Cubic Lands 2 Defense Training DealsWednesday, June 18, 2014
San Diego-based Cubic Corp. announced the receipt of two defense contracts early this week.
Cubic (NYSE: CUB) said on June 17 that it will be a subcontractor to Northrop Grumman Corp. (NYSE: NOC) on a training deal that — for Cubic — could be worth as much as $125 million over five years. Under the deal, Cubic will support the Philadelphia detachment of the Navy’s Fleet Logistics Center Norfolk. Training will be for joint forces, meaning it will involve more than one of the military services, as well as for multinational forces.
Separately, Cubic said on June 18 that it received a task order from the U.S. Navy covering five years of support work on helicopter training devices. Work will take place at Naval Air Station North Island and five other bases. The deal could be worth more than $65 million, Cubic said.