E-paper solution provider E Ink Holdings (EIH) has settled disputes with ex-employees of its Korea-based subsidiary Hydis Technologies through conciliation efforts initiated by Korea's high civil court, according to a company announcement.
EIH acquired Hydis in 2008 and decided to shut down the manufacturing facilities of the subsidiary in March 2015 due to continued losses, and consequently laid off the majority of the factory workers.
The latest settlements involved 58 ex-workers of Hydis' manufacturing unit and another 15 of its production equipment unit, and EIH and all of these ex-employees have signed confidential agreements with regards to the settlement deal.
Hydis has appropriated necessary funds to fulfill the agreements which will not affect the interests of EIH's shareholders, EIH said.
Meanwhile, the company reported revenues of NT$1.037 billion (NT$35.51 million) in January, up 16.26% on month and 30.68% on year.
In 2017, the company saw its revenues increase 8.5% on year to a four-year high of NT$15.203 billion.