When typing in this field, a list of search results will appear and be automatically updated as you type. USA. Corporate Employee (Current Employee) - Bismarck, ND - January 17, 2014. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. Its founder, Rolland Heskett, had previously been involved with utilities in Wisconsin and northeast Minnesota (the forerunners of Wisconsin Public Service Corporation and Minnesota Power (& Light Co.), respectively). The PUC faulted Loy Clark and listed the cause of the accident as Loy Clark's failure to give sufficient notifications to regulators about excavation plans. Copyright 2022 MDU Resources Group, Inc.. All rights reserved. The combined utility business has a rate base of $2.8 billion and is expected to make $1.6 billion in capital investments over the next five years. The MDU Resources board believes the proposed separation will unlock the inherent value within the two companies, which have unique growth prospects and investment opportunities. Dennis W. Johnson, chair of MDU Resources board, said, The board regularly assesses MDU Resources business, operations and value creation opportunities. MDU Resources Group, Inc. Marketing Contacts Contacts (5/13) Name Title State . Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. Your entire office will be able to use your search subscription. Working at MDU Resources Group, Inc.: 8 Reviews Review this company Job Title All Location United States8 reviews Ratings by category 3.4 Work-Life Balance 3.9 Pay & Benefits 3.3 Job Security & Advancement 3.4 Management 3.6 Culture Search reviews Sort by Helpfulness Rating Date Showing all 8 reviews 4.0 Job Work/Life Balance Compensation/Benefits The staff at MDU Resources come from unusually diverse demographic backgrounds. Knife River produces and delivers aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, asphalt and other value-added products. You will love working at Western! You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Analytical cookies are used to understand how visitors interact with the website. But opting out of some of these cookies may affect your browsing experience. MDU Resources will discuss todays separation announcement as well as its second quarter results during a webcast at 8:30 a.m. EDT Aug. 4, 2022. Cascade is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". We expect Knife River shares to be distributed immediately upon the completion of the spinoff transaction, which we expect to occur during 2023. We believe the spinoff will create many compelling benefits, including: With a successful track record of organic and M&A-driven growth, we have built Knife River into a leading aggregates-based construction materials business. Conference Call MDU Construction Services Group, Inc. is an industry-leading specialty contractor, We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. MDU Resources Group, Inc. Anne Jones 701-530-1015 or 800-437-8000, ext. It also performs integrated contracting services for most types of aggregate-related construction, including roads, freeways, bridges, residential properties, schools, shopping centers, office buildings and industrial parks. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. The words believe, continue, could, expect, anticipate, intends, estimate, forecast, project, should, may, will, would or the negative thereof and similar expressions are intended to identify such forward-looking statements. On Nov. 3, MDU Resources announced it was undertaking a strategic review of its construction services business, MDU Construction Services Group, Inc. Given its size and scale today, the MDU Resources Board of Directors believes now is the right time to spin off Knife River to unlock additional value for both MDU Resources and Knife River. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. The Pipeline and Midstream segment provides natural gas transportation, underground storage, and gathering services primarily in the Rocky Mountain and northern Great Plains regions. View original content to download multimedia. For a discussion of important factors that could cause actual results to differ materially from those expressed in the forward-looking statements, refer to Item 1A-Risk Factors in MDU Resources' most recent Form 10-Q and 10-K. Financial Contact:Brent Miller, director of financial projects and investor relations, 701-530-1730Media Contact:Laura Lueder, manager of communications and public relations, 701-530-1095, Cision Distribution 888-776-0942 7% of MDU Resources employees are Hispanic or Latino. Knife River generated $293 million of EBITDA in 2021. MDU Resources Group engages in the regulated energy delivery, construction materials and services businesses. Non-GAAP financial measures are not standardized; therefore, it may not be possible to compare such financial measures with other companies non-GAAP financial measures having the same or similar names. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. [7] Additionally, OSHA cited and fined Loy Clark for safety violations as a result of this incident. Creates financial and strategic flexibility for each company to focus on core business opportunities. DPSC served a total of 91 towns in west-central North Dakota originally served by the Hughes Electric Company/North Dakota Power & Light Company (NDP&L) and south-central North Dakota/north-central South Dakota originally served by the Northern Power & Light Company (NP&L). Fax: 701-323-3104. These cookies track visitors across websites and collect information to provide customized ads. Enhanced strategic focus: Each business will be able to pursue individualized strategies specific to the industries in which it operates, and use equity tailored to its own business to enhance acquisition programs and retention and hiring. These cookies ensure basic functionalities and security features of the website, anonymously. What is the strategic rationale for spinning off Knife River? The most common ethnicity at MDU Resources is White (82%). The separation is expected to be completed in 2023. It also distributes cement and asphalt oil. It served approximately 938,867 residential, commercial, and industrial customers in 335 communities and adjacent rural areas. ESI, Inc. honored with industry Safety Achievement Award for outstanding injury and illness statistics On average, employees at MDU Resources stay with the company for 5.3 years. Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. But opting out of some of these cookies may have an effect on your browsing experience. MDU Resources expects approximately 70% of its pro forma EBITDA to be generated from its regulated businesses, providing low-risk, stable returns to shareholders. The companys management uses the non-GAAP financial measures in conjunction with GAAP results when evaluating the companys operating results internally and calculating compensation packages. [8] Two additional lawsuits were filed against Loy Clark in December 2019. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. We also use third-party cookies that help us analyze and understand how you use this website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Throughout this news release, MDU Resources presents financial information prepared in accordance with GAAP, as well as Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), which is considered a non-GAAP financial measure. The distribution systems in these towns passed into MDU ownership by the early 1940s. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Click Here. Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. The forward-looking statements contained in this release, including statements about MDU Resources' goal to create two pure-play public companies, its planned separation of Knife River Corporation and its strategic review of MDU Construction Services Group, are expressed in good faith and are believed by the company to have a reasonable basis. Necessary cookies are absolutely essential for the website to function properly. MDU Resources has great employee retention with staff members usually staying with the company for 5.3 years. The company's filing status is listed as Active and its File Number is 1981716. Company Mdu Resources Group Inc. Employee Directory. How long have you been considering this? MDU Resources employees are most likely to be members of the Republican Party. Tailored capital allocation strategies: Each company will have enhanced flexibility to deploy capital to its specific growth opportunities. Distinct investment opportunities: Investors will have two compelling investment opportunities and will be able to better assess the value of the two companies based on their respective operational and financial characteristics. Support Product Field and Product Research & Development on Rule and Underwriting Guideline analysis and recommendations for both current features and offerings, and those that will be developed in the future. MDU Resources employees are most likely to be members of the republican party. We provide industry leading services with a focus on safety. The cookie is used to store the user consent for the cookies in the category "Other. Necessary cookies are absolutely essential for the website to function properly. MDU Resources Group, Inc. engages in regulated energy delivery, and construction materials and services businesses in the United States. This cookie is set by GDPR Cookie Consent plugin. No. Our most recent assessment determined that a separation of Knife River could unlock significant value. These cookies will be stored in your browser only with your consent. Since MDU Resources first aggregate company acquisition in 1992, weve built Knife River into a leading aggregates-based construction materials business. Who is MDU Resources Group Headquarters 1200 W Century Ave, Bismarck, North Dakota, 58503, United States Phone Number (701) 530-1000 Website www.mdu.com Revenue $5.9B Stock Symbol MDU Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment MDU Resources Group's Social Media Is this data correct? MDU Resources is in the electric power natural gas construction industry.
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