# Rio Tinto acquires 50% stake in Matalco for $700M

Rio Tinto Ltd. invested $700 million to acquire a 50% stake in Matalco Inc., a Brampton, Ont.-based aluminum recycler with six facilities in the U.S. and one in Canada.

- Type: Acquisition
- Announced: 2023-12-01
- Where: Brampton, Ontario, Canada
- Value: $700.0M
- Status: announced
- Capacity: 900,000 tonnes per year
- Products: recycled aluminum
- 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

- [financialpost.com](https://financialpost.com/mining/rio-tinto-aluminum-recycling-50-percent-stake-matalco/), 2023-12-01: "Rio Tinto has entered the global recycling race for aluminum through a $700-million investment in Brampton, Ont.-based Matalco Inc."

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