UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)
COLD METAL PRODUCTS, INC.
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(Name of Issuer)
Common Shares
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(Title of Class of Securities)
192861102
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(CUSIP Number)
December 31, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/ X / Rule 13d-1(b)
/ / Rule 13d-1(c)
/ / Rule 13d-1(d)
*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 the
disclosures provided in a prior cover page.
The information required in 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).
<PAGE>
SCHEDULE 13G
CUSIP NO. 192861102
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Quaker Capital Management Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
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(b) X
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3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
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NUMBER OF 5 SOLE VOTING POWER 0
SHARES
BENEFICIALLY 6 SHARED VOTING POWER 406,400
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER 0
REPORTING
PERSON 8 SHARED DISPOSITIVE POWER 406,400
WITH
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
406,400
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
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The Reporting Person disclaims beneficial ownership of 406,400
shares owned by its clients.
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.76%
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12 TYPE OF REPORTING PERSON*
IA
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Page 2 of 4 Pages
<PAGE>
SCHEDULE 13G
CUSIP NO. 192861102
This constitutes Amendment No. 3 to the Schedule 13G of Quaker
Capital Management Corporation filed with the Securities and Exchange Commission
on February 15, 1996 relating to the Common Stock of Cold Metal Products, Inc.,
as amended by Amendment No. 1 filed with the Commission on February 11, 1997 and
Amendment No. 2 filed with the Commission on February 12, 1998(the "Schedule
13G").
Item 4 of the Schedule 13G is hereby amended and restated to read in its
entirety as follows:
Item 4. Ownership
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(a) The Reporting Person, in its capacity as investment adviser, may
be deemed to be the beneficial owner of 406,400 shares of the
Common Stock of the Issuer which are owned by various investment
advisory clients of the Reporting Person in accounts over which
the Reporting Person has discretionary authority. The filing of
this report shall not be construed as an admission that the
Reporting Person is, for purposes of Section 13(d) or 13(g) of
the Act, the beneficial owner of these securities.
(b) The shares covered by this report represent 5.76% of the Common
Stock of the Issuer.
(c) None of the clients of the Reporting Person is known to own more
than 5% of the Common Stock of the Issuer. The Reporting Person
shares voting and dispositive power over the 406,400 shares owned
by its clients and held in accounts over which it has
discretionary authority.
Page 3 of 4 Pages
<PAGE>
SCHEDULE 13G
CUSIP NO. 192861102
SIGNATURE
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.
QUAKER CAPITAL MANAGEMENT CORPORATION
February 14, 1999
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Date
/s/ Mark G. Schoeppner
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Signature
Mark G. Schoeppner, President
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Name/Title
Page 4 of 4 Pages
