Cubic Teams With Arviem to Track Shipping ContainersMonday, January 27, 2014
San Diego-based Cubic Corp. is teaming with a Swiss company to keep tabs on shipping containers.
Cubic's five-year deal with Arviem AG is expected to be worth $3.2 million to the local company.
Cubic Global Tracking Solutions, a Cubic (NYSE: CUB) subsidiary, will provide shipping container tracking and monitoring equipment for Arviem’s global cargo monitoring service under a leasing agreement. Arviem will use the technology to monitor 30,000 shipments a year, said Jim Kilfeather, vice president of Cubic Global Tracking Solutions. Arviem serves Fortune 500 companies such as Dow Chemical Co. (NYSE: DOW), Nestle SA and Bacardi.
Arviem and Cubic will also enter a strategic partnership to develop advanced cargo monitoring capabilities.
Cubic said its smart devices can go on moving assets or containerized cargo and provide location, status and sensor information anywhere around the globe. The business markets its technology under the Global Sentinel name.
Cubic’s main lines of business are military equipment, military services and fare-collection equipment for transit agencies. The company reported $1.36 billion in sales in fiscal 2013.