40 years of history, following trends and business opportunities.
Transformation as a key of success.
A 40-YEAR JOURNEY AND BEYOND
Across 4 phases and transformations: from 1979 to the present
Duferco Group was originally born in 1979 as a company operating in the steel trading sector. Over the years, after achieving significant results as a leading global steel trader, the Group during the 1990s decided to acquire steel production assets in several countries.
Having consolidated and verticalized its presence in the steel market, Duferco diversified its business, expanding in three other sectors: energy, shipping and innovation.
Despite the remarkable expansion both in areas and in operations, its ownership is still under the passionate guide of its Founder, Bruno Bolfo, and his family.
Over 40 years of history, following trends and business
PURE STEEL TRADING
Duferco is a "pure steel trader" covering with increasing success a Global presence and profitable business operations.
1979 Bruno Bolfo, Chairman of the Board, and a group of other steel professionals to exploit the advantages of "emerging markets" in steel production established Duferco. Based in New York and Sao Paulo, the Company, through its relationship with local steel producers, quickly became the leading independent exportersof Brazilian steel throughout the World.
In the early 1980s, using its success in Brazil as a springboard, Duferco began to source steel products in other Countries. Firstly in other South American Countries, with its largest success in Argentina, Venezuela and Mexico, then in North America and Europe, with the first European office opening in London in 1981 and a chain of offices during the late 1980s. After Thailand, the Company opened offices in Taiwan, the Philippines, Singapore, Hong Kong, China and South Korea.
Duferco is an international “industrial player” implementing a significant acquisition campaign (of industrial units) in Western Europe, Eastern Europe, Russia, USA, South Africa and Central America.
In the mid-1990s,the Company opened a large number of offices in Eastern Europe, putting in place an infrastructure in anticipation of the growth of the area as an export market. Duferco also launched ancillary trading operation sin the field of raw materials primarly related to the steel industry, such as coke, coal, iron ore, scrap, pig iron, D.R.I. and related products, maximizing its cotacts with steel producers troughout the World.
The ability of the Duferco’s key-people lead the Company to exploit two occurences in the mid-1990s in Europe as true growth-opportunities.
This long, exciting and intense phase ended in 2011 with the disposal of the shareholding of the controlling stake of the majority of the Industrial Units. In favor of a new horizon made of Energy.
VERTICALLY INTEGRATED STEEL AND ENERGY TRADER
The Duferco Group face a new phase of its history
Following the intuition of its key-manager, Duferco disposed the steel production and founded Duferco Energia SpA, to manage the growing corporate investments in the renewable energy production, and to lead the commercialization of Energy and Gas in the Italian Market.
Today Retail Operations became part of a portfolio of activities that includes significant projects in the Renewable Power Production, as well as Renewable Power Origination.
In 2015, the Group decided to sell the majority of its steel trading arm, Duferco International Trading Holding SA (DITH) to Hesteel Group (formerly named Hebei Iron & Steel Group), the largest steel producer in China.
While maintaining a significant minority stake in DITH, Duferco has strategically decided to leave its historical core business and focus on its new diversified operations.
Following the disposal of the controlling stake of the steel trading arm to Hesteel Group, sees Duferco as a diversified investor with main focus on three areas:
1. Energy (trading, renewable power production, origination and retail)
3. Industry (steel production and distribution)
The legacy with the past and the ability to capture fundamental trends in the business is a key heritage that has been deeply consolidated into the mind-set of the “people of Duferco” over the years and that is now going to be the basis for the future developments of the Group.
FOUR BUSINESS AREAS
With a very positive result in 2018, Duferco Group is showing strong capability in mastering its four business areas both distinctly and enhancing synergies and connections between them.
Embracing innovation and digitization, the Group kept investing in new advanced tools (machine learning, AI, IoT, etc.) and in a growing digital task force.
Increasing investments in R&D, boost of cross-fertilization and synergies between business areas were set as our goals for next few years, leveraging on Group’s ability to manage joint-venture alliances.
In addition, the Group throw the Duferco Day, held in Brescia in October 2019, that gathered for the first time all the Duferco people to celebrate the Group’s 40th birthday.
MANAGEMENT OF THE COVID PANDEMIC
With the outbreak of the pandemic, the Group reacted rapidly taking all the necessary measures both at Group and at company level in order to secure first and foremost its people and families.
In the offices, companies faced a remarkable challenge, as they shifted within a few days the work mode of the whole office population to remote mode, which required an important effort in order to guarantee safety to people and at the same time business continuity and solidity.
Simultaneously, Duferco Group masters its four business areas both distinctly and enhancing synergies and connections between them.
THE NEW ROLLING MILL
An ambitious project looking to the future. A strong investment that confirms the attitude of Duferco Group to innovation.
The plant will have the lowest possible environmental impact, thanks to the use of the best available technologies and energy-saving systems and it will be powered by energy from renewable sources.
In 2019, we celebrated the 40th anniversary from the beginning of our journey (1979-2019) and gathered the entire Duferco family widespread all around the world. For the first time employees and collaborators met all together at the Duferco Day to learn about the past, reflect on the present and build the future of the Group.
The outcome of this unique moment of sharing was the opportunity to talk about our past, consider the challenge of the present and exchange ideas about the Group’s future together.