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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 13)*
CECO Filters, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
150-034-106
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(CUSIP Number)
Phillip DeZwirek
111 Elizabeth Street, 6th Floor
Toronto, Ontario CANADA M5G 1P7
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
November 21, 1996
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisitions which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement / /. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent of less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the act (however, see
the Notes).
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SCHEDULE 13D
CUSIP NO. 150-034-106 PAGE 2 OF 13 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CECO Environmental
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 4,641,730
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH
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9 SOLE DISPOSITIVE POWER
4,641,730
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,641,730 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.59%
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14 TYPE OF REPORTING PERSON IN
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 150-034-106 PAGE 2 OF 13 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Icarus Invest Corp.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 4,641,730
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9 SOLE DISPOSITIVE POWER
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,641,730 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.59%
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14 TYPE OF REPORTING PERSON IN
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 150-034-106 PAGE 4 OF 13 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Phillip DeZwirek
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 4,641,730
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,641,730
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,641,730 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.59%
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14 TYPE OF REPORTING PERSON IN
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 150-034-106 PAGE 5 OF 13 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jason Louis DeZwirek
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 4,641,730
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,641,730
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,641,730 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.59%
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14 TYPE OF REPORTING PERSON IN
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 150-034-106 PAGE 6 OF 13 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
IntroTech Investments, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 4,641,730
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,641,730
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,641,730 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.59%
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14 TYPE OF REPORTING PERSON IN
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
CUSIP No. 150-034-106 Page 7 of 13
Amendment No. 13 to a Schedule 13D, which was last amended by an
Amendment No. 12 to Schedule 13D, is filed by CECO Environmental Corp.
("CEC"), Icarus Investment Corp. ("Icarus"), Phillip DeZwirek, Jason Louis
DeZwirek and IntroTech Investments, Inc. with respect to an event dated
November 21, 1996 relating to the common stock, par value $.001 of CECO
Filters, Inc. ("CECO"). Only those items amended hereby are included herein.
Items 3-5 inclusive for CECO Environmental Corp.
Item 3. Source and Amount of funds or Other Considerations.
CEC acquired an additional 138,800 shares of CECO common stock in a
single private transaction with a non-U.S. person on November 21, 1996 in
exchange for 138,800 newly issued shares of common stock of CEC.
Item 4. Purpose of the Transaction
CEC increased its ownership of shares of CECO to maintain its position
of owning a majority of CECO's outstanding shares. CEC intends to purchase
additional shares of CECO common stock if such additional shares become
available at a price which CEC considers reasonable. Such purchases, if made,
would be made through private transactions, including exchanges of CEC common
stock for CECO common stock, or open market purchases of CECO common stock.
CEC acquired 138,800 additional shares of CECO common stock on
November 21, 1996 by exchanging CEC common stock for CECO common stock on a
1-for-1 basis with a non-U.S. person.
Item 5. Interest in Securities of the Issuer.
(a) CEC beneficially owns 4,641,730 shares or 67.59% of
the outstanding common stock of CECO. CEC owns all
of such shares directly.
(b) CEC has sole voting power and sole dispositive power
with respect to such 4,641,730 shares of common stock
of CECO.
(c) On November 21, 1996, in a single private transaction
occurring outside the United States, CEC exchanged
138,800 newly issued shares of CEC common stock for
138,800 shares of CECO common stock from a non-U.S.
person at a one-to-one exchange rate.
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CUSIP No. 150-034-106 Page 8 of 13
(d) CEC is a publicly traded company with more than 900
beneficial holders of its common stock. The
shareholders of CEC that have the right to receive or
the power to direct the receipt of dividends from, or
the proceeds of sale of, the shares of CECO common
stock owned by CEC that relates to more than a 5%
interest in that class of securities of CECO are
IntroTech Investments, Inc. ("IntroTech"), Icarus
Investment Corp. ("Icarus") and its shareholders,
Phillip DeZwirek and Jason Louis DeZwirek. Icarus
owns 18.18% of the outstanding shares of common stock
of CEC. Icarus is owned 50% by Phillip DeZwirek and
50% by Jason Louis DeZwirek. IntroTech owns 21.78%
of the outstanding shares of common stock of CEC.
IntroTech is wholly owned by Jason Louis DeZwirek.
(e) Not applicable.
Items 3-5 inclusive for Icarus Investment Corp.
Item 3. Source and Amount of Funds or Other Considerations.
