FRIEDMAN INDUSTRIES INC

FRIEDMAN INDUSTRIES INC is a Texas corporation, incorporated in 1965, that manufactures and processes metals. The company operates in two reportable segments: flat-roll products and tubular products. The flat-roll product segment includes flat-roll processing facilities in Hickman, Arkansas; Decatur, Alabama; Miami, Florida; East Chicago, Indiana; Granite City, Illinois; and Sinton, Texas. It also has a flat-roll distribution facility in Orlando, Florida. The Hickman, Granite City, and East Chicago facilities operate temper mills and cut-to-length lines. The Decatur and Sinton facilities use stretcher leveler cut-to-length lines, while the Miami facility operates a corrective leveling cut-to-length line and a coil slitting line. This processing equipment enhances material quality and cuts material into sheet, plate, or slit coil. Combined, these facilities can cut sheet and plate from 30 gauge to 1" thick and 11" wide to 96" wide. The flat-roll segment can also produce slit coil from 32 gauge to 10 gauge in thickness, and from 1/2" wide to 60" wide. The Granite City facility further processes flat-roll sheet and plate into customer parts using a fiber laser. Most of the flat-roll product segment's revenue comes from selling company-owned inventory, but it also earns revenue by processing or storing customer-owned material on a fee basis. The coil processing facilities are largely similar in the products they produce. Product shipments are determined by which facility offers the desired product, or, if available at multiple locations, by factors like customer location, freight conditions, and timely order fulfillment.