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Cubic Wins $15.2 Million Contract for Minneapolis/St. Paul Smart Card Fare Collection System Leader in Automated Fare Collection Brings Affordable, Proven "Big System" Technology to Emerging Light Rail, Bus Rapid Transit Markets SAN DIEGO, Jan 18, 2002 (BUSINESS WIRE) -- Cubic Transportation Systems Inc., a subsidiary of San Diego-based Cubic Corp. (AMEX: CUB), has received a $15.2 million contract from the Metropolitan Council in Minneapolis/St. Paul, Minn., to deliver the nation`s first "smart" regional ticketing system for light rail and bus rapid transit. Total value of the contract could reach $19.3 million if all options are exercised. The new ticketing system is part of the Twin Cities` regional "smart growth" plan for the Twin Cities seven-county metropolitan area. It will provide seamless fare collection among the region`s transit systems and the state`s first light-rail line. The contract will be managed by Metro Transit, the region`s largest bus system and operator of the light-rail line when it opens in late 2003. Smartcard technology also will be deployed at stations along Metro Transit`s Riverview Corridor busway, Minnesota`s first bus rapid transit project, now in development. "Minneapolis/St. Paul is a big win for Cubic. It means we`re officially in the light rail and bus rapid transit business, in addition to the heavy rail customers-which have been our traditional core customer-such as London, Washington, New York and Chicago," said Walter C. Zable, president and chief executive officer, Cubic Transportation Systems. "Since many North American agencies are looking at light rail and bus rapid transit, it was essential for us to look at our business direction and position ourselves as a serious player in this market." The fare payment system will use both magnetic and smart card products. A Cubic-designed central computer will be the heart of the system and will integrate bus and station equipment to a central source for revenue and data management. The system will use Cubic`s Nextfare(TM) Business Management System, a central computer package designed for multi-operator regional ticketing systems, and Tri-Reader(R), the only card reader that processes all ISO-compliant and Cubic`s GO CARD(R) smart cards. The ticketing system will feature Autoload, which lets transit users link smart cards to their credit cards for automatic reload of transit value at any ticket vending machine. Patrons also will be able to load value on their smart cards at rail and busway ticket vending machines by using either credit or debit cards. The Minneapolis/St. Paul fare collection system will feature Cubic`s new ticket vending machine designed for the light rail and bus rapid transit markets. "We have repackaged the best of our proven `big system` technologies and delivered a solution to Twin Cities transit operators that is comparable but affordable. It is a model for other cities wanting a common platform to ensure efficient long-term and economical support costs for both hardware and software systemwide," Zable said. The contract includes an option to buy additional equipment for the Northstar Commuter Rail line currently under evaluation by regional officials and the state transportation department. Cubic is the supplier of the only full-scale smart card systems in the U.S. transit market today-the SmarTrip(R) system in Washington, D.C., and Chicago`s SmartCard system. Cubic Transportation Systems is the world`s largest supplier and system integrator of integrated electronic ticketing systems and has smart card contracts for public transit systems in North America, Europe and Asia. Recently, the company added a security group to expand its smart card technology into non-transit uses including security and access control. 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, Guangzhou, Shanghai, Atlanta, San Francisco, Singapore and Miami. As part of the TranSys consortium, Cubic also is supplying the entire automated fare collection system including smart cards for the London PRESTIGE project. Cubic Transportation Systems Group is one of Cubic Corp.`s two major segments. The Cubic Defense Group provides battle command training, instrumented training systems, avionics, data links, product logistical support, and radio communication systems. For more information about Cubic, see the company`s Web site at www.cubic.com. |
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| Autor (Datum des Eintrages): | frank55 (18.01.02 17:00:30) |
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