PRESS RELEASE: Cubic Supports Sydney Congestion Busting Measures

Latest Press Release

SYDNEY – March 15, 2019 – Cubic Corporation (NYSE:CUB) today announced its Cubic Transportation Systems (CTS) business division has welcomed the announcement by the Premier of New South Wales, Gladys Berejiklian, of a record AU $695 million for a range of congestion busting measures in Sydney and across the state.
“The massive financial commitment to congestion busting announced today has huge ramifications for Sydney, Australia’s largest city, where the question of how to deal with the rapidly growing number of vehicles on the road is becoming an urgent priority,” said Tom Walker, senior vice president and managing director of CTS, Asia-Pacific.
Cubic has been involved in congestion busting around the world for the last 30 years. In 2005, Cubic was part of the very first Managed Motorways trials in the U.K., providing control systems to regulate traffic, reduce crashes and improve journey time reliability.
Over the past six months, Cubic has invested more than $400 million to acquire innovative companies like Trafficware and GRIDSMART, with technologies that optimize the flow of traffic. Technologies from Trafficware and GRIDSMART enable agencies to “read” traffic flow patterns in real time, reducing traffic queues at intersections and eliminating unnecessary stops and starts.
“Our international experience helps to clear city traffic snarls and improve the flow of motor vehicles, which can bring great benefits not only to road users, but cities as a whole.” said Walker.
In New South Wales, Cubic is already heavily involved in improving traffic and wider transport management through the ground-breaking Intelligent Congestion Management Program (ICMP), which involves a major upgrade to the Transport Management Centre in Sydney.
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March 15, 2019/by Reland Pigte

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