Abstract: A wrap ring assembly for cooperation with an associated forging press which includes a punch having a first cavity and means for moving the punch up and down which includes a punch holder. The apparatus includes a wrap ring having a bore therein and means for carrying the wrap ring on the punch holder which allows relative motion therebetween and which includes biasing means for urging the punch holder and the wrap ring apart. A wrap die is dimensioned for cooperation with the punch and has an exterior surface dimensioned for cooperation with the bore of the wrap ring. The apparatus may further include means for gripping the wrap ring and urging the wrap ring away from the punch holder. The apparatus may further include means for heating the wrap ring at least before the initiation of forging operations.