Aspects hereof relate to a multi-part mold assembly for use in manufacturing articles. The mold assembly provides for contouring, shaping and cutting materials to form articles via a continuous single processing operation. The mold assembly includes an upper mold portion with a three-dimensional contouring/shaping portion and a first cutting edge, a lower mold portion with a three-dimensional contouring/shaping portion and a second cutting edge, and a base portion into which the lower mold portion may retract during use. Upon application of a first force, the upper and lower mold portions cooperate to contour/shape a material from which an article is to be formed. Upon application of a second force greater than the first, the first cutting edge and the second cutting edge interact to shear the material that extends beyond the respective cutting edges. The result is an article that is contoured, shaped and cut/trimmed utilizing a single processing operation.