Treasury's $29.7M Contract for Coinage Metal Awarded to Wieland Rolled Products
Contract Overview
Contract Amount: $29,693,045 ($29.7M)
Contractor: Wieland Rolled Products North America, LLC
Awarding Agency: Department of the Treasury
Start Date: 2020-07-01
End Date: 2021-09-09
Contract Duration: 435 days
Daily Burn Rate: $68.3K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 2
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: PROVIDE STRIP AND METAL FOR CIRCULATING COINAGE.
Place of Performance
Location: LOUISVILLE, JEFFERSON County, KENTUCKY, 40241
State: Kentucky Government Spending
Plain-Language Summary
Department of the Treasury obligated $29.7 million to WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC for work described as: PROVIDE STRIP AND METAL FOR CIRCULATING COINAGE. Key points: 1. The contract is for essential materials used in producing U.S. currency. 2. Wieland Rolled Products North America, LLC is the sole awardee for this specific order. 3. The contract value is significant, reflecting the scale of coinage production. 4. This spending supports the Department of the Treasury's operational needs for the U.S. Mint.
Value Assessment
Rating: good
The contract value of $29.7 million appears reasonable for the specified materials and duration, considering the specialized nature of coinage metal production. Benchmarking against similar contracts for metal rolling services would provide further clarity.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, suggesting a competitive bidding process. This method is generally expected to yield fair pricing and good value for the government.
Taxpayer Impact: Taxpayer funds are used efficiently through a competitive process for essential government operations.
Public Impact
Ensures the continuous supply of metal for circulating U.S. coins. Supports the economic function of providing currency for transactions. The quality of the metal directly impacts the durability and appearance of coins.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for price fluctuations in raw metal markets.
- Dependence on a single supplier for this specific order.
Positive Signals
- Awarded through full and open competition.
- Supports a critical government function (coinage production).
Sector Analysis
This contract falls within the manufacturing and materials sector, specifically related to metal processing. Spending benchmarks for similar government contracts involving specialized metal rolling services are not readily available but are typically driven by commodity prices and processing complexity.
Small Business Impact
The data does not indicate any specific set-asides for small businesses. The awardee, Wieland Rolled Products North America, LLC, is a significant industrial entity, suggesting this contract was likely not awarded to a small business.
Oversight & Accountability
The contract was awarded by the Department of the Treasury to the United States Mint, indicating internal oversight. Further oversight would involve monitoring delivery, quality, and adherence to contract terms.
Related Government Programs
- Copper Rolling, Drawing, Extruding, and Alloying
- Department of the Treasury Contracting
- United States Mint Programs
Risk Flags
- Material price volatility
- Supplier performance risk
- Dependence on specific metal composition
- Potential for supply chain disruptions
Tags
copper-rolling-drawing-extruding-and-all, department-of-the-treasury, ky, delivery-order, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Treasury awarded $29.7 million to WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC. PROVIDE STRIP AND METAL FOR CIRCULATING COINAGE.
Who is the contractor on this award?
The obligated recipient is WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC.
Which agency awarded this contract?
Awarding agency: Department of the Treasury (United States Mint).
What is the total obligated amount?
The obligated amount is $29.7 million.
What is the period of performance?
Start: 2020-07-01. End: 2021-09-09.
What is the specific type of copper alloy used and its market price at the time of award?
The specific copper alloy is not detailed in the provided data, nor is the market price at the time of award. Understanding these details would allow for a more precise assessment of the value and potential cost savings or overruns related to commodity price volatility.
Were there any performance issues or quality concerns raised during the contract period?
The provided data does not contain information regarding performance or quality issues. A thorough review of contract performance reports and any associated documentation would be necessary to assess if the supplier met all specifications and delivery timelines without incident.
How does the per-unit cost of this coinage metal compare to historical contracts or international benchmarks?
Without specific per-unit cost data or access to historical contract information and international benchmarks for coinage metal, a direct comparison is not possible. Such analysis would require detailed cost breakdowns and market intelligence to determine if the pricing was competitive and represented good value.
Industry Classification
NAICS: Manufacturing › Nonferrous Metal (except Aluminum) Production and Processing › Copper Rolling, Drawing, Extruding, and Alloying
Product/Service Code: METAL BARS, SHEETS, SHAPES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Offers Received: 2
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Parent Company: Schwenk Donau Gmbh & CO. KG
Address: 4801 OLYMPIA PARK PLZ STE 3500, LOUISVILLE, KY, 40241
Business Categories: Category Business, Limited Liability Corporation, Manufacturer of Goods, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $29,693,045
Exercised Options: $29,693,045
Current Obligation: $29,693,045
Contract Characteristics
Commercial Item: COMMERCIAL ITEM
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: 2031JG18D00001
IDV Type: IDC
Timeline
Start Date: 2020-07-01
Current End Date: 2021-09-09
Potential End Date: 2021-09-09 00:00:00
Last Modified: 2022-04-02
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