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Swaging
Swaging is the process of shaping metal by impact, particularly as making a thin part thicker. For instance, the heads on bicycle spokes are produced by "swaging" the end of the spoke wire. Swaging, unlike forging, does not usually involve heating the metal to a high temperature.
Swaged Cranks
Cheaper cranks use swaging as a means of attaching the spider or chainwheel to the right crank.
Better-quality cranks are made with the right crank and spider a single forging or casting, with no joint to fail. Forged cranks are not only more durable, but the chainrings tend to run straighter, providing better shifting performance.
Swaged cranks were formerly common, but are now seen mainly on low-end bicycles. A swaged crank is an iffy proposition on a tandem, a fixed-gear bicycle, or a bicycle with a coaster brake, because applying force in both directions runs a substantial risk of loosening the chainwheel so it freewheels in both directions.


