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April 2, 2001 		Feedback  
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Reliance to restructure textiles business

India's largest petrochemicals firm Reliance Industries Ltd said on Monday it plans to restructure its textiles business to boost margins and competitiveness.

"(Reliance) will focus on value-added product range of menswear and its Vimal brand," it said in a statement.

The firm will offer an employee separation scheme to 3000 workers, which represents nearly 20 per cent of its total workforce of over 15,000, it said in a statement.

The scheme is expected to cost Rs 800 million, it said.

The announcement came after markets closed on Monday. Reliance shares ended 0.37 per cent lower at the Bombay Stock Exchange, while the benchmark Bombay index fell over one per cent.

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