This 2 3/8” magnetic bit holder enables standard bits to be used with Centrotec Chuck and the Centrotec shank is designed for use with all standard or keyless chucks for no-slip performance. The Centrotec System provides a seamless transfer of force, eliminating bit slippage or marring of the drill bit. It reduces the weight of the drill by nearly ½ pound, and the length by nearly 1-1/2”. Most importantly, the Centrotec system offers a quicker and more secure means of bit change than any other quick-change chuck system.