VA awards $9.36M for Bronze Memorial Plaques, MATTHEWS INTERNATIONAL CORPORATION secures contract

Contract Overview

Contract Amount: $9,363,127 ($9.4M)

Contractor: Matthews International Corporation

Awarding Agency: Department of Veterans Affairs

Start Date: 2023-10-01

End Date: 2024-09-30

Contract Duration: 365 days

Daily Burn Rate: $25.7K/day

Competition Type: FULL AND OPEN COMPETITION

Pricing Type: FIXED PRICE WITH ECONOMIC PRICE ADJUSTMENT

Sector: Other

Official Description: BRONZE MEMORIAL PLAQUES, FUND OPT 2

Place of Performance

Location: PITTSBURGH, ALLEGHENY County, PENNSYLVANIA, 15226

State: Pennsylvania Government Spending

Plain-Language Summary

Department of Veterans Affairs obligated $9.4 million to MATTHEWS INTERNATIONAL CORPORATION for work described as: BRONZE MEMORIAL PLAQUES, FUND OPT 2 Key points: 1. Contract awarded to MATTHEWS INTERNATIONAL CORPORATION for memorial plaques. 2. Full and open competition was utilized for this award. 3. The contract value is $9.36 million over one year. 4. The sector is 'Other' due to the specific nature of the product.

Value Assessment

Rating: good

The contract value of $9.36 million for memorial plaques appears reasonable given the fixed-price with economic price adjustment structure. Benchmarking against similar custom memorial contracts is difficult without more specific product details.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

Full and open competition was employed, suggesting a robust price discovery process. This method allows multiple vendors to bid, potentially leading to competitive pricing.

Taxpayer Impact: Taxpayer funds are being used for a specific memorial need, with competition aiming to ensure value for money.

Public Impact

Supports veterans' families by providing lasting memorials. Ensures quality and durability for significant commemorative items. Contributes to the aesthetic and historical preservation of national cemeteries.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Economic price adjustment could lead to cost overruns if material prices increase significantly.
Limited data on specific plaque customization makes direct cost comparison challenging.

Positive Signals

Full and open competition indicates a fair bidding process.
Contract duration of one year allows for flexibility in future procurements.

Sector Analysis

This contract falls under specialized manufacturing, specifically nonferrous metal foundries. Spending in this niche sector is typically project-driven and less standardized than broader industrial categories.

Small Business Impact

The data indicates the awardee is MATTHEWS INTERNATIONAL CORPORATION, a large business. There is no explicit indication of small business participation in this specific award, though the competition was full and open.

Oversight & Accountability

The Department of Veterans Affairs is responsible for this procurement. Standard oversight mechanisms for federal contracts would apply, including performance monitoring and payment verification.

Related Government Programs

Other Nonferrous Metal Foundries (except Die-Casting)
Department of Veterans Affairs Contracting
Department of Veterans Affairs Programs

Risk Flags

Potential for cost increases due to economic price adjustment.
Lack of detailed cost breakdown for granular analysis.
Limited visibility into specific small business subcontracting opportunities.
Specialized nature of the product may limit the pool of truly competitive bidders.

Frequently Asked Questions

What is this federal contract paying for?

Department of Veterans Affairs awarded $9.4 million to MATTHEWS INTERNATIONAL CORPORATION. BRONZE MEMORIAL PLAQUES, FUND OPT 2

Who is the contractor on this award?

The obligated recipient is MATTHEWS INTERNATIONAL CORPORATION.

Which agency awarded this contract?

Awarding agency: Department of Veterans Affairs (Department of Veterans Affairs).

What is the total obligated amount?

The obligated amount is $9.4 million.

What is the period of performance?

Start: 2023-10-01. End: 2024-09-30.

What is the specific breakdown of costs within the $9.36 million award, and how does it compare to industry standards for custom bronze memorial plaques?

The provided data does not detail the cost breakdown. A comprehensive analysis would require access to the contract's line-item details, including material, labor, and overhead costs. Benchmarking against industry standards is challenging without knowing the exact specifications, size, and complexity of the plaques, as well as the economic price adjustment clauses.

What are the potential risks associated with the 'FIXED PRICE WITH ECONOMIC PRICE ADJUSTMENT' contract type for bronze memorial plaques?

The primary risk is potential cost escalation if the price of raw materials, particularly bronze, increases significantly during the contract period. While the economic price adjustment aims to account for this, it can lead to higher-than-anticipated spending for the government if not carefully managed and capped.

How effectively does the 'FULL AND OPEN COMPETITION' method ensure the best value for taxpayer money in procuring specialized memorial items like bronze plaques?

Full and open competition generally promotes best value by encouraging multiple qualified vendors to submit bids, driving down prices and fostering innovation. For specialized items, its effectiveness depends on the clarity of the solicitation's requirements and the ability of a diverse range of suppliers to meet them competitively.

Industry Classification

NAICS: Manufacturing › Foundries › Other Nonferrous Metal Foundries (except Die-Casting)

Product/Service Code: MISCELLANEOUS

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Pricing Type: FIXED PRICE WITH ECONOMIC PRICE ADJUSTMENT (K)

Evaluated Preference: NONE

Contractor Details

Address: 1315 W LIBERTY AVE, PITTSBURGH, PA, 15226

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Manufacturer of Goods, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $9,363,127

Exercised Options: $9,363,127

Current Obligation: $9,363,127

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Parent Contract

Parent Award PIID: 36C78622D0001

IDV Type: IDC

Timeline