Modern developments in forging equipment and techniques are combining to make the dimensional accuracy and surface quality of forged stock comparable with that of rolled products. The output of a conventional press forge, employed on the cogging of alloy steels, is comparatively modest, being of the order of 10 000 tons/annum, as compared with a rolling mill installation which has a capacity in the range 500 000 to 1 000 000 tons/annum. It follows that, for production requirements between these two extremes, a high productivity cogging forge unit costing substantially less than a cogging mill should prove to be a worthwhile investment for many alloy steel producers. This paper contains an account of a design study of a forging machine with an output of 50 000 tons/annum capable of cogging alloy steel ingots down to billets or bars. The performance is based on current industrial requirements and the design concept calls for a machine in which the forging and manipulative functions are fully integrated and controlled. To achieve this, new features in press design and manipulative equipment have been evolved. It is concluded that a specialized high productivity cogging unit is a practical and economic proposition for the range and quality of steels considered.