FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if OMB APPROVAL
no longer subject --------------------------
to Section 16. Form OMB Number 3235-0287
4 or Form 5 obliga- Expires: September 30, 1998
tions may continue. Estimated average burden
See Instruction 1(b). hours per response ... 0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act
of 1935 or Section 30(1) of the Investment Company Act of 1940
--------------------------------------------------------------------------
1. Name and Address of Reporting Person
American Eco Corporation
154 University Avenue
Toronto Ontario, Canada M5H 3Y9
--------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol
EIF Holdings, Inc. (EIFH)
--------------------------------------------------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary)
--------------------------------------------------------------------------
4. Statement for Month/Year
December 1997
--------------------------------------------------------------------------
5. If Amendment, Date of Original (Month/Year)
--------------------------------------------------------------------------
6. Relationship of Reporting Person to Issuer (Check all applicable)
Director X 10% Owner
--- ---
Officer (give title below) Other (specify below)
--- Chairman ---
--------
--------------------------------------------------------------------------
7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
---
___ Form filed by More than One Reporting Person
---------------------------------------------------------------------------
TABLE 1 - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
1. Title of 2. Transaction 3. Transaction 4. Securities
Security Date Code Acquired (A) or
(Instr.3) (Month/Day/ (Instr.8) Disposed of (D)
Year) (Instr.3,4,and 5)
--------------- --------------------
Code V Amount (A)or Price
(D)
---------------------------------------------------------------------------
Common 12/22/97 J 8,800,000* * --
Stock,
no par
value
---------------------------------------------------------------------------
---------------------------------------------------------------------------
--------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
5. Amount of 6. Ownership 7. Nature of
Securities Form: Direct Indirect
Beneficially (D) or In- Beneficial
Owned at End direct (I) Ownership
of Month (Instr.4) (Instr.4)
(Instr.3 and 4)
---------------------------------------------------------------------------
8,800,000 (D)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(over)
<PAGE>
FORM 4 (Continued)
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of 2. Conversion or 3. Transaction 4. Transaction
Derivative Exercise Price Date (Month/ Code
Security of Derivative Day/Year) (Instr.8)
(Instr.3) Security ----------------
Code V
---------------------------------------------------------------------------
Option to
Purchase* $0.65 12/22/97 J
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
5. Number of 6. Date Exer- 7. Title and
Derivative cisable and Amount of
Securities Expiration Underlying
Acquired(A) Date (Month/ Securities
or Disposed Day/Year) (Instr.3 and 4)
of (D)(Instr.
3, 4, and 5)
----------------- ------------------ -----------------------
(A) (D) Date Expira- Title Amount or
Exer- tion Number of
cisable Date Shares
---------------------------------------------------------------------------
8,800,000 12/22/97 12/21/98 Common 8,800,000
Stock
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
8. Price of 9. Number of 10. Ownership 11. Nature of
Derivative Derivative Form of Indirect
Security Securities Derivative Beneficial
(Instr.5) Beneficially Security: Ownership
Owned at End Direct (D) (Instr.4)
of Month or Indirect
(Instr.4) (I)(Instr.4)
---------------------------------------------------------------------------
-- 8,800,000 D
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
EXPLANATION OF RESPONSES:
*The Reporting Person granted an option to purchase to a third party
for no monetary consideration, together with a proxy to vote the
shares while the option is in effect.
American Eco Corporation
by: /s/ Michael E. McGinnis Jan. 8, 1998
--------------------------- ------------------
Michael E. McGinnis, President
**SIGNATURE OF REPORTING PERSON DATE
**INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED.
IF SPACED PROVIDED IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays
a currently valid OMB Number.
