Cubic History: Founding, Timeline, and Milestones - Zippia
- ️Fri Jul 21 2023
1951
Founded in 1951 by Walter J. Zable, Cubic began as a small electronics company operating from a modest San Diego storefront.
1969
In 1969, the company acquired United States Elevator Corporation, a maker of freight and passenger elevators.
1971
The DM-60, introduced in 1971, is a lightweight, infrared EDM, with a short range (distances from 1 foot to 1 mile) and a digital readout.
1972
Zable demonstrated his commitment with the 1972 purchase of Los Angeles-based Western Data Products, Inc., a floundering maker of rail transit fare collections systems that was staffed by former Litton Industries engineers.
The company was heavily involved in supplying military training systems to the armed forces, was a manufacturer of freight and passenger elevators, and by 1972 was a manufacturer of the machines that opened gates when coins were dropped into a box or encoded cards were inserted into a slot.
1973
3728025 CUBIC INDUSTRIAL CORP. a subsidiary of Cubic Corporation SAN DIEGO, CALIFORNIA." The patent (#3,728,025) for "Optical Distance Measuring Equipment" is dated April 17, 1973.
1975
Cubic was awarded the final $53 million contract for Washington, D.C.'s Metro mass transit system in 1975 and three years later won the contract to supply Atlanta, Georgia's rapid rail system.
1986
The biggest plunge occurred in 1986 when profits plummeted from $14.7 million to a paltry $1.1 million, as the company suffered from dismal performances by each of its three major business segments.
1987
Shortly thereafter, in August 1987, Cubic was awarded a $100 million contract for five new combat jet training systems for the Navy, the type seen in the film "Top Gun," designed to plot and track up to 36 aircraft in mock aerial dogfights.
1990
In 1990, Walter and Betty Zable donated $10 million to the College of William & Mary for scholarships, graduate student aid and other programs.
1993
Cubic exited the elevator manufacturing business in 1993, leaving it with its defense electronics and automatic fare collection businesses as the primary money earners for the company.
By adding a computer control, it grew from the 23rd largest elevator company to #3 before Cubic sold it to Thyssen in 1993.
1996
The following month, October 1996, Cubic was awarded a $27.9 million contract to design and install automatic fare collection equipment in Shanghai, China.
1997
The Walter J. & Betty C. Zable Foundation is a private foundation founded in 1997.
2000
A major Multiple Integrated Laser Engagement System 2000 production contract is awarded.Cubic Automatic Revenue Collection Group is renamed Cubic Transportation Systems.
2005
In June of 2005 the City of San Diego recognized the Zable contributions to the community and technology by declaring “Walter J. Zable Day” in his honor.
2014
Bradley H. Feldmann was named president and chief executive officer of Cubic Corporation in July 2014.
Cubic's fiscal year 2014 sales totaled $1.398 billion.
2015
↑ "Cubic acquires Teralogics". http://www.defensenews.com/story/defense/policy-budget/industry/2015/12/21/cubic-announces-purchase-gatr-teralogics/77706334/.
2021
In May 2021, Cubic announced the completion of its sale to the private equity firms Veritas Capital and Evergreen Coast Capital, turning the publicly traded NYSE company into a privately held company.
© 2021 Walter J. & Betty C. Zable Foundation.
2022
Stevan Slijepcevic was named president and chief executive officer of Cubic Corporation in January 2022.
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Cubic may also be known as or be related to Cubic, Cubic Corporation and Cubic Global Defense, Inc.