A thread forming device for compression molding comprises a base positioned adjacent a compression molding device, a plurality of posts extending from the base, a carrier moveable along the posts and supporting at least one rotatable threaded shaft, each shaft being configured for forming a threaded bore during compression molding of a part, an assembly for rotatably driving the at least one threaded shaft for unthreading the at least one threaded shaft from the part, and one or more biasing members configured to push the carrier away from the base once the at least one threaded shaft is unthreaded from the part.