Abstract: A die assembly (2) which operates in a single stroke, both to draw and to trim a deformable sheet material such as sheet metal including relatively reciprocal upper and lower die sections (10,14) for draw forming a port and a trimming means (26), movable in a direction perpendicular to the relative reciprocal motion of the upper and lower die section (10,14), for cutting away a portion of the drawn material. The die assembly may include a fixed draw punch (18) over which the sheet material is drawn and a draw ring (52) shaped to complement the exterior shape of the draw punch (18) and to telescopically advance over the draw punch (18) during the drawing operation. At the end of the drawing operation, the draw ring (52) is positioned adjacent a trim punch (28) mounted on the lower die section (10).