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In just the past four years, it has completed 12 acquisitions and increased revenues 23%. BISMARCK, N.D., Dec. 15, 2022 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) on Wednesday submitted a confidential draft registration statement on Form 10 with the U.S. Securities and . 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. The separation will result in two independent, publicly traded and well capitalized companies, which the MDU Resources board believes will leave each positioned well for durable growth and shareholder value creation. from 8 AM - 9 PM ET. Tailored capital allocation strategies: Each company will have enhanced flexibility to deploy capital to its specific growth opportunities. Audio and webcast replays will be available through Aug. 18, 2022, at 888-203-1112, or 719-457-0820 for international callers, passcode ID 3010359. Locations 1200 W. Century Ave. Bismarck, ND 58503, US Get directions Employees at MDU Resources Group, Inc. Steve Held Vladimir Terzic Harry Pearce Laura Lueder Manager of Communications and. The spinoff is expected to be completed during 2023, subject to customary closing conditions, including final approval by MDU Resources Board of Directors, receipt of a tax opinion, the filing and effectiveness of a Form 10 registration statement with the SEC and, if determined advisable, a private letter ruling from the IRS. These cookies ensure basic functionalities and security features of the website, anonymously. The national average salary for an employee at MDU Resources Group is $55,677 per year, or $26.77 an hour. In 1992, it acquired its first aggregates-mining company in central California, and has continued to expand its construction materials business . MDU Construction Services Group has resources across the country to get any job done. The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP. MDU Resources had announced on Aug. 4 its intent to separate Knife River as an independent, publicly traded company. It performs integrated contracting services. What is the strategic rationale for spinning off Knife River? MDU Resources Group, Inc. is a U.S.-based corporation supplying products and services to regulated energy delivery and utilities related construction materials and services businesses. In 2001, Knife River sold its remaining coal-mining interests. The staff at MDU Resources come from unusually diverse demographic backgrounds. What will happen to my outstanding stock? It also provides cathodic protection and other energy-related services. In 1997, MDU Resources started its utility services division, which over the years has expanded its construction services offerings and become the MDU Construction Services Group segment. Rebecca Dorwart has 6 months experience as Human Resources Special Projects Manager. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US. Some of the competitors of MDU Resources are Portland General Electric, The Williams Companies, and Peabody Energy. While the highest-paid employees at MDU Resources Group can earn over $92,000 a year, the lowest-paid employees earn less than . We work underground and overhead in the transmission and distribution industry. Fax: 701-323-3104. 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. 4% of MDU Resources employees are Black or African American. Search Keywords. Updates will be provided as the company moves toward completing the spinoff. 67% of the management team is White. Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. These cookies will be stored in your browser only with your consent. The company believes these non-GAAP financial measures are useful to investors by providing meaningful information about operational efficiency compared to the companys peers by excluding the impacts of differences in tax jurisdictions and structures, debt levels and capital investment. Montana-Dakota Utilities Headquarters is located at 400 N. Fourth Street, Bismarck, ND 58501-4092. Non-GAAP Financial Measures We are proud of the strong businesses we have built and are confident now is the right time to take this step to best serve our customers, employees, communities and shareholders.. The largest addition of electric utility territory came in 1945, when MDU purchased the Dakota Public Service Company (DPSC) from NorthWestern Public Service Company (NWPS) of Huron, South Dakota. Get email updates for new Senior Process Analyst jobs in Brea, CA. Your entire office will be able to use your search subscription. Initially, Minnesota Northern was only in the business of selling electric power, but entered the natural gas business following its discovery of oil in 1936 in the Williston Basin in Eastern Montana. WBI Energy provides natural gas transportation and underground storage services through regulated pipeline systems primarily in the Rocky Mountain and northern Great Plains regions of the U.S. and provides non-regulated cathodic protection and other energy-related services. The distribution systems in these towns passed into MDU ownership by the early 1940s. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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. A strong infrastructure is the heart of our country's economy. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. On Nov. 3, MDU Resources announced it was undertaking a strategic review of its construction services business, MDU Construction Services Group, Inc. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. You must click the activation link in order to complete your subscription. Executive Summary. However with being a great place to work comes longevity. 