C K Birla Group firm Hyderabad Industries (HIL) today said it has signed a lease deed for acquiring a fibre cement sheets manufacturing facility in Saidpur, Punjab, for an undisclosed amount.

In a filing to the Bombay Stock Exchange, the company said it has executed a lease deed for taking over of a fibre cement sheets manufacturing facility situated at Saidpur, Punjab, with a capacity of 45,000 tonnes per annum.

"On acquisition, this unit shall cater to the needs of the growing fibre cement sheets market in the state of Punjab and its adjacent states and facilitates the company to increase its market share," the filing said.