Method and apparatus for forming an annular article from a circular blank. The blank is held in a rotatable chuck such that a peripheral portion of the blank is spaced from the chuck while rotated about an axis of revolution thereof. A work roller edge conditions the peripheral blank portion by engagement therewith under sufficient force and for a sufficient cycle time to impart an upset condition thereto. The blank edge surface is smoothed and hardened by the work roller to a given rounded curvature in radial cross section and a controlled thickness increase is obtained in the blank peripheral portion, the maximum thickness occurring at the rounded curvature edge surface. The work roller has an external circumferential groove with an entrance wider axially of the roller than the starting axial dimension of said peripheral portion of said blank. The roller is moved in a direction perpendicular to its rotational axis with the roller groove centered on the blank edge. The roller groove has a rounded root surface with a radius of curvature slightly greater than the axial starting thickness of the engaged edge of said blank, the thickness contour increase being terminated when said upset peripheral portion bottoms in said roller groove. Thereafter the peripheral blank portion is draw spun with a first spinning roller while spaced from the mandrel surface so as to reduce the thickness contour of said peripheral portion to said preselected thickness contour. The edge work roller and first spin roller are both fixedly mounted on a common tool slide and juxtaposed relative to one another and the starting position of the blank when so chucked such that the rollers have mutually non-interferring travel paths relative to the blank throughout the respective work cycle motions of the rollers.