SAN DIEGO, Oct. 4, 2018 /PRNewswire/ -- Cubic Corporation
(NYSE: CUB) today announced that its Cubic Transportation Systems
(CTS) executives will be meeting with U.S. Representative
Scott Peters (D-CA) and U.K.
Minister for Investment Graham
Stuart to celebrate and further enhance collaboration and
economic growth for San Diego and
the U.K.
"It has been a whirlwind year for Cubic with significant wins in
New York, Boston, Brisbane, Sydney and most recently the San Francisco Bay Area – all direct results of
the San Diego and U.K.
cooperation," said Matt Cole,
president of CTS. "Through our groundbreaking partnership with
Transport for London (TfL), Cubic
is able to adapt the technology of London's contactless ticketing system to other
metropolitan cities worldwide. We hope to bring these innovations
to our San Diego hometown."
Since the TfL technology partnership agreement in 2016, Cubic
has been awarded major contracts to deliver next-generation fare
payment systems for Miami,
New York, Boston, Brisbane and the Bay
Area. In addition, Cubic also won a contract to provide
Sydney with the world's most
advanced transport management system based on Cubic's Transport
Management Platform which was developed in the U.K.
"Last year, we announced a contract extension between Cubic and
TfL during a trade mission to the U.K. I led with the World Trade
Center in San Diego – solidifying
our partnership in the Smart Cities revolution. Since then, Cubic
secured new contracts in metro areas across the U.S. and
internationally, creating jobs and strengthening both our regional
economies," said Congressman Peters. "Our collaboration will
continue to foster innovation and I can't wait to see what this
partnership creates next."
The New York, Boston, Brisbane, Sydney and Bay
Area contracts total over $2
billion of work for Cubic and will create jobs in Cubic's
Stockton-on-Tees and London offices in the U.K. as well as
San Diego. In addition, Cubic is
working with the City of San Diego
to upgrade its San Diego
headquarter facilities with a new campus to accommodate the
company's growth. This facility upgrade project is anticipated for
completion in 2021.
"Cubic is a prime example of how U.K. and U.S. partnerships lead
to job growth and innovation in both countries. Through
U.K.-created tech, Cubic has created approximately 150 new jobs
right here in San Diego as well as
a further 250 at home in the U.K," said Minister Stuart.
"Ticketless payment technology from Cubic is helping travelers in
the world's greatest cities move more quickly and smoothly and my
international economic department will continue to support
transatlantic business collaboration like this to deliver local
jobs and global benefits."
About Cubic Corporation
Cubic is a market-leading, technology provider of integrated
solutions that increase situational understanding for
transportation, defense C4ISR and training customers worldwide to
decrease urban congestion and improve the militaries' effectiveness
and operational readiness. Cubic Global Defense Systems is a
leading provider of live, virtual, constructive and game-based
training solutions for the U.S. and allied forces. Cubic
Transportation Systems is a leading integrator of payment and
information technology and services to create intelligent travel
solutions for transportation authorities and operators. Cubic
Mission Solutions provides networked Command, Control,
Communications, Computers, Intelligence, Surveillance and
Reconnaissance (C4ISR) capabilities for defense, intelligence,
security and commercial missions. For more information about Cubic,
please visit the company's website at www.cubic.com
or on Twitter @CubicCorp.
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SOURCE Cubic Corporation