BUDAPEST, July 23 (Reuters) - Hungarian busmaker NABI said on Friday the Los Angeles County Metropolitan Transportation Authority (LACMTA) decided to exercise its option to buy 75 40-foot low-floor buses worth about $25 million.
NABI is scheduled to deliver the 40-LFW CNG type buses in early 2005, the company said in a statement.
Los Angeles currently runs 800 NABI CNG low-floor buses in its fleet of 2,368 buses, with an additional delivery of 100 45-foot gas-powered CNG CompoBuses beginning recently.
The company also said that 200 60-foot gas-powered CNG 60-BRT buses will be placed into service in 2005.
NABI shares hit a new low of 740 forints on Friday, before recovering to close at 750 forints, up five.
On Wednesday NABI shares fell over five and a half percent to an all-time low which the company attributed to speculation ahead of the first-half earnings due by mid-August.
The company announced recently that it reduced its full-year sales target to 1,200 buses from a previous target of 1,300-1,350 units that was set after the first quarter.