Adacel Technologies Ltd (ASX: ADA) is an air traffic technology company headquartered in Melbourne’s inner south-east. However, it’s really a Canadian/US technology company that does most of its business in the US. It was founded in the 80’s by Silvio Salom. Adacel sells its hardware and software to airports around the world for training/simulation and in-field use. For example, it supplies a system to members of the Australian aviation industry, installs the system, then supplies maintenance and other “services”.
Adacel Technologies Limited (ASX:ADA) shares fell off a cliff in November and are down from around $2.50 at the beginning of 2018 to around $0.60 today. Yikes!
Melbourne-based Adacel Technologies Limited (ASX:ADA) was amongst the ASX’s worst performers on Friday morning after the air traffic control business painted a tough outlook.
The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is expected to open lower Wednesday morning, according to data from the Sydney Futures Exchange.
