A magnetic drill press is a machine used to cut holes in I beams and steel plate. A mag drill can cut holes in steel from 5/8" - 4" diameter and 1" - 6" in depth with the proper drill and annular cutter or magnetic drill bits. A mag drill uses a magnet as leverage to bore holes in metal, this allows the user to attach a drill vertically or horizontally when in use. These drills require coolant to be flushed through the system so that the cutter bit does not overheat and get damaged. Some magnetic drills have an option to add a 3 jaw chuck, this allows the user to use the drill as a drill press and use smaller twist drill bits as well. These machines are used by steel fabricators, bridge builders and pipe fabricators.