A compression molding machine includes a wheel mounted for rotation around a horizontal axis and a plurality of angularly spaced molds disposed around the wheel. Each of the molds includes a first mold segment and a second mold segment disposed radially outwardly of the first mold segment. Each of the second mold segments is movable radially with respect to the associated first mold segment between a radially inner closed position with the first mold segment for compression molding a plastic article, and a radially outer open position spaced from the associated first mold segment for removing a molded article from the mold and placing a mold charge into the mold.