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

Rio Tinto will acquire a 50% equity stake in Giampaolo Group's Matalco business for $700 million, forming a joint venture to manufacture and market recycled aluminium products. Matalco operates seven facilities in the US and Canada with 900,000 tonnes per annum capacity.

- Type: Acquisition
- Announced: 2023-07-21
- Where: United States and Canada, United States
- Value: $700.0M
- Status: announced
- Capacity: 900,000 tonnes per annum
- Products: recycled aluminium billet and slab
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

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

## Sources

- [riotinto.com](https://www.riotinto.com/en/news/releases/2023/rio-tinto-and-giampaolo-group-enter-into-matalco-aluminium-recycling-joint-venture), 2023-07-21: "The joint venture will enable Rio Tinto to provide a broader range of high-quality and low-carbon, primary, recycled, and blended aluminium products, at a time when customers are looking for solutions to lower their carbon footprint."
- [stocks.observer-reporter.com](https://stocks.observer-reporter.com/observerreporter/article/bizwire-2023-7-21-rio-tinto-and-giampaolo-group-enter-into-matalco-aluminium-recycling-joint-venture), 2023-07-21: "Rio Tinto will acquire a 50% equity stake in Giampaolo Group’s wholly-owned Matalco business for $700 million."
- [scrapmonster.com](https://www.scrapmonster.com/news/metal-recycling/rio-tinto-giampaolo-group-signed-agreement-on-aluminum-recycling-joint-venture/88306), 2023-07-25: "Rio Tinto has entered into an agreement with Giampaolo Group on setting up a joint venture towards manufacturing and marketing recycled aluminum products."
- [lightmetalage.com](https://www.lightmetalage.com/news/industry-news/casthouse/rio-tinto-and-giampaolo-group-enter-into-matalco-aluminum-recycling-joint-venture/), 2023-07-25: "I am delighted to partner with Rio Tinto, a leader in the global aluminum industry."
- [foundry-planet.com](https://www.foundry-planet.com/d/rio-tinto-and-giampaolo-group-enter-into-matalco-aluminium-recycling-joint-venture/), 2023-08-11: "Investing in recycling is part of our drive to find better ways to deliver the low-carbon materials the world needs and provides a natural extension of our industry leading primary aluminium business."

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