To provide a lathe which does not need to be stopped in order to introduce a next log, and can save time.
A vertical guide pair, and first and second supporting walls for supporting the vertical guide pair which is located at a higher position than the vertical guide pair, and a frame which supports a horizontal guide pair are provided. A trunnion is attached to the vertical guide pair, and a log peeling assembly is supported. A structure which supports an auxiliary electric roller is attached to the vertical guide pair on the upper side. First and second spindle/assemblies are attached to the horizontal guide pair, and move between a first working position where a log to be peeled is gripped and rotated, and a second working position where the log is continuously rotated to knives of the log peeling assemblies, and veneers are produced. When the log has reached a specified diameter, the first and second spindle/assemblies release the log, and return to the first working position in order to grip a next log. In the meantime, the released log is rotated and continuously peeled until reaching a minimum core diameter.
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