Enterprise Ventures Corporation Awarded $1.5 Million Contract to Provide Spare Parts for the Carriage, Stream, Tow & Recovery System

JOHNSTOWN, Pa., May 29, 2015 (GLOBE NEWSWIRE) -- Enterprise Ventures Corporation (EVC) has been awarded a $1.5 million contract from Defense Logistics Agency (DLA) Aviation to provide spare parts for the Carriage, Stream, Tow & Recovery System (CSTRS). EVC has been producing CSTRS units since 2012.

EVC is a wholly owned affiliate of Concurrent Technologies Corporation (CTC). "CSTRS began as a development program at CTC in 1999 and it moved from development through Navy testing under their leadership," said David A. Schario, President of EVC and CTC's Vice President, Services. "EVC is the production arm of CTC and has been producing the CSTRS units for our client."
 
The U.S. Navy's Organic Airborne Mine Countermeasures (OAMCM) program, including the MH-60S helicopter-mounted CSTRS capability, enables the U.S. Navy's Littoral Combat Ships to readily respond to mine threats, providing an extra measure of safety for crew and ships.
 
"The spare parts are critical to keeping the Navy's maintenance cycle as short as possible," said Ed Peretin, CSTRS Program Manager. "This contract focuses on manufacturing CSTRS parts to be used for future Naval repair and maintenance needs."
 
Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied scientific research and development professional services organization providing innovative management and technology-based solutions to government and industry. As a nonprofit 501(c)(3) organization, CTC's primary purpose and programs are to undertake applied scientific research and development activities that serve the public interest. CTC has been named one of the World's Most Ethical Companies by Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices.  In addition, CTC has been named a Best for Vets Employer by Military Times. For more information about CTC, visit www.ctc.com.
 
Enterprise Ventures Corporation (EVC) is a wholly owned affiliate of CTC. The mission of EVC is to transfer advanced technologies designed and created by CTC and others to the industrial base and to deliver high-quality products and services to its clients. For more information, visit www.evc.ctc.com.
 
This material is based upon work supported by the Naval Surface Warfare Center Panama City Division under Contract No. N61331-14-D-0010. Any opinions, findings and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the Naval Surface Warfare Center Panama City Division.