• Saint-Gobain Forms Joint Venture to Acquire Mortars Business in Indonesia
JAKARTA, Indonesia – French materials group Saint-Gobain announced it has formed a joint venture with a subsidiary of Indocement Tunggal Prakarsa to acquire Indocement’s mortars business, expanding its construction chemicals footprint in the country.
What is new?
On December 30, 2025, Saint-Gobain formed a new joint venture to acquire the mortars business of Indocement in Indonesia. The venture will be 60% held by Saint-Gobain, with the remaining 40% held by a subsidiary of Indocement Tunggal Prakarsa, a publicly traded Indonesian cement company.
Deal Details
The acquisition brings Indocement’s mortars business, which operates under the Tiga Roda brand, into the joint venture. This business is well-established in Indonesia, with three production lines and estimated sales of nearly €20 million in 2025. Tiga Roda is a leading brand in white skim coat for finishing.
The joint venture partner’s parent company, Indocement Tunggal Prakarsa, is 53% owned by Heidelberg Materials. The new entity aims to leverage the strengths of both Saint-Gobain and Indocement, a leading cement manufacturer in Indonesia, to accelerate growth.
Strategic Rationale
This transaction is part of Saint-Gobain’s “Lead & Grow” strategic plan to strengthen its business profile and enhance its presence in the high-growth Indonesian market. The company stated the Tiga Roda brand is highly complementary to its existing mortars business, Cipta Mortar Utama (CMU), in both product categories and geographic reach.
Indonesian Operations
Saint-Gobain has been present in Indonesia since 1995, where it currently operates 14 production lines and employs approximately 1,300 people. Its existing business, CMU, is a leading player in the Indonesian mortars market with eight production lines and a network of nearly 30,000 points of sale. The company also operates in Indonesia through its GCP and FOSROC brands, which focus on concrete admixtures, cement additives, and technical mortars.
About this company
Saint-Gobain is a worldwide leader in light and sustainable construction. The company designs, manufactures, and distributes materials and services for the construction and industrial markets. Its stated purpose is “MAKING THE WORLD A BETTER HOME.”
In 2024, the group reported €46.6 billion in sales and had more than 161,000 employees with a presence in 80 countries. Saint-Gobain is committed to achieving net zero carbon emissions by 2050.
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