Rio Tinto acquires 50% of the Canadian company Matalco

More precisely, it is the Matalco company that will become jointly owned by the two companies following the official ratification of the agreement. The boom in transport, construction and packaging sectors in our southern neighbors has contributed to an increase in demand for recycled aluminum, which Rio Tinto estimates at 70% over the next decade.

Globally, this sector is expected to grow by 60% over the same period. The agreement announced to the media on Friday announced that the operational aspect of Matalco’s six plants, which produce 900,000 tons of recycled aluminum annually, would remain under the control of the American company.

The partnership between the two North American aluminum magnates is part of a shared goal to increase production, with the primary intention of strengthening their presence in North America.

“We look forward to working with Giampaolo Group to support the transition to net zero emissions by increasing the production of recycled aluminum and offering closed-loop recycling solutions to help our customers reduce their carbon footprint to reduce.”

Jakob Stausholm – Managing Director of Rio Tinto

Tyrone Hodgson

Incurable food practitioner. Tv lover. Award-winning social media maven. Internet guru. Travel aficionado.

Leave a Reply

Your email address will not be published. Required fields are marked *