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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CFfHdAu57+ZTiyItVeltpnsqINKS5RULdVEnjBsNNm+aac4d3Ai8BjoN8EDlx7m3
 uGALLyFaOvYy+XSvXxwxEg==

<SEC-DOCUMENT>0001181431-08-048602.txt : 20080815
<SEC-HEADER>0001181431-08-048602.hdr.sgml : 20080814
<ACCEPTANCE-DATETIME>20080815173442
ACCESSION NUMBER:		0001181431-08-048602
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080814
FILED AS OF DATE:		20080815
DATE AS OF CHANGE:		20080815

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CECO ENVIRONMENTAL CORP
		CENTRAL INDEX KEY:			0000003197
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP [3564]
		IRS NUMBER:				132566064
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3120 FORRER STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45209
		BUSINESS PHONE:		4165936543

	MAIL ADDRESS:	
		STREET 1:		505 UNIVERSITY AVENUE
		STREET 2:		SUITE 1400
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5G 1X3

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	API ENTERPRISES INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALARM PRODUCTS INTERNATIONAL INC
		DATE OF NAME CHANGE:	19851210

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ICARUS INVESTMENT CORP
		CENTRAL INDEX KEY:			0000946590

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-07099
		FILM NUMBER:		081023713

	BUSINESS ADDRESS:	
		STREET 1:		505 UNIVERSITY AVE
		STREET 2:		SUITE 1400
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5B 1X3

	MAIL ADDRESS:	
		STREET 1:		505 UNIVERSITY AVE
		STREET 2:		SUITE 1400
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5B 1X3
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd214169.xml
<DESCRIPTION>CONVERTIBLE DEBT PURCHASE
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-08-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000003197</issuerCik>
        <issuerName>CECO ENVIRONMENTAL CORP</issuerName>
        <issuerTradingSymbol>CECE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000946590</rptOwnerCik>
            <rptOwnerName>ICARUS INVESTMENT CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>505 UNIVERSITY AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1400</rptOwnerStreet2>
            <rptOwnerCity>TORONTO</rptOwnerCity>
            <rptOwnerState>A6</rptOwnerState>
            <rptOwnerZipCode>M5G 1X3</rptOwnerZipCode>
            <rptOwnerStateDescription>ONTARIO, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible Debenture (right to buy)</value>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>4.75</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-08-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>991085</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4707655</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-08-14</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-07-31</value>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>991085</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>991085</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The convertible debenture is covertible into common stock of the Company at any time prior to the repayment date.  It is payable upon the earlier of (i)  July 31, 2010, (ii) six months after repayment of the senior facility, or (iii) upon certain changes of control.</footnote>
        <footnote id="F2">The convertible debenture was issued in the amount of Canadian $5 million.  The number of derivative shares acquired and the price of the derivative security listed reflects the exchange rate as of August 14, 2008</footnote>
        <footnote id="F3">The rate of interest is 10% in 2008; 11% in 2009 and 12% in 2010</footnote>
        <footnote id="F4">These securities are owned by Icarus Investment Corp. (a Canadian corporation) f/k/a Can-Med Technology, Inc. d/b/a Green Diamond Oil Corp., which is controlled by filer. Filer is an indirect beneficial owner of these reported securities.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Phillip DeZwirek, President</signatureName>
        <signatureDate>2008-08-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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