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.