A machine tool is provided having a spindle mounted for movement in a direction parallel to the spindle axis, the Z direction, and a direction perpendicular to the spindle axis, the X direction. The machine tool includes a machine bed and has means mounted to the machine bed for supporting at least one tool. At least one spindle is rotatably supported on the machine bed and includes a chuck for supporting a workpiece. The machine tool includes means mounting the spindle to the machine bed for movement in the Z direction and for independent movement in the X direction. Accordingly, the workpiece supporting means may be moved proximate to the tool supporting means and the workpiece may be engaged by a tool. The machine tool may further include feeder means for feeding bar stock to the workpiece supporting means so that the bar stock may be engaged by a tool. The machine tool may also include workpiece transfer means for facilitating the transfer of workpieces to and from the workpiece supporting means.