Tire bead setter apparatus and method

A bead setter applier assembly (10) for positioning a tire bead (50) around a tire casing on a tire building drum wherein the assembly (10) has an annular frame member (12), a plurality of clamp segments (16) and a plurality of magnetic segments (34) pivotally mounted on the frame member (12). The bead ring (50) is placed on the magnetic segments (34) which have been rotated radially inward. The clamp segments (16) are rotated radially inward into engagement with the bead ring (50) to position the bead ring (50) in a location concentric with the central axis (A-A) of the assembly (10) and hold the bead ring (50). The magnetic segments (34) are then rotated radially outward out of engagement with the bead ring (50). After the tire casing is expanded into contact with the bead ring (50), the clamp segments (16) are retracted so that the assembly (10) can be moved away from the drum.