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? [13], 2016 Portland gas explosion - Loy Clark lawsuits, Last edited on 24 December 2022, at 15:11, Public Utility Holding Company Act of 1935, "MDU Resources Announces 2017 Financial Results, Initiates Guidance for 2018", "MDU - Mdu Resources Group Inc Profile | Reuters", "About Loy Clark Construction - Serving the Portland Metro & Washington", "Pipeline at NW 23rd Ave. blast site was not pierced", "Oregon natural gas explosion injures eight, destroys building", "NW 23rd blast: Excavator dug on wrong side of street, caused natural gas explosion, report says", "10 lawsuits filed in aftermath of NW 23rd Ave. explosions", "Portland bagel shop owners sue pipeline company over 2016 explosion that destroyed business", "Cascade Natural Gas Corp. merger completed", "MDU Resources to Acquire Intermountain Gas Company", https://en.wikipedia.org/w/index.php?title=MDU_Resources&oldid=1129292950, This page was last edited on 24 December 2022, at 15:11. MDU Resources Group, Inc. All rights reserved. mdu resources inc. With the spinoff, it is expected that MDU Resources shareholders will retain their current shares of MDU Resources stock and receive a pro rata distribution of shares of Knife River stock in a transaction that is expected to be tax free to MDU Resources and its shareholders for U.S. federal income tax purposes. If you experience any issues with this process, please contact us for further assistance. 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. Compelling Benefits of the Separation BISMARCK, N.D., Dec. 15, 2022 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) on Wednesday submitted a confidential draft registration statement on Form 10 with the U.S. Securities and Exchange Commission in connection with the planned spinoff of its construction materials business, Knife River Corporation. MDU Resources Group, Inc. is a U.S.-based corporation supplying essential products and services through its regulated energy delivery and construction materials and services businesses. The Construction Materials and Contracting segment mines, processes, and sells construction aggregates; produces and sells asphalt mix; and supplies ready-mixed concrete in the central, southern, and western United States, as well as Alaska and Hawaii. MDU Resources employees are most likely to be members of the republican party. Changes in such assumptions and factors could cause actual future results to differ materially. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. MDU Resources company charter does not require a shareholder vote to complete the transaction. mdu resources group inc. mdu resources. MDU Resources also announced today its second quarter financial results, which can be found on the companys website atwww.mdu.com. 18 Deep, 3Wide, 7Tall 4.5% Sales Tax will be applied For additional information, contact Jack VandeKop @ (605) 340-5256 Despite its diversity in other areas, MDU Resources employees are noticeably lacking in political diversity. I am an MDU Resources shareholder. About MDU Resources Forward-Looking StatementThe information in this release includes certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. It does not store any personal data. MDU Resources competitors include The Williams Companies, SandRidge Energy, Energy Transfer Solutions, Peabody Energy, Cenergy International Services, Kinder Morgan, Exelon, Portland General Electric, South Jersey Industries, Salt River Project, Octagon 88 Resources, DTE (Detroit Tool & Engineering), Green Mountain Power. Terry Hildestad donated The USC Career Center is open - in person and online - as always, all of our services and resources are available to you, including advising, job and internship opportunities, programs, workshops, career fairs, and more. Project Manager at Mdu Resources Group Inc. Project Managers are responsible for planning, implementing, and managing projects. 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. We expect this transaction to create significant value for our shareholders and believe it will enable us to achieve attractive shareholder returns at both companies, Goodin said. This category only includes cookies that ensures basic functionalities and security features of the website. This will also involve communication with the various functional areas and assistance in the development of training programs. It generated $169 million of EBITDA in 2021. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. The following table provides a reconciliation of consolidated GAAP net income to EBITDA for 2021. It is expected that MDU Resources shareholders will retain their current shares of MDU Resources stock and also receive a pro rata distribution of shares of Knife River stock in a transaction that is expected to be tax free. Statement of Changes in Beneficial Ownership. It is mandatory to procure user consent prior to running these cookies on your website. On average, employees at MDU Resources stay with the company for 5.3 years. Second Quarter 2022 Financial Results But opting out of some of these cookies may have an effect on your browsing experience. You also have the option to opt-out of these cookies. They ensure a project is completed on time and within budget. MDU Resources board believes Knife River is poised to benefit from significant investments at the federal and local levels in infrastructure development and upgrades. Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. We are sorry, but your computer or network may be sending automated queries. Skip to content Skip to main nav. MDU Resources has great employee retention with staff members usually staying with the company for 5.3 years. The Oregon Public Utility Commission faulted MDU subsidiary[4][5] Loy Clark for the 2016 Portland gas explosion that leveled a building, sent asbestos fragments flying, damaged numerous buildings and injured eight people. MDU Resources may also be known as or be related to MDU Resources, MDU Resources Group, MDU Resources Group Inc and MDU Resources Group, Inc. