Cubic Awarded $25 Million Contract for Air Combat Training Equipment
SAN DIEGO, Jan. 8, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Cubic Defense Systems, a subsidiary of Cubic Corporation (NYSE: CUB) announced today it has been awarded a contract worth $25 million from the U.S. Air Force for its P5 Combat Training System (P5CTS) to meet international requirements, including delivery to several Middle East allies as part of F-15 and F-16 foreign military sales contracts.
"This large contract combines various FMS requirements to provide the lowest possible cost to our customers in a tight budgetary environment," said Dave Schmitz, president of Cubic Defense Systems. "This contract extends the breadth of P5 sales in the Middle East and should yield long-term operations and maintenance opportunities."
Cubic is the prime contractor responsible for performance in all areas of systems engineering, and for development/integration/installation of the ground instrumentation subsystem. DRS is the principal subcontractor responsible for performance in all areas related to the P5CTS airborne instrumentation subsystem.
About Cubic Corporation
Cubic Corporation is the parent company of three major business segments: Transportation Systems, Defense Systems, and Mission Support Services. Cubic Transportation Systems is a leading integrator of payment and information technology and services for transport authorities. Cubic Defense Systems is a leading provider of realistic combat training systems and secure communications. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services for the U.S. and allied nations. For more information about Cubic, see the company's Web site at http://www.cubic.com.
About DRS Technologies
DRS Technologies is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide and is the 2013 recipient of the Defense Security Service Award for Excellence in Counterintelligence as well as three James S. Cogswell Awards for Outstanding Industrial Security Achievement. The company is a wholly owned subsidiary of Finmeccanica SpA, which employs approximately 70,000 people worldwide. Within DRS Technologies, DRS Training and Control Systems, headquartered in Fort Walton Beach, Fla., fields and supports aircraft test and air combat training systems worldwide. The unit also produces complex electronic control systems used in shipboard, ground and air weapon systems, to include aerial delivery and cargo handling systems.For more information about DRS Technologies, please visit the company's website at http://www.drs.com.
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CONTACT: Cubic Corporation Timothy Hill firstname.lastname@example.org +1 (858) 505-2430
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