Navy Awards Enterprise Ventures Corporation $18 Million Contract to Manufacture Spare Parts for Mine Countermeasure System

Johnstown, PA, Dec. 20, 2022 (GLOBE NEWSWIRE) — The Naval Supply Systems Command (NAVSUP) has awarded Enterprise Ventures Corporation (EVC) a contract worth a total of approximately $18 million to manufacture spare parts for a system developed 23 years ago by its parent company, Concurrent Technologies Corporation (CTC). 

CTC developed the Carriage, Stream, Tow, and Recovery System (CSTRS), a launch and handling system designed to help the U.S. Navy respond to mine threats in shallow waters from the relatively small H-60 helicopter. The CSTRS is a complex electro-mechanical system that allows for safe deployment and recovery of multiple weapon systems for naval mine countermeasure operations. CSTRS and the weapon systems it deploys provide an extra measure of safety for crew and ships during shallow water missions.

After design and testing, the CSTRS program transitioned from CTC to EVC with the award of multiple production contracts and has now progressed through sustainment support, including spare part fabrication and depot-level repair. Under this current contract, EVC will manufacture nine hydraulic winches, one of the primary subassemblies of CSTRS. 

“This contract is significant on several levels,” said Ed Peretin, President, EVC. “It’s gratifying that an asset started from a blank sheet of paper at CTC is now being sustained years later by EVC. We are grateful for everyone at CTC and EVC who have contributed to this effort, which is a true example of our teamwork, and ultimately benefits our warfighters.”

The CSTRS system is being utilized by multiple Navy squadrons and is an integral component in keeping global waterways safe. These systems require routine maintenance to keep them operational. All CSTRS sustainment work is now being performed at EVC in Johnstown, Pennsylvania. Visit the CSTRS webpage to learn more.

Enterprise Ventures Corporation (EVC) is a wholly owned affiliate of Concurrent Technologies Corporation (CTC). EVC’s mission 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. www.evc.ctc.com