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. Corporate Employee (Current Employee) - Bismarck, ND - January 17, 2014. Cenergy International Services Employment, Basin Electric Power Cooperative Employment, CrossCountry Freight Solutions Employment, Heavy Equipment Operator MDU Resources Jobs, Apprentice Electrician MDU Resources Jobs. The company is 37.8% female and 18.4% ethnic minorities. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. Primary Address. 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). The event can be accessed atwww.mdu.com. MDU Resources Group, Inc. is a U.S.-based corporation supplying products and services to regulated energy delivery and utilities related construction materials and services businesses. Help us make this company more transparent. The company's filing status is listed as Active and its File Number is 1981716. Communities Served North Dakota South Dakota Montana Wyoming Location United States, North Dakota, Bismarck Last Update 2021-06-04 Remove my profile . "With the substantial progress we have made, we are expecting the spinoff of Knife River to be complete in the second quarter of 2023," said David L. Goodin, president and CEO of MDU Resources. BISMARCK, N.D.,Aug. 4, 2022/PRNewswire/ MDU Resources Group, Inc. (NYSE: MDU) today announced that its board of directors has unanimously approved a plan to separate its wholly owned construction materials business, Knife River Corporation, from the company. [6] The damages totaled $17.2 million. 1015 1200 W. Century Ave. Bismarck, ND 58503 Email MDU Construction Services Group, Inc. Tom Nosbusch 701-530-1352 1150 W. Century Ave. Bismarck, ND 58503 Email WBI Energy, Inc. Melinda Steckler 701-530-1025 or 800-437-8000, ext. Zippia gives an in-depth look into the details of MDU Resources, including salaries, political affiliations, employee data, and more, in order to inform job seekers about MDU Resources. Based on our data team's research, David L. Goodin is the MDU Resources's CEO. These forward-looking statements, including key growth strategies, projections, certain assumptions and strategies of MDU Resources and the independent companies following the proposed spinoff, the anticipated benefits of the spinoff, and the expected timing of completion of the spinoff, are only predictions and involve known and unknown risks and uncertainties, many of which are beyond MDU Resources control, and could cause actual results to differ materially from those indicated in such forward-looking statements. Founded in 1966, ESI, Inc. is part of the MDU Resources family of companies. Knife River Corporation is now among the largest sand and gravel producing companies in the U.S. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. We also use third-party cookies that help us analyze and understand how you use this website. Knife River is always looking for good people to join our team. Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. [8] Ten lawsuits were filed against Loy Clark in November 2018 and two of which were by insurers who had paid out claims. Rebecca works for Mdu Resources Group Inc. Rebecca Dorwart has been with Mdu Resources Group Inc. for 6 months and is in Lower Management, Rebecca's role is Manager: Project Manager, Human Resources Special Projects Manager. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. 79 were here. Rebecca Dorwart's job functions are Human Resources, Operations, Rebecca Dorwart's work email address is ***************@mdu.com, Rebecca Dorwart's LinkedIn profile can be found at, Rebecca Dorwart's work phone number (HQ) is +1 701-530-1***. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Media Contact:Laura Lueder, MDU Resources manager of communications and public relations, 701-530-1095 Since MDU Resources first aggregate company acquisition in 1992, weve built Knife River into a leading aggregates-based construction materials business. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, MDU Resources Board of Directors Names Leadership for Knife River Upon Separation, MDU Resources Declares Quarterly Dividend on Common Stock. But opting out of some of these cookies may affect your browsing experience. 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. Visit the Career Advice Hub to see tips on interviewing and resume writing. Bismarck, ND 58506. [7] Additionally, OSHA cited and fined Loy Clark for safety violations as a result of this incident. Join an amazing team that is consistently recognized for our achievements and culture, including our most recent Forbes award of being one of America's Best Midsize Employers for 2023! The company was founded in 1924 as a small electric utility serving a handful of farm communities on the border of Montana and North Dakota. The company was founded in 1924 and is based in Bismarck, North Dakota. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. We build complex, diverse projects for our customers and we're always looking for team members to contribute to our success. Intermountain is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". Western National Group. Looking for Montana-Dakota Utilities? Creates financial and strategic flexibility for each company to focus on core business opportunities. These cookies will be stored in your browser only with your consent. Details of Separation Transaction 1150 W. Century Ave. The two 'Eastern Montana' utilities became the nucleus of Montana-Dakota Utilities' operations. [8] Two additional lawsuits were filed against Loy Clark in December 2019.