SOURCE: Cubic Corporation

Cubic Corporation

November 05, 2009 07:00 ET

Cubic to Leverage Newly Acquired TransLink® Assets to Update San Francisco Subway Gating and Ticketing Systems

$20 Million Project Partially Paid for With Federal Stimulus Money

SAN DIEGO, CA--(Marketwire - November 5, 2009) - Cubic Transportation Systems, a subsidiary of Cubic Corporation (NYSE: CUB), has been awarded a contract valued at close to $20 million to deliver new smart card-capable fare gates and ticket vending machines (TVMs) in nine subway stations in San Francisco. Cubic will supply the gates to long-time customer San Francisco Municipal Railway (Muni), which is partially funding the project with federal stimulus money. Installation of the new fare collection equipment is planned to start in late 2010 and will be fully operational by the spring of 2011.

Cubic will install the equipment and software necessary to fully integrate the Muni stations into the regional TransLink® smart card network managed by the Metropolitan Transportation Commission (MTC). TransLink allows riders to use one convenient card to travel on Muni and other public transportation systems in the Bay Area. Cubic also manages the TransLink system for MTC.

Cubic installed Muni's existing bus fare collection equipment 18 years ago. The company has had a presence in the San Francisco Bay Area for many years and also has a long-term relationship with the Bay Area Rapid Transit District. Cubic delivered BART's latest fare collection system, which began accepting the TransLink card in August 2009. Cubic is also delivering a new TransLink-capable back office system and upgrading the ticketing system on Muni's buses.

"This project is a great example of the use of federal stimulus dollars to create jobs and bring state-of-the-art technology to San Francisco," Mayor Gavin Newsom said in a Muni news release. "We need to re-invest in the infrastructure of the Muni system to fulfill the promise of our Transit First city."

"These new fare gates and TVMs will provide a tremendous benefit to our customers," said Nathaniel P. Ford Sr., Executive Director/CEO of San Francisco Municipal Transportation Agency, which operates Muni. "The new equipment will also help us increase the use of TransLink® on the Muni system, which will make it easier for everyone to take transit in the Bay Area."

Cubic® Transportation Systems, Inc., one of two major segments of Cubic Corporation, is the world's leading turnkey solution provider of automated fare collection systems for public transport including bus, bus rapid transit, light rail, commuter rail, heavy rail, ferry and parking. Cubic's solutions and services include system design, central computer systems, equipment design and manufacturing, device-level software, integration, test, installation, warranty, maintenance, computer hosting services, call centre services, card management and distribution services, financial clearing and settlement, multi-application support and outsourcing services.

Every year, nearly 10 billion rides are taken worldwide using Cubic fare collection systems. Cubic has delivered over 400 projects in 40 major markets on five continents. Active projects include London; New York / New Jersey region; Washington, D.C. / Baltimore / Virginia region; Los Angeles region; San Diego region; San Francisco; Minneapolis/St. Paul; Chicago; Atlanta; Miami; Vancouver and Edmonton, Canada; Brisbane, Australia; and Scandinavia.

Cubic Corporation's defense segment is a world leader in realistic combat training systems, mission support services and defense electronics. For more information about Cubic, see the company's website at

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