Abstract: This invention provides a packaging arrangement for cutting tools such as drill bits in which a collar is placed on the shank of the tool, and the shank of the tool is fitted into opposed slots in parallel walls in a receptacle with the collar received between and frictionally gripped by the walls so as to suspend the tool in the receptacle spaced from the receptacle walls. A lid member fits over the receptacle and has an element extending over the tool to prevent the tool from being dislodged from the slots.

Abstract: This invention provides a drill, drilling apparatus, and methods for their use, in which a plastic shank of uniform external diameter is molded onto one end of an insert made of hard drill material. The end of the insert which is encompassed by plastic has dimensions and configurations designed to prevent axial and rotational slippage of the insert inside the plastic shank when the drill is in use. The unattached end of the insert is provided with a cutting tip and drilling flutes. High speed automatic drilling and drill-changing operations are described in which a number of drills having different flute diameters, but uniform shank diameters, are used consecutively.