Co-deformation of Al and Ti by accumulative roll bonding (ARB) with intermediate heat treatments is utilized to prepare multi-layered Ti/Al sheets. These sheets show a high specific strength due to the activation of various hardening mechanisms imposed during deformation, such as: hardening by grain refinement, work hardening and phase boundary hardening. The latter is even enhanced by the confinement of the layers during deformation. The evolution of the microstructure with a special focus on grain refinement and structural integrity is traced, and the correlation to the mechanical properties is shown.