A method of forming a tapered container in which the container is first redrawn to a partial length having first and second straight sidewall portions interconnected by a transition position and then redrawn to substantially its final length and tapered condition by drawing material from the transition portion. The method also optionally includes an overlength second redraw and a bottom profiling step utilizing the overdrawn portion to form the profile. The apparatus includes a plurality of stations wherein the redrawing is accomplished in the first instance with a tapered punch and straight walled die and in the second instance with a tapered punch and tapered die.