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鈥檚 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鈥檚 mortars business in Indonesia, marking a major milestone in Saint-Gobain鈥檚 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鈥檚 operational leadership in the partnership, while also ensuring strong local expertise and market understanding through Indocement鈥檚 continued involvement.
Indocement鈥檚 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 鈧�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鈥檚 product positioning and market reach make it highly complementary to Saint-Gobain鈥檚 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鈥檚 extensive geographic coverage and strong customer relationships provide a solid platform for integrating the Tiga Roda brand into Saint-Gobain鈥檚 existing operations.
Beyond mortars, Saint-Gobain benefits from a robust presence in Indonesia鈥檚 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鈥檚 technical expertise and distribution strength with Indocement鈥檚 manufacturing scale and market insight to accelerate growth in Indonesia鈥檚 expanding mortars market.
This transaction aligns closely with Saint-Gobain鈥檚 long-term 鈥淟ead & Grow鈥� 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鈥檚 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.
