Successful Recompete has Potential Value of $166 Million
SAN DIEGO, Calif. - May 14, 2008 - The U.S. Marine Corps has awarded Cubic Applications, Inc., a wholly owned subsidiary of San Diego-based Cubic Corporation (AMEX: CUB), a new and expanded training support contract with a potential value of $166 million over five years. Cubic's employees, teammates, and leadership team continue to focus on the fact that their ultimate customer is the warfighter in the field. This new contract award allows Cubic to continue to deliver training that is both meaningful and relevant to the Marine Corps. To date, Cubic has executed over 6,000 training events over the course of the current contract.
Cubic's new MAGTF Training Systems Support (MTSS) contract has an initial seven-month base of approximately $19 million with multiyear options through May 31, 2013. The contract is a follow-on to an existing five-year Cubic MTSS contract that will expire on May 31, 2008. Cubic has been supporting the Marine Corps operating forces through the original MAGTF Staff Training Program (MSTP) and, its successor, the MAGTF Training Systems Support (MTSS) contract, since 1998.
Under Cubic's current MTSS contract, Cubic provides realistic computer-based simulation training, C4ISR sustainment training, Combined Arms Staff training, and a Deployable Virtual Training Environment capability for individual Marines through senior-level Marine Corps commanders and their battle staffs at Camp Pendleton and Twentynine Palms in California; Quantico, Va., Camp Lejeune, N.C.; Marine Corps Air Station, Yuma, Ariz.; Camp Courtney, Okinawa, Japan; Camp Smith, Hawaii; and Marine Forces Europe, Stuttgart, Germany.
The new contract will support the current training base and add Seabee training support for the 1st Naval Construction Division at Little Creek, Va.
Cubic Applications, Inc. is part of the defense segment of Cubic Corporation, a world leader in realistic combat training systems, mission support services and defense electronics. The corporation's other major segment, Cubic Transportation Systems, designs and manufactures automatic fare collection systems for public mass transit authorities. For more information about Cubic, see the company's website at www.cubic.com.