This 899/4/1 SB Universal Bit Holder is for the take-up of bits with 1/14" hexagon drive as per DIN ISO 1173-C 6.3.
The retaining ring is there to ensure that the tool fits securely in the holder, and the strong permanent magnet holds them in place.
899/4/1 152x1/4"x152
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This product is from brand Wera, but detailed manufacturer information is not yet available in our database.
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