SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

CORSAIR CAPITAL MANAGEMENT LLC

(Last)

(First)

(Middle)

350 MADISON AVENUE

9TH FLOOR

(Street)

NEW YORK

10017

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/02/2008

3. Issuer Name and Ticker or Trading Symbol
KEYSTONE CONSOLIDATED INDUSTRIES INC [ KYCN ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	732,228	D⁽¹⁾⁽⁷⁾
Common Stock	3,400	D⁽²⁾⁽⁷⁾
Common Stock	789,549	I	See⁽³⁾⁽⁷⁾
Common Stock	45,656	D⁽⁴⁾⁽⁷⁾
Common Stock	35,811	D⁽⁵⁾⁽⁷⁾
Common Stock	94,378	D⁽⁶⁾⁽⁷⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. Corsair Capital Partners, L..P. ("Corsair Capital") directly owns 732,228 shares of common stock.

2. Corsair Long Short Partners, L.P. ("Corsair Long Short") owns 3,400 shares of common stock through its wholly-owned subsidiary, Corsair Long Short International, Ltd.

3. Corsair Select, L.P. ("Corsair Select") directly owns 789,549 shares of common stock.

4. Corsair Capital Partners 100, L.P. ("Corsair 100") directly owns 45,656 shares of common stock.

5. Corsair Select 100, L.P. ("Corsair Select") directly owns 35,811 shares of common stock.

6. Corsair Capital Investors, Ltd. ("Corsair Investors") directly owns 94,378 shares of common stock.

7. Corsair Capital Management, L.L.C. ("Corsair Management") is the investment manager of Corsair Capital, Corsair Long Short, Corsair Select, Corsair 100, Corsair Select 100 and Corsair Investors (collectively, the "Funds"). Messrs. Petschek and Major are the controlling persons of Corsair Management. Therefore, each of Corsair Management, Mr. Petschek and Mr. Major may be deemed to share beneficial ownership of the shares beneficially owned by the Funds. Pursuant to Rule 16a-1(4) promulgated under the Securities Exchange Act of 1934, as amended, each of the Reporting Persons herein states that the filing of this Form 3 and the statements made herein shall not be deemed an admission that he or it is the owner of any of the securities covered by this Form 3, except to the extent of their pecuniary interest therein.

	Steven Major, Managing Member of Corsair Capital Management, L.L.C.	07/14/2008
	** Signature of Reporting Person	Date
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 5 (b)(v).
** 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 space is insufficient, see Instruction 6 for procedure.
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