This invention is an improved thermoforming process and apparatus for the production of rigid plastic containers. The apparatus employs a molten sheet of thermoplastic material that is processed through two extrusion rolls, thermoformed on the periphery of a rotating form tool, mechanically ejected from the form tool, conveyed to a conventional punch press where the formed articles are trimmed from the sheet then packaged for shipment. The operation of the extruder, extrusion rolls, forming wheel, mechanical ejection and trim stations are operated as a continuous, integrated system.