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Cubic Makes Final Relocation Plans in U.K.; Move from Merstham to Salfords Will Enhance Efficiency and Support Company`s Commitment to European Growth SAN DIEGO, May 28, 2002 (BUSINESS WIRE) -- San Diego-based Cubic Corp. (AMEX: CUB) is in the final planning and design phases of a facility relocation this fall from Merstham, Surrey, England, to Salfords, Surrey, for Cubic Transportation Systems Ltd. (CTSL), headquarters for the company`s European-based mass transit fare collection operation. "With this relocation, we are creating a more efficient U.K. operation," said Ray deKozan, chairman of Cubic Transportation Systems (CTS). "Purchasing and refurbishing the Salfords property also demonstrates Cubic`s commitment to growing our business in Europe." More than 700 employees currently work at the facility in Merstham, which became Cubic`s U.K. headquarters in 1977 after the company entered the U.K. market. Cubic was awarded a Research and Development pilot automatic fare collection contract in 1979. Its success led to the award of a systemwide contract in 1985. This system was completed in 1988. From 1988-1998, Cubic had continuous contracts with London Transport to enhance, expand and maintain the system. In 1998, London Transport awarded the TranSys consortium the "PRESTIGE" Private Finance Initiative (PFI) contract to provide a new smart card-based ticketing and fare collection system for the London Underground and city buses. As part of the consortium, Cubic is providing all of the system infrastructure and maintenance. Cubic also has contracts with many of the train operating companies in the U.K. for gates, and ticket office machines. The company is also performing fare collection contracts for the city of Hanau, Germany and Rotterdam in Holland. Both of these have the potential to lead to other PRESTIGE-size contracts in Europe. The new Salfords facility, acquired by Cubic in January 2002, is within a 15-minute walk of the A23, the original London-to-Brighton roadway. It is served by buses and within a five-minute walk of the local train station -- a direct link to London`s Victoria Station and Gatwick International Airport. Cubic Transportation Systems, one of Cubic`s two major segments, designs and manufactures automatic fare collection systems for public mass transit authorities. The Cubic Defense Applications group, the other major segment, 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` web site at www.cubic.com. In addition to historical matters, this release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These forward-looking statements involve predictions of future results. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the company`s business and prospects. These include the effects of politics on negotiations and business dealings with government entities, economic conditions in the various countries in which the company does or hopes to do business, competition and technology changes in the defense and transit industries, and other competitive and technological factors. |
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| aus der Diskussion: | aggressiv kaufen |
| Autor (Datum des Eintrages): | frank55 (03.06.02 17:55:35) |
| Beitrag: | 49 von 135 (ID:6547041) |
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