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Movie Camera Maker Panavision to Go Public

September 24, 1996

Panavision Inc., the Woodland Hills company that has dominated the movie camera business for decades, plans to go public.

In a registration statement filed with the Securities and Exchange Commission, Panavision said it plans to raise about $69 million in its initial public offering.

A company spokesman said the number of shares to be offered for sale and the proposed price of those shares has not been determined.

The company said it would use the proceeds to repay debt, for working capital and for general corporate purposes.

The SEC filing lists $124.7 million of long-term debt.

Panavision and its predecessor companies have designed and manufactured cinematography equipment since 1954.

The firm's cameras are an industry staple, used by most American cinematographers to film motion pictures and television shows.

Among the movies filmed recently with Panavision cameras are "Twister," "Apollo 13" and "Independence Day."

The company has received two Oscars and other awards for scientific and technical achievement.

Panavision reported 1995 net income of $5.56 million on revenue of $95.3 million.

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