# Rio Tinto and Giampaolo Group complete Matalco aluminium recycling joint venture

Rio Tinto acquired a 50% equity stake in the Matalco business from Giampaolo Group for $700 million, forming a joint venture that combines North America's largest primary and secondary aluminium producers, with Matalco operating six US facilities and one Canadian site with a capacity of 900,000 tonnes per annum.

- Type: Acquisition
- Announced: 2023-01-12
- Where: United States
- Value: $700.0M
- Status: completed
- Capacity: 900,000 tonnes per annum
- Products: recycled aluminium, aluminium slab, aluminium billet
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Rio Tinto](https://endata.com/companies/4215.md) (acquirer)
- [Matalco](https://endata.com/companies/29685.md) (target)
- [Giampaolo Group](https://endata.com/companies/36740.md) (partner)

## Sources

- [stockopedia.com](https://www.stockopedia.com/share-prices/rio-tinto-NYQ:RIO/news/reg-rio-tinto-rio-tinto-giampaolo-group-complete-matalco-jv-urn:newsml:reuters.com:20231201:nRSA4597Va/), 2023-01-12: "Rio Tinto and Giampaolo Group have completed a transaction to form the Matalco joint venture, combining the strengths of North America's largest primary and secondary aluminium producers"

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