Cementos Argos is to create a joint venture (JV) with Saint-Gobain in Colombia that will develop mortar solutions for light and sustainable construction.
The project is seeking to strengthen the leadership of both companies in the region.
The move will combine the local presence of Argos with Saint-Gobain's global mortars technology.
Saint-Gobain specialises in the construction glass market, insulation and abrasives manufacturing in four different locations.
The transaction is expected to be completed in the coming months.