Icarus beneficially owns 18.18% of the 4,641,730 shares of CECO owned
by CEC indirectly through Icarus' direct ownership of 18.18% of the outstanding
shares of common stock of CEC. See CEC's response to Item 3 herein.
Item 4. Purpose of Transaction.
Icarus acquired its shares of common stock of CECO for the same
purposes as CEC. See CEC's response to Item 4 herein.
Item 5. Interest in Securities of the Issuer.
(a) By virtue of owning 18.18% of the outstanding stock
of CEC, Icarus beneficially owns the 4,641,730 shares
of common stock of CECO owned by CEC. Icarus owns
all of such shares indirectly through its direct
ownership of common stock of CEC.
(b) By virtue of owning 18.18% of the outstanding stock
of CEC, Icarus has shared voting power and shared
dispositive power with respect to the 4,641,730
shares of common stock of CECO owned by CEC. Such
powers are shared with the other shareholders of CEC.
<PAGE> 9
CUSIP No. 150-034-106 Page 9 of 13
(c) See CEC's response to Item 5(c) herein.
(d) Icarus is controlled by Phillip DeZwirek and Jason
Louis DeZwirek who each owns 50% of the outstanding
stock of Icarus. Mr. Phillip DeZwirek and Mr. Jason
Louis DeZwirek each have the right to receive 50% of
the distributions from Icarus resulting from the
proceeds of dividends from, or the proceeds of sale
of, the shares of CECO owned by CEC.
(e) Not applicable.
Items 3-5 inclusive for Phillip DeZwirek.
Item 3. Source and Amount of Funds or Other Considerations.
Mr. DeZwirek owns 50% of the outstanding stock of Icarus, 5,497 shares
of common stock of CEC directly and warrants to purchase 750,000 shares of
common stock of CEC. See CEC's and Icarus' responses to Item 3 herein.
Item 4. Purpose of Transaction.
Mr. DeZwirek acquired the shares of common stock of CECO for the same
purposes as CEC. See response of CEC to Item 4 herein.
Item 5. Interest in Securities of the Issuer.
(a) By virtue of owning 25.84% of the outstanding stock
of CEC (including the warrants to purchase 750,000
shares of common stock), Mr. DeZwirek beneficially
owns the 4,641,730 shares of common stock of CECO
owned by CEC. Mr. DeZwirek owns 16.50% of the
outstanding stock of CEC indirectly through his
direct ownership of 50% of the stock of Icarus and
owns 9.34% of the outstanding stock of CEC directly
(including as outstanding the securities underlying
the warrants to purchase 750,000 shares of common
stock).
(b) Mr. DeZwirek has shared voting power and shared
dispositive power with respect to the 4,641,730
shares of common stock of CECO owned by CEC as a
result of his position as a director of CEC and by
virtue of owning 25.84% of the outstanding stock of
CEC (including as outstanding the securities
underlying the warrants to purchase 750,000 shares of
common stock). Mr. DeZwirek owns shares of CECO
indirectly through his 50% ownership of Icarus
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CUSIP No. 150-034-106 Page 10 of 13
which entity owns 16.50% of the outstanding common
stock of CEC (including as outstanding the shares of
common stock underlying Mr. DeZwirek's warrants).
Mr. DeZwirek also owns shares of CECO common stock
indirectly through his direct ownership of 9.34% of
the outstanding common stock of CEC (including as
outstanding the securities underlying the warrants to
purchase 750,000 shares of common stock). Mr.
DeZwirek is the Chief Executive Officer, Chief
Financial Officer and a director of CEC.
(c) See CEC's response to Item 5(c) herein.
(d) Mr. DeZwirek controls Icarus. He owns 50% of the
outstanding stock of Icarus. Mr. Jason Louis
DeZwirek is the only person other than Mr. Phillip
DeZwirek who is known to have the right to receive or
the power to direct the receipt of dividends from, or
the proceeds of the sale of, the shares of CECO owned
indirectly by Icarus through Icarus' direct ownership
of shares of common stock of CEC. Mr. Phillip
DeZwirek is the only person known to have the right
to receive or the power to direct the receipt of
dividends from, or the proceeds of the sale of, the
shares of CECO owned indirectly by him through his
direct ownership of shares of common stock of CEC.
Mr. Jason Louis DeZwirek is the adult son of Mr.
Phillip DeZwirek.
(e) Not applicable.
Items 3-5 inclusive for Jason Louis DeZwirek.
Item 3. Sources and Amount of Funds or Other Consideration.
