A cold extrusion process for forming internal gear teeth comprising machining an internal ring gear blank (58) with precision internal and external diameters, mounting the ring on a pilot diameter of a mandrel (62) on which is formed external die teeth (70) having a metal forming region, a metal guiding entrance region and a tapered metal flow exit region, mounting a support ring (68) around the mandrel (62) and the workpiece (58) and pressing the workpiece through the support ring and through the die teeth (70) in sequential steps, the initial step resulting in formation of internal teeth in the workpiece (58) for a substantial axial length of the workpiece and the following step resulting in forcing a subsequent blank against the workpiece (58) by the press (64) which results in full internal tooth formation, the finished gear being removable as the support ring (68) and mandrel (62) are retracted to the original position and as a subsequent workpiece is loaded on the pilot diameter of the mandrel (62).