RELIANCE INDUSTRIES LTD 
Reliance enters into a Joint Venture for Textile business
Mumbai, December 09, 2014: Reliance Industries Limited ('RIL') India and Shandong Ruyi Science and Technology Group Co. Ltd, China ('Ruyi') (through its wholly owned subsidiary), have executed definitive agreements for a joint venture in textiles. As per the definitive agreements, RIL will transfer its existing textile business into a newly incorporated company ('JV'), for which RIL will receive cash consideration. RIL will own a majority 51% in the proposed JV, with the balance 49% owned by Ruyi. The proposed transaction is subject to obtaining requisite approvals.
RIL's existing textile business is the founding business of RIL and operates under the well-known brand 'Vimal'. It has a prominent presence in the Indian textile market, especially in the worsted and synthetic suiting fabric segments.
Ruyi, a leading textile company in China with revenues in excess of USD 3 Billion, has a global presence including in America, Europe, Japan, Australia, New Zealand and China. Ruyi has a portfolio of world renowned brands such as 'Taylor & Lodge', 'Harris Tweed', 'Royal Ruyi China',
'Nogara Italy' and 'Indios Italy'. The RuYi group includes Renown Inc (founded in 1902 and listed on the Tokyo Stock Exchange) which owns or operates several leading global brands such as
'Aquascutum', 'Simple Life', 'Ensuite', 'Mano', 'addenda', 'CHARGE', 'next eye', 'D'urban' and
'Intermezzo'. Ruyi also operates in India under the 'Georgia Gullini' brand in the worsted suiting segment of the market. This business operation and activities would get realigned to strengthen the JV.
The JV will build on RIL's existing textile business and wide distribution network in India as well as
Ruyi's state-of-the-art technology and its global reach. The JV will benefit from the strength of the
'Vimal' and 'Georgia Gullini' brands and plans to introduce some of the well-known global brands of Ruyi.
Nikhil R. Meswani, Executive Director, Reliance Industries Ltd., said: "Our joint venture with Ruyi Group will help Reliance reposition its textile business on a high growth path. Our partner's deep commitment and global reach in textile business will enable this JV to harness the growth potential
of the Indian market and emerge as a global textile player".
Registered Office: Corporate Communications Telephone : (+91 22) 2278 5000
Maker Chambers IV Maker Chambers IV Telefax : (+91 22) 2278 5185
3rd Floor, 222, Nariman Point 1st Floor, Nariman Point Internet : www.ril.com
Mumbai 400 021, India Mumbai 400 021, India
CIN: L17110MH1973PLC019786
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Qiu Yafu, Chairman, Shandong Ruyi Group, said: "With closer economic relations between China and India and Shandong Ruyi Group's expanding global presence in the textile sector, we see our joint venture with Reliance as a significant event for the group. To enter the Indian market with Reliance we truly believe in the bright future of this joint venture business".
About RIL
Reliance Industries Limited (RIL) is India's largest private sector company, with a consolidated turnover of ` 4,46,339 crore (US$ 74.5 billion), cash profit of ` 33,980 crore (US$ 5.7 billion) and net profit of ` 22,493 crore (US$ 3.8 billion) for the year ended March 31, 2014.
RIL is the first private sector company from India to feature in Fortune's Global 500 list of 'World's
Largest Corporations' and continues to be featured for the 11th consecutive year, currently ranking
114th in terms of revenues and 155th in terms of profits. RIL ranks 194th in the Financial Times' FT Global 500 2014 list of the world's largest companies. As per Newsweek's Green Rankings
2014, RIL is India's greenest and most environment-friendly company, ranking 185th among the world's largest 500 companies.
About Shandong Ruyi Science & Technology Group (Ruyi)
Ruyi with a revenue in excess of US$ 3 billion, has a significant presence in China, Japan, Australia, Europe, America, Korea, among other regions across the globe. It has made investments in Japan, UK and Australia in the recent past. It has partnerships with global players such as Itochu, Japan and owns or operates a portfolio of world renowned brands such as Taylor
& Lodge, Harris Tweed, Nogara, Aquascutum, D'urban etc. With a view to expand its international footprint, Ruyi has made significant investments in UK, South Korea, China, Australia, New Zealand etc.
Key Contact:
Tushar Pania
Reliance Industries Ltd.
+ 91 9820088536 tushar.pania@ril.com
Registered Office: Corporate Communications Telephone : (+91 22) 2278 5000
Maker Chambers IV Maker Chambers IV Telefax : (+91 22) 2278 5185
3rd Floor, 222, Nariman Point 1st Floor, Nariman Point Internet : www.ril.com
Mumbai 400 021, India Mumbai 400 021, India
CIN: L17110MH1973PLC019786
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