being
furnished pursuant to Item 12 of Form 8-K and shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be
deemed incorporated by reference in any filing with the Securities and Exchange
Commission under the Securities Act of 1934 or the Securities Act of 1933,
except as shall be expressly set forth by specific reference to such filing.

On February 29, 2004, Elamex, S.A. de C.V. issued a press release announcing its
financial results for the fourth quarter and year ended December 31, 2003 and
certain other information. The press release is attached to this report as
Exhibit 99.01.




                                   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 hereunto duly authorized.

                                                     Elamex, S.A. de C.V.

Date: March 1, 2004                                  By: /s/ Richard P. Spencer
                                                         -----------------------
                                                         Richard P. Spencer
                                                         President  and
                                                         Chief Executive Officer




                                  Exhibit Index

Number      Description
- ------      -----------

99.01       Press Release dated February 29, 2004.