Cubic Transportation Systems Inc., a subsidiary of San Diego-based Cubic Corp., was awarded a $45 million contract to replace a transportation fare collection system in Florida. Cubic will replace Miami-Dade Transit’s current system with a contactless smart card system, according to an announcement made July 9.
The smart card system installation will be the first in Florida. Cubic worked with the Port Authority Trans-Hudson Corp. in New York and New Jersey, the Port Authority Transit Corp. in Philadelphia, and the Metropolitan Atlanta Regional Transit Authority recently on smart card systems.
Cubic trades on the American Stock Exchange under the symbol CUB. Shares closed July 11 at $23.48, down 4 cents from their previous close.
, Michelle Mowad