Abstract: In combination with automatic storage and retrieval system having a continuous track which supports a continuous rotating storage unit to move therearound in a horizontal direction, the rotating storage unit including a plurality of horizontally spaced shelves arranged vertically into columns, a conveyor system mounted adjacent the rotating storage unit for moving storage bins towards and away from the rotating storage unit, and an elevator mounted in a fixed position between the rotating storage unit and the conveyor system; a platform mounted in the elevator for vertical movement up and down adjacent the rotating storage unit, an extraction and insertion arm assembly slidably mounted on the platform, the arm assembly including a pair of longitudinally disposed extractor arms having the forward ends extending towards the rotating storage units, a motor for driving the arm assembly in a horizontal direction towards and away from the rotating storage unit for bin placement in and withdrawal from a preselected