Saint-Gobain has strengthened its presence in Indonesia’s construction chemicals market by forming a joint venture (JV) with a subsidiary of Indocement Tunggal Prakarsa, a publicly traded Indonesian cement company 53% owned by Heidelberg Materials. The JV will acquire Indocement’s mortars business, with Saint-Gobain holding 60% and Indocement 40% of the new entity.
Acquisition of a Leading Mortars Brand
Indocement’s mortars business, marketed under the Tiga Roda brand, is a well-established player in Indonesia with three production lines and estimated sales of nearly €20 million in 2025. Tiga Roda specializes in white skim coat for finishing, complementing Saint-Gobain’s existing mortars operations under Cipta Mortar Utama (CMU). This combination strengthens both product offerings and geographic reach, enhancing customer engagement across the country.
Leveraging Local Expertise and Scale
Saint-Gobain has operated in Indonesia since 1995, currently managing 14 production lines and employing around 1,300 people. CMU leads the local mortars market with 8 production lines, a broad product portfolio, and nearly 30,000 points of sale. The brand also benefits from Saint-Gobain’s broader construction chemicals presence, including GCP (concrete admixtures and cement additives) and FOSROC (cement additives, resin flooring, and technical mortars).
Strategic JV to Accelerate Growth
The newly formed JV will leverage the complementary strengths of Saint-Gobain’s CMU and Indocement’s market knowledge to accelerate growth in Indonesia’s promising mortars sector. By combining Saint-Gobain’s technical expertise with Indocement’s local cement manufacturing capabilities, the JV is well positioned for growth. It aims to expand market penetration and strengthen customer intimacy.
Alignment with Saint-Gobain’s Global Strategy
As per the press release, the acquisition aligns with Saint-Gobain’s “Lead & Grow” plan, reinforcing the Group’s strategy to strengthen its worldwide presence in construction chemicals. It enhances Saint-Gobain’s profile in the high-growth Indonesian market. It also underscores the company’s commitment to long-term growth through strategic partnerships and market consolidation.
