Do both the bandsaw and grinder already have contactors. If so, both probably have N.O. aux. contacts to seal in across the start button. Some contactors already have unused N.C. aux. contacts built in. If not, you should be able to add a N.C. aux. contact block to most. Wire the N.C. from one in series with the N.C. stop (and any N.C. E-STOPS?) of the other. Then it's a matter of first come, first serve. One won't be able to start or stop the other, just prevent it from starting while the other is running. If you are using 120VAC coils with a neutral, you're safer running the START/RUN first, then the STOPS, Interlocks, and any E-STOPS. That way, the interlock contact is usually not energized by the opposite circuit. But I would put signage at each starter, mentioning the interlocks amd the possibilty of being energized...
Let me know if you want me to put up a ladder .
Joe