Adacel Technologies Limited (ASX: ADA) Secures New Contracts
Contract Details
Adacel Technologies Limited (ASX: ADA) has been awarded two new contracts with a total value of approximately USD$4.6 million. The first contract, with a new customer, is valued at around USD$3.6 million over three years for Adacel’s Aurora air traffic management (ATM) system. The second contract, valued at approximately USD$1 million over six months, is with an existing customer for upgrades to Adacel’s MaxSim simulator systems.
The first project aims to modernise the air traffic management operations for the Civil Aviation Authority of a member country of the United Nations. Adacel will implement ATM automation and surveillance technologies through the Aurora system, enhancing operational efficiency and safety.
Executive Comments
“Adacel is proud to collaborate with our partner on this critical project to modernise a new customer’s ATM system,” stated Daniel Verret, Adacel’s CEO. “This award underscores our dedication to providing advanced air traffic management solutions that enhance safety, efficiency, and reliability.”
The second contract involves upgrading ATC simulators for a different Civil Aviation Authority, reflecting Adacel’s ongoing commitment to enhancing air traffic safety. “We look forward to contributing to the continued growth and success of an existing customer’s aviation sector with this state-of-the-art technology,” added Mr. Verret.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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