Adjustable length conveyor system

A conveyor assembly and method for conveying and storing a strip material in a conveyor system that is subject to changes in length of the strip material due to intermittent operation includes an upper conveyor (16), an adjustable substantially horizontal center conveyor (22) for receiving the strip material (34) from the upper conveyor, and a lower conveyor (28) for receiving the associated strip material from the center conveyor. A computer (94) controls the movement and rotation of the center conveyor, and loop detecting apparatus on the center conveyor may also detect a loop (90) in the strip material carried by the center conveyor and thereby detecting changes in length of the strip material not predetermined by the computer. A servomechanism (100) activated by signals from the computer or the loop detecting apparatus moves the center conveyor in a substantially horizontal direction.