The present invention relates to a cutting tool which is utilized to sever a cylindrical body such as a cylindrical shroud of a factory-sealed vehicular suspension system of the type commonly referred to as a MacPherson strut suspension system. The tool is designed with a construction which permits the tool to sever the cylindrical shroud while the shroud remains attached to the vehicle. The tool comprises an upper control mechanism which is mechanically coupled to a lower cutting assembly by means of a pair of coaxial elongate tubes. The lower cutting assembly includes a plurality of circumferentially spaced, rotatable cutting wheels which are radially movable between a retracted position and an expanded position. The upper control mechanism determines the radial position of the cutting wheels by controlling the relative rotative position between the two elongate tubes. The upper control mechanism is used to rotate the cutting assembly about the upper end of the cylindrical shroud while simultaneously advancing the cutting wheels into engagement with the shroud. The upper control mechanism is provided with a release assembly which enables an operator to quickly move the cutting wheels between the retracted and expanded positions.