A rolling mill has roughing, intermediate and finishing roll stands on a first side of a billet reheating furnace, and a breakdown mill on an opposite second side of the furnace. Billets are heated to an elevated rolling temperature in the furnace and are then ejected to the second side of the furnace for rolling in the breakdown mill before being directed back through the furnace for continued rolling into finished products at the first side of the furnace in the roughing, intermediate and finishing roll stands.