P&F Industries, Inc. (P&F) operates in two primary lines of business, or segments: tools and other products (Tools) and hardware and accessories (Hardware). The Company conducts its Tools business through a wholly owned subsidiary, Continental Tool Group, Inc., which in turn operates through its wholly-owned subsidiaries, Florida Pneumatic Manufacturing Corporation (Florida Pneumatic) and Hy-Tech Machine, Inc. (Hy-Tech). The Company conducts its Hardware business through a wholly owned subsidiary, Countrywide Hardware, Inc. (Countrywide). During the year ended December 31, 2011, Countrywide conducted its business operations through its wholly owned subsidiary, Nationwide Industries, Inc.. Florida Pneumatic imports and sells pneumatic hand tools of its own design, primarily for the retail, industrial and automotive markets. During 2011, it purchased approximately 57% of its pneumatic tools from a Far East manufacturer that owns or represents six individual factories in China.