Cymat Technologies Ltd. has signed a commercial agreement with Rio Tinto Alcan Inc to assume the customers of Rio Tinto's proprietary aluminum metal matrix composites business. The deal, signed on July 17, 2026, follows Rio Tinto's decision to exit the MMC business after more than 40 years due to a strategic reorganization. Cymat expects the transferred business to generate incremental annual revenue of $7.5 million to $10 million, and will pay Rio Tinto $750 per metric ton of MMC sold or used, up to a maximum of $500,000 over five years. Cymat plans to establish MMC production at its Mississauga plant, with capital costs estimated at $2 million, and aims to be operational by early Q2 2027. The agreement also transfers business development opportunities related to new European Union brake-disk standards that could expand the customer base.
Rio Tinto PLCCymat takes over Rio Tinto's MMC customers, adding $7.5-10M annual revenue.