An apparatus for soldering, leveling and cooling printed circuit panels including a preheater, a fluxer, and soldering, leveling and cooling stations. The cooperation of the soldering, leveling and cooling stations provides for efficient processing of printed circuit panels. The soldering station, which includes a solder immersion chamber through which the panels are conveyed, provides an oil coating on the solder to minimize formation of dross. Automatic replenishment of oil through use of suitable flux on the panels to be soldered provide continuous cleaning of the soldering system to permit extended operation. A cooling table transports the soldered panels on a cushion of air to prevent marring.