M&F Worldwide

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M & F Worldwide
Type Public (NYSEMFW)
Industry holding company
Founded June 1, 1988
Headquarters New York, New York, USA
Key people Barry F. Schwartz, CEO
Ronald O. Perelman
Products checks, licorice products
Services direct marketing, contact center
Parent Mafco Holdings
Subsidiaries Harland Clarke Holdings Corp.[1]
Mafco
Website mandfworldwide.com

M&F Worldwide Corp. (NYSEMFW), formerly Power Control Technologies, Inc., was incorporated in Delaware on June 1, 1988[2] and is a NYSE listed public holding company that is a part of the Ronald O. Perelman group of companies being partially owned by MacAndrews & Forbes through Mafco Holdings.

History[edit]

Mafco Holdings acquired then merged Abex, Inc., an aircraft control system & hydraulic pump manufacturer, into a Mafco subsidiary in 1995 while the aerospace subsidiary, Power Control Technologies Inc., which became publicly traded. Powers Control then acquired in 1996 Flavors Holdings Inc. for $180 million included the licorice business subsidiary, Mafco Worldwide Corp. A Abex, Inc. subsidiary, Pneumo Abex Inc., merged through multiple transactions with Mafco Worldwide. Power Control Technologies was renamed M & F Worldwide in 1997. In 2000, Perelman proposed that Mafco Holdings' major share in Panavision Inc. be sold to M & F Worldwide at Mafco Holdings' purchase price but was block by an M & F shareholder as the stock was trading at only 23% of that value.[3]

Subsidiaries[edit]

Name (state of Incorporation)
  • Harland Clarke Holdings Corp.(Delaware) -formerly CA Acquisition Holdings Inc. &
  • Flavors Holdings Inc. Delaware
    • Mafco Worldwide Corporation Delaware
    • Mafco Shanghai Corporation Delaware
    • Pneumo Abex LLC Delaware
    • Pneumo Abex Lessee Corp. Delaware
  • PCT International Holdings Inc. Delaware
  • EVD Holdings Inc. Delaware
  • Concord Pacific Corporation Maine
  • Centralia Holdings Corporation Georgia [5]

Foreign[edit]

Name of Subsidiary Jurisdiction

  • EVD Holdings S.A. France
  • Extraits Vegetaux Et Derives, S.A. France
  • Wei Feng Enterprises Ltd. British Virgin Islands
  • Xianyang Concord Natural Products Co. Ltd. People’s Republic of China
  • Zhangjiagang Free Trade Zone MAFCO Liantai Biotech Co., Ltd. People’s Republic of China
  • Mafco Weihai Green Industry of Science and Technology Co. Ltd. (40% owned) People’s Republic of China
  • Scantron Canada, Ltd. Canada
  • Harland Israel Ltd. Israel
  • Harland Financial Solutions Worldwide Limited Ireland [5]

Recent news[edit]

In July 2013, the firm’s main subsidiary, Harland Clarke, agreed to sell Harland Financial Solutions to Davis & Henderson for $1.2 billion.[6]

References[edit]

  1. ^ a b "New Brand in Financial Services Brings Industry's Most Expansive Lineup of Checks and Payment Products to its Clients". Harland Clarke Press Releases. Retrieved 2008-05-21. 
  2. ^ M & F WORLDWIDE CORP (1997-12-31). 10-K ANNUAL REPORT (text). SEC. p. 1. Retrieved 2008-05-21. 
  3. ^ "M & F Worldwide Corp. -- Company History". Funding Universe Company Histories. Retrieved 2008-05-28. 
  4. ^ M & F WORLDWIDE CORP. (2007-12-31). FORM 10-K ANNUAL REPORT. secinfo.com. Retrieved 2008-05-20. 
  5. ^ a b Form 10-K Annual Report EX-21.1 SUBSIDIARIES. SEC. 2007-12-31. p. 1. Retrieved 2008-05-20. 
  6. ^ Euan Rocha (23 July 2013). "Davis + Henderson to buy Harland Financial for $1.2 billion". Reuters.