SOURCE: Cubic Corporation

Cubic Corporation

December 15, 2010 07:00 ET

Cubic/IBM Named as Preferred Bidder for Vancouver Smart Card and Faregate Project

Fare Payment System Will Be North America's First to Accept All Forms of Payment, Including Smart Cards and Bank Cards

SAN DIEGO, CA--(Marketwire - December 15, 2010) - Cubic Transportation Systems, Inc., a business unit of Cubic Corporation (NYSE: CUB), has been selected by TransLink as the preferred bidder to design and build the smart card and faregate project for Greater Vancouver's transportation system by 2013. The project's scope also includes an operations and maintenance services contract from 2013 for the following 10 years.

During the design and build phase, Cubic will act as the overall systems integrator and will also be responsible for customer and maintenance services as the smart card and faregate project enters operation. Cubic has selected IBM's British Columbia-based call center to supply key customer support services. 

The project originally attracted 10 companies for prequalification and was down-selected to three competitors. 

Under the project, faregates will be added to SkyTrain's Expo and Millennium lines and the new Canada Line to bring gated station entry that will increase security and decrease fare evasion. In addition to traditional closed loop smart cards, account-based and open payment technology will be added to Sky Train, Canada Line, West Coast Express, Coast Mountain Bus, SeaBus and HandyDart. 

"We are pleased to be working with partners who understand that TransLink's technology path to the future is one that leverages, first and foremost, proven technology as well as more flexible payment methods using both traditional smart cards and open -- or account-based -- options. The solution will also position us to take advantage of newer technologies as they become available," said TransLink's CEO Ian Jarvis. Cubic is the transit industry's leading provider of revenue management and business information systems and services, with major systems including London's Oyster®, Washington, D.C.'s SmarTrip®, San Francisco's Clipper®, Atlanta's Breeze®, Miami's EASY®, Los Angeles's TAP®, New York's MetroCard(SM), Brisbane's go card, New York and New Jersey Port Authority's SmartLink, and Chicago's ChicagoCard. Cubic provided Vancouver's current revenue management system, which is based on magnetic ticketing technology.

IBM is a service provider with global experience in diverse areas of intelligent transportation systems including smart cards and fare collection systems, city congestion charging systems, transit asset management, transit information management solutions, and customer service and relationship management.

"Cubic is extremely pleased to have been selected as the preferred bidder, and we look forward to continuing our long and mutually beneficial relationship with TransLink, which began in 1997," said Richard Wunderle, senior vice president and general manager of Cubic Transportation Systems, Inc.

Ian Jarvis stated in the authority's press release of December 9, "We are pleased to have Cubic/IBM on board to ensure this project is a success, not only during the implementation phase but also through the 10 years they will operate and maintain the system.

"With the skills and knowledge of a strong proponent who knows our business, matched with the support of our provincial and federal partners, we are confident we will continue to add value to the world-class transportation system we operate today."

Cubic expects to execute the contract in February 2011, after final discussions with the TransLink client.

Cubic Corporation (NYSE: CUB) is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems.

Cubic® Transportation Systems, Inc. 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; Brisbane (Southeast Queensland) region, Australia; New York / New Jersey region; Washington, D.C. / Baltimore / Virginia region; Los Angeles region; San Diego region; San Francisco region; Minneapolis/St. Paul; Chicago; Atlanta region; Miami (South Florida) region; Vancouver and Edmonton, Canada; Sydney (New South Wales) , Australia; and Scandinavia.

Cubic Defense Systems is a leading provider of realistic combat training systems, cyber technologies, asset tracking solutions, and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services. For more information about Cubic, see the company's Web site at www.cubic.com.

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