Short answer: `R8-ER32` is a R8 machine-taper holder fitted with an ER32 collet chuck; it holds tools from 1 mm to 20 mm shank diameter. The R8 end goes into the spindle (R8 shank, common on Bridgeport-type milling machines), the ER32 end grips the tool.

Collet range is set by DIN 6499. A 12 mm end mill needs ER32 or larger; an ER32 will not close on a shank outside 1–20 mm.