# Rio Tinto and Giampaolo Group form $700M aluminum recycling joint venture

Rio Tinto acquired a 50% equity stake in the Matalco business from Giampaolo Group for US$700 million, forming a joint venture to manufacture and market recycled aluminium products. The joint venture has seven facilities in the US and Canada with a capacity of 900,000 tons per year.

- Type: Acquisition
- Announced: 2023-11-30
- Where: United States and Canada, United States
- Value: $700.0M
- Status: completed
- Capacity: approximately 900,000 tons of recycled aluminium per year
- Products: recycled aluminium products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Matalco](https://endata.com/companies/29685.md) (target)
- [Giampaolo Group](https://endata.com/companies/36740.md) (partner)
- [Rio Tinto Alcan](https://endata.com/companies/44368.md) (acquirer)

## Sources

- [lexpert.ca](https://www.lexpert.ca/big-deals/rio-tinto-giampaolo-group-us700-million-aluminum-recycling-joint-venture/388078), 2024-08-23: "Rio Tinto acquired a 50 percent equity stake in the Matalco business from Giampaolo for US$700 million, representing a total joint venture value of US$1.4 billion."

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