A cold forging apparatus for forming complex shapes at a single station includes a pair of confronting multiple function punch assemblies disposed on a common axis. Each of the multiple function punch assemblies includes an inner or a center punch and an outer or ring-shaped punch surrounding and in sliding contact with the inner punch. The apparatus also includes a die holder for positioning a mass or slug of metal between the punches. A computer system controls movement of the punches and is programmable to form parts of different shapes at a single station.
