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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. 6)*
CECO Environmental Corp.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
001-858-109
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(CUSIP Number)
Phillip DeZwirek
505 University Avenue, Suite 1400
Toronto, Ontario CANADA M5G 1X3
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
January 22, 1999
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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. 001-858-109 PAGE 2 OF 6 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Icarus Investment 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*
00 (no change of ownership is reported)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
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NUMBER OF 7 SOLE
VOTING POWER
SHARES 1,334,360
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING
PERSON WITH -------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,334,360
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
1,334,360
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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)
15.91%
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14 TYPE OF REPORTING PERSON
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
CUSIP NO. 001-858-109 PAGE 3 OF 6 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*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
Canadian citizen
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NUMBER OF 7 SOLE
VOTING POWER
SHARES 1,755,497
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 1,334,360
PERSON WITH -------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,755,497
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10 SHARED DISPOSITIVE POWER
1,334,360
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
3,089,857
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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)
30.48%
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14 TYPE OF REPORTING PERSON
IN
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SCHEDULE 13D
CUSIP NO. 001-858-109 PAGE 4 OF 6 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*
00 (no change of ownership is reported)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED / /
PURSUANT TO ITEMS 2(d) OR 2(E)
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
Canadian citizen
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NUMBER OF 7 SOLE
VOTING POWER
SHARES 1,598,666
BENEFICIALLY -------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 1,334,360
PERSON WITH -------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,598,666
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10 SHARED DISPOSITIVE POWER
1,334,360
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
3,001,026
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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)
35.77%
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14 TYPE OF REPORTING PERSON
IN
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SCHEDULE 13D
CUSIP NO. 001-858-109 PAGE 5 OF 6 PAGES
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Amendment No. 6 to Schedule 13D filed by Icarus Investment Corp.
("Icarus"), Phillip DeZwirek, Jason Louis DeZwirek relating to the issuance of
warrants to purchase 500,000 shares of common stock of CECO Environmental Corp.
("CECO") to Phillip DeZwirek.
Items 3-5 inclusive for Phillip DeZwirek.
Item 3. Source and Amount of Funds or Other Considerations.
Phillip DeZwirek purchased the warrants to purchase 500,000 shares of
common stock of CEC with his personal funds.
Item 4. Purpose of Transaction.
Phillip DeZwirek purchased the warrants to purchase 500,000 shares of
common stock of CEC for investment and for purposes of control of CEC.
Item 5. Interest in Securities of the Issuer.
(a) Phillip DeZwirek is deemed to beneficially own all 1,334,360 shares
of common stock of CEC owned by Icarus and the 5,497 shares of CEC that he owns
directly and the securities underlying the warrants to purchase 1,750,000 shares
of common stock of CEC, which represents 30.48% of the outstanding common stock
of CEC (including as outstanding the securities underlying the warrants to
purchase 1,750,000 shares of common stock of CEC). Of such amount 13.16% is
attributable to Mr. DeZwirek's ownership of shares of common stock of CEC
indirectly through Icarus and 17.32% is attributable to Mr. DeZwirek's direct
ownership of shares of common stock of CEC.
(b) As a result of Phillip DeZwirek being the Chief Executive Officer
and a 50% shareholder of Icarus, Mr. DeZwirek controls Icarus. Phillip DeZwirek
has shared voting power and shared dispositive power with respect to the
1,334,360 shares of common stock of CEC owned by Icarus. Such power is shared
with Jason DeZwirek. Phillip DeZwirek has sole voting and sole dispositive power
with respect to the 5,497 shares of common stock of CEC and the warrants to
purchase 1,750,000 shares of common stock of CEC that he owns directly.
(c) Phillip DeZwirek has not engaged in any transaction in common stock
of CEC, except as follows: on January 22, 1999, Phillip DeZwirek purchased
from CEC warrants to purchase 500,000 shares of common stock of CEC for an
aggregate purchase price of $10.00, or $.00002 per warrant. The exercise price
of each warrant is $3.00 per share. Mr. DeZwirek has served as the Chief
Executive Officer and Chief Financial Officer of CEC for many years without
salary. The issuance of the warrants to Mr. DeZwirek was authorized by the Board
of Directors of CEC.
(d) Phillip DeZwirek controls Icarus. He owns 50% of the outstanding
stock of Icarus. Mr. Jason Louis DeZwirek is the only person other than 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 common
stock of CEC owned by Icarus. 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 shares of the common stock of CEC, including the common
stock underlying the 1,750,000 warrants to purchase common stock of CEC, owned
directly by him. The interests of Icarus, Phillip DeZwirek and Jason DeZwirek in
the common stock of CEC relate to more than 5% interests in the common stock of
CEC.
(e) Not applicable.
None
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SCHEDULE 13D
CUSIP NO. 001-858-109 PAGE 6 OF 6 PAGES
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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.
Dated: January 27, 1999 ICARUS INVESTMENT CORP.
By: /s/ Phillip DeZwirek
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Phillip DeZwirek
Chief Executive Officer
/s/ Phillip DeZwirek
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Phillip DeZwirek
/s/ Jason Louis DeZwirek
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Jason Louis DeZwirek
