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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001160550-08-000040.txt : 20080508
<SEC-HEADER>0001160550-08-000040.hdr.sgml : 20080508
<ACCEPTANCE-DATETIME>20080508151859
ACCESSION NUMBER:		0001160550-08-000040
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20080508
DATE AS OF CHANGE:		20080508

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNICREDITO ITALIANO SPA
		CENTRAL INDEX KEY:			0001160550

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		PIAZZA CORDUSIO 2
		CITY:			MILAN ITALY
		STATE:			L6
		ZIP:			20123
		BUSINESS PHONE:		011390288628660

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORTHWEST PIPE CO
		CENTRAL INDEX KEY:			0001001385
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL PIPE & TUBES [3317]
		IRS NUMBER:				930557988
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-44989
		FILM NUMBER:		08813670

	BUSINESS ADDRESS:	
		STREET 1:		12005 N BURGARD
		STREET 2:		P O BOX 83149
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97203
		BUSINESS PHONE:		5032851400

	MAIL ADDRESS:	
		STREET 1:		12005 N BURGARD
		STREET 2:		P O BOX 83149
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97203
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>northwestpipe.txt
<DESCRIPTION>4.30.08 NORTHWEST PIPE 13G FILING
<TEXT>



                         SECURITIES EXCHANGE COMMISSION
                              Washington, DC 20549

                    Under the Securities Exchange Act of 1934
                                (Amendment No. 0)

                             NORTHWEST PIPE COMPANY
                                (Name of Issuer)

                                   Common Stock
                         (Title of Class of Securities)

              Date of Event Which Requires Filing of this Statement
                                   April 30, 2008

                 Check the appropriate box to designate the rule
                    pursuant to which this Schedule is filed

                                [ ] Rule 13d-1(b)
                                [X] Rule 13d-1(c)
                                [ ] Rule 13d-1(d)


                                   667746101
                                 (CUSIP NUMBER)


1) Name of Reporting Person: UniCredito Italiano S.p.A.


         IRS Identification                      000000000
         No. of Above

2)       Check the Appropriate Box               (a)
         of A Member of  Group
         (See Instructions)                      (b)

3)       SEC Use Only

4)       Citizenship of Place of
         Organization                            Italy

         Number of                               (5)Sole Voting
         Shares                                  Power               457,436
         Beneficially Owned                      [See Item 4 below.]
         by Each Reporting
         Person With                             (6)Shared Voting
                                                 Power                   0

                                                 (7)Sole Disposi-
                                                 tive Power          457,436
                                                 [See Item 4 below.]

                                                 (8)Shared Disposi-
                                                 tive Power              0

9)       Aggregate Amount Beneficially           457,436
         Owned by Each                           [See Item 4 below.]
         Reporting Person

10)      Check if the aggregate Amount in Row (9) Exclude Certain Shares (See
         Instructions)

11)      Percent of Class Represented
         By Amount in Row 9.                     5.0%

12)      Type of Reporting
         Person (See Instructions)               HC

Item 1(a)         Name of Issuer.

                  NORTHWEST PIPE COMPANY

Item 1(b)         Address of Issuer's Principal Executive Offices:

                  WILLIAM R TAGMYER
                  200 SOUTH WEST MARKET STREET
                  SUITE 1800
                  PORTLAND, OR 97201
                  UNITED STATES

Item 2(a)         Name of Person Filing:

                     UniCredito Italiano S.p.A.

Item 2(b)         Address of Principal Business Office:

                  Piazza Cordusio 2
                  20123 Milan, Italy

Item 2(c)         Citizenship:

                  Italy

Item 2(d)         Title of Class of Securities:

                  Common Stock

Item 2(e)         Cusip Number:

                  667746101

Item 3            The person filing this statement pursuant to Rule 13d-1(b)
                  or 13d-2(b) is:

                  Inapplicable

Item 4.  Ownership.

(a) Amount Beneficially Owned: 457,436**

(b) Percent of Class: 5.0%**

(c) Number of shares as to which such person has

         (i) sole power to vote or to direct the vote 457,436**

         (ii) shared power to vote or to direct vote 0

         (iii) sole power to dispose or to direct disposition of 457,436**

         (iv) shared power to dispose or to direct disposition 0

**Shares reported on this Schedule 13G (the Shares) are owned by a Fund
advised by Pioneer Investment Management Limited (PIML the "Investment
Advisory Business").  The Shares include 457,436 shares (approximately
5.0% of the Issuer's outstanding shares) owned by the Fund advised by PIML.

The Investment Advisory Business is an indirect subsidiary of the Reporting
Person. In its role as investment manager or adviser to the Funds, the
Investment Advisory Business possesses investment and/or voting control over the
Shares. The Reporting Person disclaims beneficial ownership of the Shares.  The
filing of this Schedule 13G shall not be construed as an admission that the
Reporting Person or any of its subsidiaries is the beneficial owner of the
Shares for any other purposes than Section 13(d) of the Securities Exchange Act
of 1934.

Item 5. Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date Hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check here:

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

The interest of one person, Pioneer Funds - Global Ecology, an open-end
investment fund in Luxembourg, in the Common Stock of Northwest Pipe Company,
amounted to 457,436 shares or 5.0% of the total outstanding Common Stock at
April 30, 2008.

Item 7.  Identification and Classification of the Subsidiary Which Acquired
         the Security Being Reported On By the Parent Holding Company.

         Inapplicable.

Item 8.  Identification and Classification of Members of the Group.

         Inapplicable.

Item 9.  Notice of Dissolution of the Group.

         Inapplicable.

Item 10. Certification.

         By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.

         After reasonable inquiry and to the best of my knowledge and belief,I
certify that the information set forth in this statement is true, complete and
correct.


                  Date
                  MAY 8, 2008





                  /s/Dario Frigerio
                  Name: Dario Frigerio
                  Title: Head of Private Banking and Asset Management Division






                  /s/Paolo Fiorentino
                  Name: Paolo Fiorentino
                  Title: Head of Global Banking Services Division
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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