Bruno Bolfo, one of the leading figures in the global steel industry and the founder of Duferco Group, has passed away.
The passing of Bruno Bolfo, who transformed Duferco into one of the world’s largest steel groups through his vision spanning from steel trading to production, has caused great sorrow across the international steel industry.
Bolfo founded Duferco in São Paulo, Brazil, in 1979 after leaving his position at Siderexport, the trading company of the former Italsider group. The company quickly became one of Brazil’s largest exporters and subsequently expanded its operations into North America and Europe. Recognizing years in advance the transformative impact that the internet would have on steel trading, Bolfo implemented a strategy in the mid-1990s that shifted the company’s focus from trading to steel production.
As a result of this transformation, Duferco reached an annual production capacity of approximately 8 million tonnes by 2004, becoming the world’s 34th-largest steel producer. The group provided employment to around 20,000 people across its facilities in Italy, Belgium, France, Denmark, Macedonia, Russia, the United States, Guatemala, and South Africa. In later years, the company diversified its activities through investments in sectors such as energy and shipping, further strengthening its position as a major global player in the steel industry.
Antonio Gozzi: “A true legend of the global steel industry”
In his condolence message, Duferco Group Chairman Antonio Gozzi described Bruno Bolfo as “a true legend of the global steel industry.”
Gozzi stated that Duferco had evolved into an industrial group operating on a global scale thanks to Bolfo’s entrepreneurial courage, vision, and leadership. He emphasized that Bolfo’s foresight in anticipating the impact of the internet on steel trading and his decision to move into production represented one of the most critical turning points in the company’s history.
He further highlighted that Bolfo was not only a successful businessman but also a leader who valued his employees, established a strong corporate culture, and spearheaded the group’s expansion into new sectors such as energy and shipping. Gozzi also noted that, in the later stages of his career, Bolfo actively supported the generational transition within the group.
According to Gozzi, Bruno Bolfo leaves behind a legacy built on entrepreneurial courage, confidence in the future, and a management philosophy based on respect for people.
“He taught us that value can only be created by maintaining balance and by showing respect to employees, customers, suppliers, and all stakeholders,” Gozzi said.
Concluding his message, Gozzi extended his condolences to Bruno Bolfo’s wife and children on behalf of the entire Duferco family, emphasizing that the company would continue to preserve his legacy and pass on the values he embraced to future generations.
