Then as the first ram makes a backward stroke, {HEAD ~ the projected portion} of the blank wire is cut off by {TAIL ~ the cutting punch} 
is cut off by
Then as the first ram makes a backward stroke , { HEAD ~ the projected portion } of the blank wire is cut off by { TAIL ~ the cutting punch }
OTH OTH OTH OTH OTH OTH OTH OTH OTH OTH HEAD HEAD HEAD HEAD HEAD HEAD HEAD OTH OTH OTH OTH REL REL REL REL TAIL TAIL TAIL TAIL TAIL TAIL TAIL