M & F Worldwide Corp. is a holding company that conducts its operations through its indirect wholly owned subsidiary, Pneumo Abex Corporation (Mafco Worldwide), and its indirect 85.7% owned subsidiary, Panavision Inc. Mafco Worldwide is primarily in the business of producing licorice flavors and other flavoring agents from whole and processed plant products. Panavision is a designer, manufacturer and supplier of high precision camera systems, comprising cameras, lenses and accessories, for the motion picture and television industries.