The French company Saint-Gobain (Compagnie de Saint-Gobain) has established a joint venture with the Indonesian cement company Indocement Tunggal Prakarsa. This is reported in the Saint-Gobain press release.
The deal is aimed at acquiring the production of Indocement building mixes in Indonesia. Saint-Gobain will own 60% of the shares in the joint venture, while Indocement Tunggall Prakarsa, in which Heidelberg Materials owns 53% of the shares, will hold the remaining 40%.
The production of Indocement building mixes includes three production lines under the Tiga Roda brand with sales of 20 million euros. Tiga Roda is a leading brand in the production of white finish coatings and complements Saint-Gobain's Cipta Mortar Utama (CMU) building mixes business.
The joint venture will use CMU and Indocement technologies to accelerate growth in Indonesia's promising mortar market. The deal is in line with Saint-Gobain's strategy to further strengthen its position in the fast-growing Indonesian market and the global construction chemicals market.
Saint-Gobain operates 14 production lines in Indonesia. Cipta's subsidiary Mortar Utama is a leading supplier in the Indonesian market through a wide range of products, including the GCP and FOSROC brands, as well as through a network of 30,000 points of sale.
Saint-Gobain is a French company in the field of eco—friendly construction and the production of materials for the construction and industrial markets. The headquarters is located in Courbevoie (a suburb of Paris, France).
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