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Adacel Technologies Ltd Announces FAA's ATOP Program Eight Year Contract Extension To Lockheed Martin Corp


Thursday, 19 Sep 2013 01:44am EDT 

Adacel Technologies Ltd announced that the Federal Aviation Administration (FAA) has awarded an eight year contract extension to the Lockheed Martin Corp for the Advanced Technologies & Oceanic Procedures (ATOP) Program, commencing August 1, 2013 and expiring on July 31, 2021. Adacel’s collaboration with the Lockheed Martin Corporation on the ATOP program will also continue under the eight year contract extension. The FAA’s ATOP Program has been designed to enhance air traffic operational efficiency and safety within the US-controlled oceanic air spaces of the Atlantic and Pacific. The systems are fully operational at the FAA’s New York, Oakland and Anchorage Oceanic Air Route Traffic Control Centres. Over the eight year extension, comprising a one base year and seven option years, Adacel anticipates total revenue in excess of USD75 million. 

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176.01
3.4 +1.97%
22 Oct 2014