Abstract: A method and apparatus for assembling a reel having a pair of axially spaced circular flanges provided with facing annular grooves, a plurality of axially extending staves fitted into the grooves to form a cylindrical drum extending coaxially between the flanges, and a plurality of tie rods extending axially through the flanges within the drum to draw the flanges together, the apparatus having an inner ring assembly removably supported on the rods concentrically within the drum; an outer ring assembly releasably supported on and downwardly of the inner ring assembly concentrically therewith and adapted to open circumferentially so as to be removed from the drum; and a plurality of lances releasably engaging the tie rods for threading the rods through one of the flanges.