Cubic Awarded $37.1 M Smart Card Technology Contract That Gives PATH Commuters ``One-Ticket-to-Ride'' MetroCard-SM- Option.Business Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--June 9, 2003 San Diego-based Cubic Corp. (AMEX AMEX See: American Stock Exchange :CUB) announced its transportation subsidiary has received a $37.1 million contract to provide a new high-tech automatic fare collection system for the Port Authority Trans-Hudson The Port Authority Trans-Hudson (PATH) is a rapid transit railroad linking Manhattan, New York with New Jersey, and providing service to Jersey City, Hoboken, Harrison, and Newark. It is operated by the Port Authority of New York and New Jersey. (PATH) rapid-transit rail system. Under the contract from PATH, a subsidiary of The Port Authority of New York and New Jersey Port Authority of New York and New Jersey, self-sustaining public corporation established in 1921 by the states of New York and New Jersey to administer the activities of the New York–New Jersey port area, which has a waterfront of c. , Cubic is providing new "open system" Smart Card technology that will be integrated with New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Transit's (NYCT NYCT New York City Transit NYCT New York Community Trust NYCT New York Circle of Translators ) MetroCard(SM) system. The system ultimately will allow rail commuters to pay for their PATH rides with the soon-to-be-available Smart Card, or MetroCard. The system will be introduced at the temporary World Trade Center PATH Station, which is scheduled to open in November. Cubic Transportation Systems is the world's largest provider of integrated electronic ticketing systems and has smart card contracts for public transit systems in North America, Europe and Asia. Every year, nearly 10 billion people use Cubic systems in more than 40 major markets in cities on five continents, including London, Washington, D.C., Hong Kong, Chicago, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Guangzhou, Shanghai, Atlanta, San Francisco, Singapore and Miami. As part of the TranSys consortium, Cubic also supplied the entire automated fare collection system The Automated Fare Collection System (AFC) is the name given to three interoperable automated ticketing systems for government-run buses, trains and ferries in and around Sydney, Australia. including smart cards for the London PRESTIGE project. The corporation's other major segment, Cubic Defense Applications, provides instrumented air and ground combat training systems, battle command training, simulations and simulation support for U.S. and allied military forces. The group also produces high technology avionics, data links and communications products for government and commercial customers, and a wide range of technical and logistics services. For more information about Cubic, see the company's Web site at www.cubic.com. |
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