We used to use those, back in the bad old times. basically, it's a router with a blade on it that is used to trim the leads of PTH components that are mounted on boards.
Nasty process. Difficult to control. Messy, firing cut leads all over the place. Dangerous for employees. Blades dulled easily, leaving flags and folder-over leads. Cut and damaged solder connections.
Go buy lead forming equipment from
* HEPCO, Inc. HEPCO, Inc. is the world's leading manufacturer of Component Lead Prep, BGA Reballing, and RoHS/WEEE & Lead-Free Testing Equipment. Sunnyvale, California, USA Assembly, Component Preparation, Manufacturer of Assembly Equipment, Repair/Rework,Test Services
* Fancort Industries, Inc. Fancort Industries products include cutting equipment, bench air presses, and racks and fixtures. West Caldwell, , New Jersey, USA Manufacturer of Assembly Equipment
* DDM Novastar Turnkey SMT assembly solutions, manual & automated stencil printers, manual & automatic pick & place systems with dispensers, wave solder & selective solder machines, lead free solder reflow ovens, component counters, & thru-hole King of Prussia, Pennsylvania, USA Manufacturer of Assembly Equipment, Pick and Place, Screen Printing, Soldering, Turnkey
* Versatec Authorized manufacturer, re-manufacturer and service center of Contact Systems CS-400 Series Through Hole Cut & Clinch insertion machines and C3 and C5 First Generation Series SMT placement PCB assembly machines. Danbury, Connecticut, USA Manufacturer of Assembly Equipment, OEM, Pick and Place, Repair/Rework, Service Provider
* GPD Global A Manufacturer of High Quality, Precision, Automated Fluid Dispensing and Component-Prep Systems. Grand Junction, Colorado, USA Adhesives/Dispensing, Component Preparation, Manufacturer of Assembly Equipment, OEM
* 1st Place Machinery Inc. A dealer of high quality Used SMT Equipment, Used Plastic Injection Molding Equipment, Used Machine Tools, Used Semiconductor Machinery, and Used Industrial Machinery. Middleton, Massachusetts, USA Equipment Dealer / Broker
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