Abstract: An improved punch drive means and control means for a punch assembly adapted for preparation of flexible film products. The punch drive means includes a double acting cylinder with a piston and ram operatively associated therewith, and a film slug ejecting means is provided for utilization with the punch. The double acting cylinder for the punch drive means is provided with a control valve which receives compressed air from an air manifold for controlled actuation of the drive cylinder. The film slug ejecting means is provided with a separate control valve which is also coupled to the air manifold, and means are provided for controlling the delivery of compressed air from the manifold to the ejecting port located in the punch.