PMX Industries, Inc.

PMX Industries, Inc., a Cedar Rapids, Iowa-based foreign-owned manufacturer and subsidiary of South Korean company Poongsan Corporation, manufactures precision base metals strip for the United States Mint as a prime contractor operating under full-and-open competition with no set-aside designations. The company is the sole supplier of copper, nickel, and zinc compositions in rolled and drawn forms essential for U.S. circulating coinage production across all denominations—quarters, dimes, nickels, and pennies.

PMX's federal footprint is narrow but deep: 431 prime awards totaling $11.67 billion in combined potential value, with the Department of the Treasury's United States Mint accounting for 89% of awards (382 delivery orders) and $7.07 billion in combined potential value. All work is performed at PMX's Cedar Rapids facility. The Mint issues delivery orders on a monthly or near-monthly cadence under a $2.3 billion multiple-award indefinite delivery contract awarded February 1, 2023, and running through September 30, 2032. Individual delivery orders range from approximately $250,000 to $19.96 million; recent examples include a $21.9 million order issued September 1, 2026, a $13.2 million order issued August 3, 2026, an $11.6 million order issued July 1, 2026, and a $14.67 million order issued April 2, 2025. Modifications to delivery orders routinely address quantity adjustments, weekly production funding allocations, routing changes between Philadelphia and Denver mint locations, and de-obligation adjustments tied to quarterly open obligations reporting cycles.

PMX's top parent vehicles reflect its historical relationship with the Mint: Indefinite Delivery Contract TMK0202 carries 67 task orders and $4.81 billion in combined potential value; Indefinite Delivery Contract 2031JG18D00002 carries 81 task orders and $814 million; and a Base Metal and Strip contract from 2012–2017 generated 84 task orders and $751 million. The company's NAICS footprint tracks exclusively to nonferrous metal rolling and drawing work (Copper Rolling, Drawing, and Extruding: 148 awards; Copper Rolling, Drawing, Extruding, and Alloying: 130 awards; Nonferrous Metal Rolling, Drawing, and Extruding: 85 awards), with a single outlier in Knit Fabric Mills (11 awards). PSC concentration is equally focused: Plate, Sheet, Strip, and Foil; Nonferrous Base Metal covers 331 awards; Nonferrous Base Metal Refinery and Intermediate Forms covers 98 awards.

Activity is stable: 14 awards in 2023, 12 in 2024, 12 in 2025, and 10 in 2026 year-to-date. PMX has no subcontractor footprint—all 431 awards are prime contracts. The company has held a continuous federal customer relationship with the Mint since at least 2021, and the historical IDV portfolio (contracts running from 2012 through 2032) signals entrenched supplier status supporting the nation's circulating coin production program. With 30% of its combined potential value obligated to date and a single-customer concentration posture, PMX operates as a captive, sole-source supplier in a non-competitive market segment.