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Cold forging is a metal forming process where a slug or blank is deformed at or at near room temperature. Cold forged parts can be produced using one or more single station vertical mechanical or hydraulic presses, or automated multi-station cold forming machines where the pre-formed part is transferred from one station to the next at high speed with each station performing a specific cold forming process. Cold forging is a reliable and cost efficient process because it can be used to produce parts of superior mechanical properties without or minimum waste of material.