See responses of CEC, Icarus and IntroTech to Item 3 herein. Mr.
DeZwirek owns 50% of the outstanding stock of Icarus. Mr. DeZwirek is the sole
owner of IntroTech.
Item 4. Purpose of the Transaction.
Mr. DeZwirek acquired the shares of Common Stock of CECO for the same
purposes as CEC. See response of CEC to Item 4 herein.
Item 5. Interest in Securities of the Issuer.
(a) By virtue of owning 39.96% of the stock of CEC, Mr.
DeZwirek beneficially owns the 4,641,730 shares of
common stock of CECO owned by CEC. Mr. DeZwirek
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CUSIP No. 150-034-106 Page 11 of 13
owns 18.18% of the outstanding stock of CEC
indirectly through his direct ownership of 50% of the
stock of Icarus. Mr. DeZwirek owns an additional
21.78% of the outstanding stock of CEC through his
ownership of all the stock of IntroTech.
(b) By virtue of owning 39.96% of the stock of CEC, Mr.
DeZwirek has shared voting power and shared
dispositive power with respect to the 4,641,730
shares of common stock of CECO owned by CEC. This
power applies to all of the shares of CECO owned
indirectly by Mr. DeZwirek. Mr. DeZwirek owns those
shares indirectly through his 50% ownership of Icarus
which entity owns 18.18% of the outstanding common
stock of CEC and his ownership of IntroTech which
owns 21.78% of the outstanding common stock of CEC.
Such powers are shared with the other shareholders of
CEC.
(c) See CEC's response to Item 5(c) herein.
(d) Mr. Jason Louis DeZwirek controls Icarus. Mr.
Phillip DeZwirek is the only person other than Mr.
Jason DeZwirek who is known to have the right to
receive or the power to direct the receipt of
dividends from, or the proceeds of the sale of, the
shares of CECO owned indirectly by Icarus through
Icarus' ownership of shares of CEC. Mr. Jason Louis
DeZwirek controls IntroTech. No other person is
known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds
of the sale of, shares of CECO common stock owned
indirectly by IntroTech through IntroTech's ownership
of shares of CEC.
(e) Not applicable.
Items 3-5 inclusive for IntroTech Investments, Inc.
Item 3. Source and Amount of Funds or Other Considerations.
IntroTech acquired 1,666,666 shares of common stock of CEC directly
from CEC in exchange for 1,666,666 shares of common stock of CECO. IntroTech
subsequently sold 68,000 shares of common stock of CEC pursuant to Rule 144.
By virtue of IntroTech owning 21.78% of CEC, IntroTech beneficially owns the
4,641,730 shares of CECO owed by CEC. See CEC's response to Item 3.
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CUSIP No. 150-034-106 Page 12 of 13
Item 4. Purpose of Transaction.
IntroTech acquired its shares of common stock of CECO for the same
purpose as CEC. See CEC's response to Item 4 herein.
Item 5. Interest in Securities of the Issuer.
(a) By virtue of IntroTech owning 21.78% of CEC,
IntroTech beneficially owns the 4,641,730 shares of
common stock of CECO owned by CEC. IntroTech owns
all of such shares indirectly through its direct
ownership of common stock of CEC.
(b) By virtue of IntroTech owning 21.78% of CEC,
IntroTech has shared voting power and shares
dispositive power with respect to the 4,641,730
shares of common stock of CECO owned by CEC. Such
powers are shared with the other the shareholders of
CEC.
(c) See CEC's response to Item 5(c).
(d) IntroTech is controlled and wholly-owned by Jason
Louis DeZwirek.
(e) Not applicable.
<PAGE> 13
CUSIP NO. 150-034-106 Page 13 of 13
Signatures.
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
November 21, 1996
CECO ENVIRONMENTAL CORP.
By: /s/ Phillip DeZwirek
-----------------------
Phillip DeZwirek
Chief Executive Officer
ICARUS INVESTMENT CORP.
By: /s/ Phillip DeZwirek
-----------------------
Phillip DeZwirek
Chief Executive Officer
/s/ Phillip DeZwirek
-----------------------
Phillip DeZwirek
/s/ Jason Louis DeZwirek
-----------------------
Jason Louis DeZwirek
INTROTECH INVESTMENTS, INC.
By: /s/ Jason Louis DeZwirek
-----------------------
Jason Louis DeZwirek,
Chief Executive Officer
/s/ Josephine Grivas
-----------------------
Josephine Grivas
