Treasury's Mint Awards $37.1M Contract for Base Metals Strip to Wieland Rolled Products
Contract Overview
Contract Amount: $37,135,849 ($37.1M)
Contractor: Wieland Rolled Products North America, LLC
Awarding Agency: Department of the Treasury
Start Date: 2023-05-12
End Date: 2023-07-05
Contract Duration: 54 days
Daily Burn Rate: $687.7K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 2
Pricing Type: FIRM FIXED PRICE
Sector: Manufacturing
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 $37.1 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 essential base metals strip for circulating coinage. 2. Wieland Rolled Products North America, LLC secured the award. 3. The award was made under full and open competition, suggesting a competitive bidding process. 4. The contract value is $37,135,848.87 with a duration of 54 days.
Value Assessment
Rating: good
The contract is a firm fixed price delivery order. Without specific per-unit cost data or historical benchmarks for this exact material specification, a precise value assessment is challenging. However, the competitive nature of the award suggests a reasonable price was achieved.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, indicating that multiple vendors had the opportunity to bid. This method typically fosters price discovery and can lead to more competitive pricing for the government.
Taxpayer Impact: The competitive award process is expected to ensure taxpayer funds are used efficiently for essential coinage materials.
Public Impact
Ensures the continuous supply of raw materials for U.S. currency. Supports the operational needs of the United States Mint. Impacts the availability and quality of circulating coins for the public. The contract duration is relatively short, suggesting a specific production need.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Short contract duration may indicate a potential for future, longer-term needs or supply chain vulnerabilities.
- Lack of detailed cost breakdown makes it difficult to assess cost-effectiveness beyond the competitive award.
Positive Signals
- Awarded under full and open competition.
- Firm fixed price contract provides cost certainty.
- Supports a critical government function (coinage production).
Sector Analysis
This contract falls within the manufacturing sector, specifically related to metal rolling and processing. Spending benchmarks for base metals strip for coinage can vary significantly based on market prices for raw materials and specific alloy requirements.
Small Business Impact
The data indicates that the awardee is Wieland Rolled Products North America, LLC. There is no specific information provided regarding small business participation or subcontracting in this award notice.
Oversight & Accountability
The award was made by the Department of the Treasury's United States Mint, a federal agency with established procurement processes. Oversight would typically involve contract management to ensure timely delivery and adherence to specifications.
Related Government Programs
- Copper Rolling, Drawing, Extruding, and Alloying
- Department of the Treasury Contracting
- United States Mint Programs
Risk Flags
- Short contract duration
- Limited visibility into specific cost components
- Potential for future supply chain dependencies
- Reliance on commodity market fluctuations for raw materials
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 $37.1 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 $37.1 million.
What is the period of performance?
Start: 2023-05-12. End: 2023-07-05.
What is the historical pricing trend for base metals strip used in coinage, and how does this award compare?
Historical pricing for base metals strip is influenced by global commodity markets for copper and other alloying metals. Without specific alloy composition and historical bid data for this contract, a direct comparison is difficult. However, the firm fixed price and full and open competition suggest the government aimed for a competitive market rate at the time of award.
What are the potential risks associated with a short-duration contract for a critical supply like coinage materials?
A short-duration contract, like this 54-day award, could pose risks if it signals a stop-gap measure or if the supplier faces unexpected production issues. It might also necessitate a rapid re-competition process, potentially leading to less favorable terms or supply disruptions if a new contract isn't secured promptly.
How effectively does the competitive bidding process ensure value for money in specialized material procurement for the Mint?
Full and open competition is generally effective in driving value for money by allowing multiple qualified suppliers to bid, fostering price reductions and innovation. For specialized materials like coinage strip, the effectiveness also depends on the clarity of specifications and the ability of the Mint to accurately assess technical compliance alongside price.
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: $37,135,849
Exercised Options: $37,135,849
Current Obligation: $37,135,849
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: 2023-05-12
Current End Date: 2023-07-05
Potential End Date: 2023-07-05 00:00:00
Last Modified: 2025-12-19
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