That is the unit used to punch film without having pre-punched film. Matrix and Pan Matrix film came pre-punched or not, as the case may be, and both the unpunched Matrix film and the separation negatives required punching.

You need a vacuum register plate to go with it. It looks like a huge clipboard with pins for the punched holes and vacuum channels, as well as a connection for the hose. This holds the film down when you expose it.

Then you need a transfer blanket or a vacuum register board to attach the paper and then each Matrix to perform the individual transfers.

So, this is missing 2 parts from what I see, but is nevertheless valuable. I only have the vacuum register board. I rescued it from a trash bin when the dye transfer line was shut down, and was given permission to take it.