Saint-Gobain Forms Joint Venture to Acquire Indocement Mortars Business in Indonesia

Saint-Gobain Forms Joint Venture to Acquire Indocement Mortars Business in Indonesia

(IN BRIEF) Saint-Gobain has completed the formation of a joint venture with a subsidiary of Indocement Tunggal Prakarsa to acquire Indocement’s mortars business in Indonesia. The new JV, 60% owned by Saint-Gobain, brings together the Tiga Roda mortars brand and Saint-Gobain’s existing CMU platform, creating a stronger and more comprehensive presence across the Indonesian market. With complementary product portfolios, expanded geographic reach, and combined industrial capabilities, the partnership is positioned to accelerate growth in the country’s promising mortars segment. The transaction supports Saint-Gobain’s “Lead & Grow” strategy and strengthens its global construction chemicals footprint.

(PRESS RELEASE) COURBEVOIE, 5-Jan-2026 — /EuropaWire/ — Saint-Gobain has formed a new joint venture in Indonesia with a subsidiary of Indocement Tunggal Prakarsa to acquire Indocement’s mortars business, strengthening its footprint in one of Southeast Asia’s most dynamic construction markets. The transaction was completed on December 30, 2025, with Saint-Gobain holding a 60% stake in the joint venture and Indocement retaining the remaining 40%.

The acquired mortars business operates three production lines in Indonesia under the well-established Tiga Roda brand and is expected to generate close to €20 million in sales in 2025. Tiga Roda is a leading brand in white skim coat finishing solutions and is highly complementary to Saint-Gobain’s existing Indonesian mortars platform, Cipta Mortar Utama (CMU). Together, the two businesses enhance product coverage and geographic reach, enabling closer customer engagement across the country.

Saint-Gobain has maintained a presence in Indonesia since 1995 and currently operates 14 production lines, employing approximately 1,300 people nationwide. CMU is the market leader in Indonesian mortars, supported by eight production lines, a broad product portfolio, and a distribution network of nearly 30,000 points of sale. CMU also benefits from Saint-Gobain’s strong position in construction chemicals in Indonesia through its GCP and FOSROC brands, covering areas such as concrete admixtures, cement additives, resin flooring, and technical mortars.

The newly established joint venture combines the operational strengths of CMU with Indocement’s position as a leading cement manufacturer in Indonesia. By leveraging complementary capabilities, the partners aim to accelerate growth in the Indonesian mortars market, which continues to benefit from sustained construction activity and infrastructure development.

This transaction aligns with Saint-Gobain’s “Lead & Grow” strategic plan and supports its ambition to further strengthen its business profile in high-growth markets. The acquisition reinforces the Group’s global expansion in construction chemicals and underlines its long-term commitment to Indonesia as a key growth region.

About Saint-Gobain
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group, celebrating its 360th anniversary in 2025, remains more committed than ever to its purpose “MAKING THE
WORLD A BETTER HOME”.

€46.6 billion in sales in 2024
More than 161,000 employees, locations in 80 countries
Committed to achieving net zero carbon emissions by 2050

Media Contacts:
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Saint-Gobain Analyst / Investor Contacts:
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SOURCE: Saint-Gobain