A conveyor apparatus for a leadframe includes a track defining a longitudinally extending passage through which the leadframe travels. A magnetic clamping system arid a plurality of first guide magnets are provided on the track. A gripping device is provided and is securable to the leadframe. At least one clamping magnet and a plurality of second guide magnets are secured to the gripping device. The first and second guide magnets cooperate to move the gripping device in a first direction along the length of the passage. The magnetic clamping system and the at least one clamping magnet cooperate to selectively move the gripping device in a second direction perpendicular to the first direction between a first condition spaced from the track to a second condition magnetically fixed to the track.