# Saint-Gobain forms joint venture to acquire Indocement mortars business in Indonesia

Saint-Gobain completed a joint venture with Indocement's subsidiary to acquire Indocement's mortars business in Indonesia. Saint-Gobain holds 60% of the JV, which includes three production lines under the Tiga Roda brand, generating close to €20 million in 2025 sales.

- Type: Acquisition
- Announced: 2025-12-30
- Where: Indonesia, Indonesia
- Status: completed
- Products: mortars, white skim coat, grey mortar
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Saint-Gobain](https://endata.com/companies/1801.md) (acquirer)
- [PT Cipta Mortar Utama](https://endata.com/companies/27802.md) (partner)
- [Indocement Tunggal Prakarsa](https://endata.com/companies/65455.md) (target)
- [Cipta Mortar Utama](https://endata.com/companies/89387.md) (partner)
- [PT Pionirbeton Industri](https://endata.com/companies/89388.md) (partner)

## Sources

- [indocement.co.id](https://www.indocement.co.id/en/news-events/indocement-and-saint-gobain-strengthen-mortar-business-in-indonesia), 2025-12-30: "PBI sold 60% of MPU shares to CMU."
- [news.europawire.eu](https://news.europawire.eu/saint-gobain-forms-joint-venture-to-acquire-indocement-mortars-business-in-indonesia/eu-press-release/2026/01/05/11/38/36/167251/), 2025-12-30: "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%."
- [tradingview.com](https://www.tradingview.com/news/reuters.com,2026:newsml_FWN3Y4016:0-saint-gobain-to-acquire-indocement-s-mortar-activities-in-indonesia-via-jv/), 2026-01-05: "Saint-Gobain signs a joint venture to acquire Indocement’s mortars operations in Indonesia."
- [kalkine.co.uk](https://kalkine.co.uk/news/general-news/saint-gobain-lsesgob-forms-mortars-jv-in-indonesia), 2026-01-05: "Saint-Gobain (LSE:SGOB) entered into a joint venture with a subsidiary of Indocement Tunggal Prakarsa, an Indonesian cement producer listed on the local stock exchange and majority-owned by Heidelberg Materials."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.