Cubic to Sponsor Tube Anniversary
SAN DIEGO, CALIF., June 12, 2012 – Cubic Transportation Systems, a business segment of San Diego-based Cubic Corporation (NYSE:CUB), and a leading integrator of payment and information technology and services for intelligent travel solutions, is proud to announce that it is to be the lead industry sponsor for next year’s 150th anniversary of the London Underground, the world’s oldest underground railway.
Ticketing and fare collection for the four million passenger journeys made on the Tube daily are handled by Cubic as part of its role as prime contractor for the provision of revenue services, ticketing, information for transport ticketing and fare collection within the Transport for London (TfL) system, which includes the London Underground, London Overground, buses and river bus services.
Cubic has worked with TfL and its predecessor London Transport since the 1970s on revolutionary developments in ticketing, not least of which has been the continued successful rollout of the Oyster card since its introduction in 2003. Today Oyster accounts for more than 80% of journeys taken on the TfL network and with over 50 million cards issued, it is the world’s most prolific and successful smart card ticketing system. But the story doesn’t end there: Ongoing developments and new technologies are focused on delivering increased value, choice and service improvements for London public transport users, making transport in the capital even more convenient.
A wide range of events and activities is planned to mark the London Underground’s 150th anniversary event, including a special exhibition, commemorative stamps and coins, plus a series of steam train runs.
Sam Mullins, director of the London Transport Museum, is playing a key role in driving the celebrations. “We have a close and long-term association with Cubic through its sponsorship of the Museum theatre and are delighted that the company has opted to broaden that association through sponsorship of this high-profile anniversary,” he said.
Roger Crow, European managing director at Cubic Transportation Systems, commented, “We’re delighted to show our ongoing support for London Underground during what will be an extremely special year. We work extremely closely with LU on the daily business of ticketing and revenue services and also on the modernization of the network. 2013 will provide the opportunity to look back at the evolution of the world’s busiest and most complex urban transportation system–and to marvel at the feat of moving millions of passengers around on a daily basis. And for Cubic, it’s also an occasion to look forward to the new initiatives we’re implementing with TfL to make taking the Tube as easy and convenient as possible.”
Steve Shewmaker, president of Cubic Transportation Systems, added, “The entire Cubic Corporation is fully behind the 150th anniversary celebrations. This support underscores Cubic’s complete commitment to London and to helping make public transportation in one of the world’s greatest cities as simple and convenient to use as possible.”
The 150th anniversary of London Underground will not only look at the Tube’s past, but also its important role in the London economy and why continued investment to its aging network is so crucial for the Tube’s customers.
About Cubic Transportation Systems
Cubic® Transportation Systems, Inc., is part of Cubic Corporation. Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services.
Cubic Transportation Systems, Inc., is a leading integrator of payment and information technology and services for intelligent travel solutions. Cubic delivers integrated solutions that help transport operators manage their operations and services and give passengers choices in the smartest and easiest ways to pay their fares. Cubic specializes in design, development, manufacture, supply, installation, integration, services and information. Services provided by Cubic include on-site management, central systems, operations support, patron support, business support and field services.
Every year, nearly 10 billion rides are taken worldwide using Cubic payment and information 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.
For more information about Cubic, see the company’s Web site at http://www.cubic.com.