The TiNbZr/(Ti, Nb)B metal matrix composite with 2.5 vol.% of borides was produced by vacuum arc melting. The composite was then cold-rolled to thickness strains of 10, 20, 50, or 80%. In the initial condition, the composite had a network-like microstructure consisting of the soft TiNbZr matrix (dendrites) and the rigid (Ti, Nb)B shell (interdendritic space