State cement producer Semen Indonesia (SMGR) builds a strategic alliance with Japan-based Taiheiyo Cement Corporation (TCC), leading SMGR to become the largest firm in the Asian region. TCC also holds 15.04% shares in SMGR’s unit, Solusi Bangun Indonesia (SMCB). TCC acquired SMCB for US$220 million, equivalent to Rp3.1 trillion.
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