PURPOSE: To improve ductility and strength and to reduce cost by compounding a fiber reinforcing material formed of intermetallic compd. fibers produced by liquid quick cooling with a metallic matrix.

CONSTITUTION: A preform 2 formed by bundling fiber reinforcing materials such as, for example, Ni3Al intermetallic compd. obtd. by liquid quick cooling is installed into a metallic mold 3 and a molten metal 4 is poured into the mold 3. A composite material is then pressure molded by using a pressing jig. The composite material constituted in such a manner is not only good in ductility and strength but also low in the production cost. The composite material is, therefore, effectively utilized as a fan plate for a jet engine, moving vane of a turbine, etc.