SOURCE: Cubic Corporation

November 19, 2007 07:00 ET

Cubic Launches New Business Program Focused on Maritime Security and Regulatory Compliance

SAN DIEGO, CA--(Marketwire - November 19, 2007) - Cubic Applications Inc., the government services business of Cubic Corporation (AMEX: CUB), has established a new Maritime Security Program to assist federal regulators and the international port and shipping community in achieving compliance with strict new seaport security laws.

U.S. and international laws governing port security have increased since the September 11 terrorist attacks, creating a need among both federal agencies and industry for contractor support. According to a recent Wall Street Journal article, one of the laws, a requirement that foreign ports scan every container they ship to the United States with X-rays or gamma rays, could have a dramatic impact on the global shipping industry.

"Hundreds of ports around the globe are trying to meet the rigorous new U.S. standards by 2012, along with the International Ship and Port Facility Security Code (ISPS), which took effect in July 2004," said Peter Miller, a former port official who will head Cubic's new program. "If a foreign port doesn't meet the U.S. container standards, the U.S. government can prohibit that port from doing business in America."

"Moreover, local provisions such as Florida's Seaport Security Act of 2001, which requires that 100 percent of all containers that come into the United States must be inspected and certified by Customs and Border Protection (CBP), and the federal Maritime Transportation Security Act of 2002, are straining the resources of the U.S. Coast Guard, CBP and Transportation Security Administration (TSA) to fulfill their legislative mandate," Miller added. "These agencies don't have the requisite manpower, so they need contractor support."

Al Sargeant, Vice President and General Manager of Cubic's Information Operation Division, said Cubic can assist foreign ports as well as U.S. agencies in achieving compliance with all applicable laws and regulations, including ISPS, MTSA and the Container Security Initiative (CSI) programs. Building upon Cubic's legacy program expertise, the company can also offer advice on security technological support including biometrics, security cameras, sensors, communications, container tracking and scanning, underwater detection systems and small boat IED barriers.

Miller previously served as the Director of Port Security for the Port of Tampa, the largest seaport in Florida. In that capacity, he had a leading role formulating his port's program to implement MTSA, ISPS, CSI and the Florida state seaport security standards law, which are recognized as the first and strictest standards in the country. Additionally, he is a career U.S. Marine Corps officer, retiring as a Colonel after 31 years, having served at the highest levels throughout the Middle East and Africa.

"Cubic's team of maritime security specialists have all held commercial port security positions, and are ready to provide clients with comprehensive maritime security support to ensure the smooth flow of commerce throughout the port facilities, while fully complying with international standards," Miller said.

Cubic Applications, Inc. is a major component of the Defense segment of Cubic Corporation. Cubic Corporation is a world provider of realistic combat training systems, mission support services and defense electronics. Another Cubic Corporation segment, Cubic Transportation Systems, designs and manufactures automatic fare collection systems for public mass transit authorities.

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