Saint-Gobain strengthens its Indonesian construction chemicals footprint through a joint venture with Indocement to acquire and expand a leading mortars business.
Saint-Gobain has taken a significant step to reinforce its footprint in Southeast Asia by expanding its construction chemicals operations in Indonesia through a strategic joint venture. On December 30, 2025, the Group entered into a partnership with a subsidiary of Indocement Tunggal Prakarsa, one of Indonesia’s leading cement manufacturers and a publicly listed company that is majority owned (53%) by Heidelberg Materials. The joint venture has been established to acquire Indocement’s mortars business in Indonesia, marking a major milestone in Saint-Gobain’s regional growth strategy.
Under the terms of the agreement, Saint-Gobain will hold a controlling 60% stake in the new joint venture, while the remaining 40% will be retained by Indocement Tunggal Prakarsa. This ownership structure reflects Saint-Gobain’s operational leadership in the partnership, while also ensuring strong local expertise and market understanding through Indocement’s continued involvement.
Indocement’s mortars business is a well-established operation in the Indonesian construction materials market. It currently operates three production lines under the widely recognized Tiga Roda brand and is expected to generate close to €20 million in sales in 2025. Tiga Roda has built a strong reputation, particularly in white skim coat products used for finishing applications, and enjoys a loyal customer base across multiple regions of Indonesia. The brand’s product positioning and market reach make it highly complementary to Saint-Gobain’s existing mortars activities in the country.
Saint-Gobain has maintained a presence in Indonesia since 1995 and today operates 14 production lines across the country, employing approximately 1,300 people. Its flagship mortars business, Cipta Mortar Utama (CMU), is the market leader in Indonesia, supported by eight mortars production lines, a broad and diversified product portfolio, and a distribution network encompassing nearly 30,000 points of sale nationwide. CMU’s extensive geographic coverage and strong customer relationships provide a solid platform for integrating the Tiga Roda brand into Saint-Gobain’s existing operations.
Beyond mortars, Saint-Gobain benefits from a robust presence in Indonesia’s wider construction chemicals segment through its GCP brand, specializing in concrete admixtures and cement additives, as well as FOSROC, which offers cement additives, resin flooring systems, and technical mortars. The newly formed joint venture is expected to leverage these complementary capabilities, combining Saint-Gobain’s technical expertise and distribution strength with Indocement’s manufacturing scale and market insight to accelerate growth in Indonesia’s expanding mortars market.
This transaction aligns closely with Saint-Gobain’s long-term “Lead & Grow” strategic plan, which prioritizes value creation through targeted investments in high-growth regions and high-performance construction solutions. By strengthening its presence in Indonesia, one of Southeast Asia’s most dynamic construction markets, Saint-Gobain continues to advance its global ambition of becoming a worldwide leader in construction chemicals while deepening customer intimacy and operational resilience.
