Abstract: A tool changer for a machine tool having a toolhead assembly including a spindle with means for detachable securing a tool thereto, generally consisting of at least one means for holding a tool detachably securable to the spindle, pivotally connected to the assembly and angularly displaceable in a plane including the axis of the spindle between a retracted position and an extended position for transferring a tool between the tool holding means and the spindle; and means for angularly displacing the tool holding means between such retracted and extended positions.