San Diego Business Journal

Cubic Corp. Receives $25M Military Training Contract

Wednesday, January 8, 2014

Cubic Corp.'s defense systems subsidiary received a $25 million contract to provide combat training systems to the U.S. Air Force and unspecified U.S. allies in the Middle East.

The deal, announced Jan. 8 and handled through the U.S. Air Force, includes delivery to several nations as part of foreign military sales contracts covering F-15 and F-16 fighter jets.

The training machine is called the P5 Combat Training System.

Cubic (NYSE: CUB) is working with Virginia-based DRS Technologies Inc. on the deal. DRS is part of Italy-based Finmeccanica SpA.

In a prepared statement, Cubic Defense Systems President Dave Schmitz said the deal “should yield long-term operations and maintenance opportunities.”

— SDBJ Staff Report