Cubic Awarded $1.75 Bn FTSS Contract

Cubic Global Defense (CGD), a business unit of Cubic Corporation ( NYSE: CUB ), today announced it is one of nine companies awarded a Fielded Training Systems Support (FTSS) Indefinite Delivery Indefinite Quantity (IDIQ) Multiple Award Contract (MAC) by the U.S. Navy to provide training support services to the U.S. Navy, U.S. Marine Corps and its Foreign Military Sales customers. In addition, Cubic will have the opportunity to competitively bid on numerous full and open task orders, under the fourth-generation FTSS IDIQ contract, which has an estimated ceiling value of $1.75 billion. Cubic has participated in the FTSS IDIQ contracts since the original was awarded in 2000.

“Cubic is pleased to continue a long, trusted relationship with our U.S. Navy and Marine Corps customers in helping them to effectively train warfighters and we look forward to demonstrating our capabilities even further in the upcoming FTSS IV competitive task orders,” said Dave Buss, president of Cubic Global Defense. “We are proud to be an industry leader in delivering operations, maintenance and instructional training support services for the U.S. military and allied nations’ armed forces.”

Training services under the FTSS award include contractor operations and maintenance services (of simulators and training devices); contract instructional services (simulator and academic instruction for pilots and other aircrew); training device relocation; training device modifications; training systems management; technical data verification; in-service engineering office support; spares/product support; and other related trainer support services.

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With a contracting office located in Orlando, Florida, the Naval Air Warfare Center Training Systems Division will begin issuing task order solicitations in the summer of 2016. Work under the FTSS IV contract will be performed at U.S. Navy and Marine Corps installations located inside and outside the U.S. with anticipated completion date of July 2021.

Source: Cubic Corporation (NYSE: CUB)
Date: Aug 1, 2016