Abstract: Machine tool apparatus utilizes a tool magazine provided with first plurality of horizontally extending parallel separate compartments disposed vertically one above the other. A plurality of elongated tool units are disposed in the compartments, each compartment containing a like number of units, the units in each compartment being disposed in spaced side by side position across the width of the compartment. Each unit in any compartment is vertically aligned with the correspondingly positioned units in all other compartments. Displaceable, first mechanisms coupled to each unit enable each unit to be separately moveable back and forth along the length of its compartment to either extend the unit out of its compartment into position for subsequent transfer or to retract the corresponding unit back into its compartment.