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

Rio Tinto has 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. Matalco operates six facilities in the US and one in Canada with capacity of about 900,000 tonnes per year.

- Type: Acquisition
- Announced: 2023-12-01
- Where: United States and Canada, United States
- Value: $700.0M
- Status: completed
- Capacity: 900,000 tonnes per annum
- Products: recycled aluminium slab and 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)
- [Giampaolo Group](https://endata.com/companies/36740.md) (target)

## Sources

- [sec.gov](https://www.sec.gov/Archives/edgar/data/863064/000162828024000045/ex02d01matalco.htm), 2023-12-01: "Creating the Matalco joint venture gives Rio Tinto a leading position in the rapidly growing North American recycled aluminium market."
- [stocks.observer-reporter.com](https://stocks.observer-reporter.com/observerreporter/article/bizwire-2023-12-1-rio-tinto-and-giampaolo-group-complete-matalco-aluminium-recycling-transaction), 2023-12-01: "Creating the Matalco joint venture gives Rio Tinto a leading position in the rapidly growing North American recycled aluminium market."

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