Abstract: A milling cutter body of basically cylindrical shape has a plurality of grooves of a circular cross-section each of which intersects the envelope surface of the cutter body. These grooves receive insert-carrying cartridges of a corresponding circular cross-section. Each cartridge is adjustably rotatable about an axis of its respective groove and is also axially adjustable along such axis. The groove axes are not parallel to the axis of rotation of the cutter body but are inclined to it. A precise positioning of the parallel land angle of the cutting edges is obtained by turning the cartridge about the groove axis and/or axially adjusting the cart ridge along that axis.