Cubic Installs New Metro Ticket System in Bangkok, Strengthening Company's Market Position in Far East.Business Editors SAN DIEGO--(BUSINESS WIRE)--March 20, 2000 Cubic Transportation Systems, a subsidiary of San Diego-based Cubic Corporation (AMEX AMEX See: American Stock Exchange :CUB), has launched a new mass transit mass transit, public transportation systems designed to move large numbers of passengers. Types and Advantages Mass transit refers to municipal or regional public shared transportation, such as buses, streetcars, and ferries, open to all on a fare collection system in Bangkok. Cubic designed, built and installed the new system under a $23.7 million contract awarded three years ago by Siemens Transportation Group, the prime contractor for Bangkok's mass transit rail system. The system utilizes Cubic's most advanced magnetic ticketing technology for stored-value fare cards, which can be used over and over again simply by reloading Reloading A term lenders commonly use to refer to the habits of borrowers taking out loans to repay the balance on other loans. Often reloading is done to take advantage of lower interest rates offered by other loans, and potential tax benefits. value, and single journey tickets, favored by tourists and other non-commuters. "The Bangkok project strengthens our presence in the Far East," said Steve Shewmaker, senior vice president, business development for Cubic Transportation Systems. "It's an example of Cubic's global position as a technology leader and our commitment to meeting our customers' unique fare collection requirements." Cubic delivered and installed 539 major pieces of fare collection equipment for the Bangkok system, including ticket issuing machines, barrier gates, station computers and analyzer/dispensers for agent booking offices. At the heart of the fare collection system is the Cubic-designed central computer, which integrates all the station equipment to a central source for revenue and data management. Cubic's other Far East projects include fare collection systems for Shanghai, Guangzhou, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Singapore, and Kuala Lumpur Kuala Lumpur (kwä`lə l  m`pr), city (1990 est. pop. . The leading systems integrator in advanced magnetic and contactless smart card A smart card that uses radio frequencies to provide a wireless connection to the reader. The transmission range is only a couple of inches, but allows the card to be quickly passed by a reader in applications such as secured entrances. See smart card and UltraCard. ticketing systems, Cubic's customers include many of the world's largest transit operators, including New York New York, state, United StatesNew 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 , London, Chicago, Washington, D.C., Seoul and Sydney. The new Bangkok metro system, built by the Bangkok Mass Transit System Public Company Ltd., is the largest 100-percent privately financed turnkey metro project in the world. Built on an elevated track, the new Bangkok Transit System operates two lines that utilize 23 stations covering 14.5 miles (23.5 km). |
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