Friedman Industries, Incorporated is engaged in steel processing, pipe manufacturing and processing, and steel and pipe distribution. The Company has two product groups: coil and tubular products. The Company purchases hot-rolled steel coils, processes the coils into flat, finished sheet and plate and sells these products on a wholesale. The Company also processes customer-owned coils on a fee basis. The steel coils are processed through cut-to-length lines, which level the steel and cut it to prescribed lengths. In addition, the Company operates steel temper mills, which improve the flatness and surface qualities of hot-rolled steel. The Company�s processing machinery is heavy, mill-type equipment capable of processing steel coils weighing up to 25 tons. Through its Texas Tubular Products Division (TTP) in Lone Star, Texas, the Company manufactures, purchases, processes and markets tubular products. TTP operates two pipe mills.