An apparatus for forming a panel of interconnected tubular vanes and cord ladders for use in a Venetian blind includes a vane-forming system where a strip of vane material is supplied, folded, and pressed into a desired configuration prior to being cut to a predetermined length. The length is determined by the width of the panel to be formed and is effected by a vane-sizing system including a template for positioning a plurality of cord ladder assemblies at predetermined locations for connection to tubular slats formed upstream from the assemblies. The tubular vane material has inert adhesive along a flap on one edge which is heated to activate the adhesive and after having been folded along a generally longitudinal centerline, the flap is folded over the corresponding upper edge of the vane and secured thereto in a sliding compressor. Within a panel-assembly system, a desired number of cord ladders are processed by spreading the cord ladders to permit the insertion of previously formed tubular vanes which are connected to the rungs of the cord ladders by pairs of adhesive application devices which place a spot of adhesive on a rung in overlying relationship with the tubular vane to secure the rung to the vane. The spots of adhesive are dried with gas dryers as the vanes are sequentially lifted after having been inserted into the cord ladders and secured thereto.