Abstract: A system is disclosed for manufacturing fully mitered step lap transformer cores which are formed from separate sheets which are laid face to face to form the separate pieces of the core. The system includes an X-shaped shear arrangement including four blades lying on an X-shape and meeting at a center point. Upstream of the X-shear is provided a hole punch so the punched hole can be moved to the center point of the X-shear and any two, three or four of the blades actuated to provide a required shape in the material to be cut. The X-shear allows the formation sequentially of all of the five sheets necessary for the core and then these are stacked simultaneously by a lifting carriage which lifts each sheet in turn while orienting it properly relative to the other sheets carried to form a single layer of the core which is then deposited upon a stacking table.