Treasury's $43M Contract for Base Metals Strip Awarded to Wieland Rolled Products
Contract Overview
Contract Amount: $42,963,065 ($43.0M)
Contractor: Wieland Rolled Products North America, LLC
Awarding Agency: Department of the Treasury
Start Date: 2023-03-16
End Date: 2023-05-05
Contract Duration: 50 days
Daily Burn Rate: $859.3K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 2
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: PROVIDE BASE METALS STRIP FOR CIRCULATING COINAGE.
Place of Performance
Location: LOUISVILLE, JEFFERSON County, KENTUCKY, 40241
State: Kentucky Government Spending
Plain-Language Summary
Department of the Treasury obligated $43.0 million to WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC for work described as: PROVIDE BASE METALS STRIP FOR CIRCULATING COINAGE. Key points: 1. The contract focuses on providing base metals strip essential for circulating coinage. 2. Wieland Rolled Products North America, LLC secured the award. 3. The contract value is approximately $42.96 million. 4. The primary sector is manufacturing, specifically related to metals and coinage production.
Value Assessment
Rating: good
The contract's firm fixed price structure suggests a clear understanding of costs. Benchmarking against similar contracts for metal strip procurement would provide further insight into its value.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The award was made under full and open competition, indicating a competitive bidding process. This method is expected to yield fair market prices for the required base metals strip.
Taxpayer Impact: The competitive nature of this award should ensure taxpayer funds are used efficiently for essential coinage materials.
Public Impact
Ensures the continued production of circulating U.S. coinage. Supports the supply chain for essential government functions. Impacts the availability of currency for everyday transactions.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Positive Signals
- Full and open competition utilized.
- Firm fixed price contract type.
- Essential government function supported.
Sector Analysis
This contract falls within the manufacturing sector, specifically dealing with non-ferrous metal rolling and processing. Spending benchmarks for similar metal supply contracts would be relevant for comparison.
Small Business Impact
The data indicates that small business participation was not a factor in this specific award, as the prime contractor is Wieland Rolled Products North America, LLC. Further analysis would be needed to determine if subcontracting opportunities exist for small businesses.
Oversight & Accountability
The award was made by the Department of the Treasury, United States Mint, suggesting established oversight processes. The firm fixed price contract type provides a degree of cost control.
Related Government Programs
- Copper Rolling, Drawing, Extruding, and Alloying
- Department of the Treasury Contracting
- United States Mint Programs
Risk Flags
- Potential for commodity price volatility impacting long-term cost.
- Dependence on a single supplier for a critical component.
- Ensuring consistent quality of rolled metal strip.
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 $43.0 million to WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC. PROVIDE BASE METALS STRIP 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 $43.0 million.
What is the period of performance?
Start: 2023-03-16. End: 2023-05-05.
What is the historical price trend for base metals strip used in coinage?
Analyzing historical price trends for copper and other base metals used in coinage is crucial. Fluctuations in commodity markets can significantly impact the cost of raw materials. Understanding these trends helps assess whether the current firm fixed price is advantageous or if there's potential for future cost savings or overruns.
What are the quality control and material specifications for the base metals strip?
Ensuring the base metals strip meets stringent quality control and material specifications is paramount for coinage production. The United States Mint likely has detailed requirements. Verifying adherence to these standards mitigates risks associated with material defects that could disrupt coin production or lead to premature wear of the circulating currency.
How does this contract's unit price compare to previous procurements of similar materials?
Comparing the unit price of this contract to previous procurements of similar base metals strip is essential for value assessment. While full and open competition suggests a fair price, historical data can reveal cost efficiencies or potential escalations. This comparison helps determine if the current pricing is competitive and reflects market conditions effectively.
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
Address: 4801 OLYMPIA PARK PLZ STE 3500, LOUISVILLE, KY, 40241
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Limited Liability Corporation, Manufacturer of Goods, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $42,963,065
Exercised Options: $42,963,065
Current Obligation: $42,963,065
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: 2031JG23D00001
IDV Type: IDC
Timeline
Start Date: 2023-03-16
Current End Date: 2023-05-05
Potential End Date: 2023-05-05 00:00:00
Last Modified: 2026-03-12
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