Abstract: A slitting and winding machine for tape includes a base (12) having a working surface (22) with a tape supply support (20) and a take-up mandrel assembly (80) at opposite ends of the working surface, along with a cutter mechanism (54) between the mandrel assembly and the working surface. A pair of spaced rolls (40) of leader material and a roll (42) of connecting material are supported on the base on one side of the working surface and have adjacent edges overlapping to be drawn over the tape and replace a segment that is previously removed. The mechanism cuts the wide tape into narrow strips and alternate strips are directed across specially designed guide rollers (100) toward respective mandrels of the mandrel assembly. The cutter mechanism includes a grooved roller (60) and a cutter blade support bar (68) that is designed for quick change of cutter blades.