Abstract: An assembly and method for mechanically skiving a tube to later form into a medical balloon are provided. The assembly includes a blade holder and a tube guide wherein the blade holder retains the blade in a diagonal relationship relative to the tube guide. A lathe assembly includes a mandrel for extending into a lumen of the tube and fitting into the tube guide. The lathe assembly further includes a spinning mechanism that rotates the mandrel relative to the blade for skiving the exterior surface of the polymer tube. The diagonal relationship allows for precise shaping of a transition portion of the tube, which is located between a medially located un-skived portion of tube and two skived portions located at tube ends. Once the tube is skived, a molding process inflates the un-skived portion into a balloon and stretches the transition portion and the skived portions forming a medical balloon.