Losses improved because of layoffs, the shutdown of NABI’s bus factory in Kaposvár, southwest Hungary and the sale of its UK unit Optare Holdings. NABI said it expects a deal under which it is selling its US unit NABI Inc. to Homerica in exchange for taking over $81.1 million in debts owed by the parent company and a $2 million cash premium to be completed by February 14. Consolidated operating losses came to $18.69 million in 2005, a 52.1% improvement from a year earlier. Operating losses included the $10.57 million cost of restructuring the company. Pre-tax losses totalled $27.2 million, a 52.5% improvement from a year earlier. Included in pre-tax losses was a write-off from the sale of Optare, which NABI sold in July.
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