We are always looking at our business mix for opportunities to enhance shareholder value. It performs integrated contracting services. Financial Contact:Jason Vollmer, MDU Resources vice president and chief financial officer, 701-530-1755. Compelling Benefits of the Separation The separation is expected to have a number of benefits for MDU Resources and Knife River stakeholders, including: MDU Resources: Regulated Utility and Infrastructure Business Focused on Building a Strong America MDU Resources Group, Inc. website Headquartered in Bismarck, ND, MDU Resources Group, Inc. is celebrating our 90th year of Building a Strong America with value-added natural resources products and related services that are essential to energy and transportation infrastructure. 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. We will diligently work through the separation process to ensure each company is optimized to deliver value for shareholders.. Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. MDU Resources board believes Knife River is poised to benefit from significant investments at the federal and local levels in infrastructure development and upgrades. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. Terry Hildestad donated 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. The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to completing the spinoff, as will the specific transaction structure. Knife River has more than 1 billion tons of aggregate reserves, 110 ready-mix plants, 50 asphalt plants and a combined 410,000 tons of liquid asphalt and cement storage. Enter the location for your project and choose the product youd like. 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 average employee at MDU Resources makes $52,489 per year. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. The separation will result in two independent, publicly traded and well . 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. 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. from 8 AM - 9 PM ET. Tailored capital allocation strategies: Each company will have enhanced flexibility to deploy capital to its specific growth opportunities. Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. 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. [10][11] Intermountain Gas Company, serving parts of Idaho, was acquired by MDU Resources in 2008. MDU Resources also announced today its second quarter financial results, which can be found on the companys website atwww.mdu.com. 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. We work underground and overhead in the transmission and distribution industry. For more information about MDU Resources, visit the company's website at www.mdu.com. Advisors Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Republican Party. Shortly after passage of the Public Utility Holding Company Act of 1935 (PUHCA), Heskett reorganized all the gas and electric subsidiaries of Minnesota Northern Power under a new name Montana-Dakota Utilities. Cascade is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". A strong infrastructure is the heart of our country's economy. No. 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! Employees at Portland General Electric earn more than most of the competition, with an average yearly salary of $79,561. MDU Resources is committed to establishing strong capital allocation strategies for each business that align with each businesss long-term goals. Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. Although MDU Resources believes that its expectations are based on reasonable assumptions, current expectations involve a number of risks and uncertainties. The Registered Agent on file for this company is Linda Beery and is located at 3020 Saturn Street Suite 101, Brea, CA 92821. By continuing to use this application, you consent to the use of cookies in accordance with our. They ensure a project is completed on time and within budget. 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 staff at MDU Resources come from unusually diverse demographic backgrounds. 400 N. Fourth St. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. You must click the activation link in order to complete your subscription. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US. -Jenna Lyons. To protect our site, we cannot process your request right now. 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. Select Year: Filter filing type: Date Filing Type Filing Description Download / View. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. About MDU ResourcesMDU Resources Group, Inc., a member of the S&P MidCap 400 and the S&P High-Yield Dividend Aristocrats indices, is Building a Strong America by providing essential products and services through its regulated energy delivery and construction materials and services businesses. Claiming and updating your company profile on Zippia is free and easy. This website uses cookies to improve your experience while you navigate through the website. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. Skip to content Skip to main nav. 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***. 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. Here are further demographic highlights of the leadership team: The MDU Resources executive team is 29% female and 71% male. The employees at The Williams Companies earn an average yearly salary of $72,686 per year, and the salaries at Peabody Energy average $70,107 per year. We are taking an important step to significantly enhance the value inherent in our businesses by creating two focused, independent publicly traded companies, said David L. Goodin, president and CEO of MDU Resources. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. You also have the option to opt-out of these cookies. MDU Resources got its start in 1924 as the Minnesota Northern Power Company. While the highest-paid employees at MDU Resources Group can earn over $92,000 a year, the lowest-paid employees earn less than . This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. Dennis W. Johnson, chair of MDU Resources board, said, The board regularly assesses MDU Resources business, operations and value creation opportunities. 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! Communities Served North Dakota South Dakota Montana Wyoming 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 data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Updates will be provided as the company moves toward completing the spinoff. 10-K. United States, North Dakota, Bismarck, Utilities, Oil & Energy, Information Technology & Services. The Natural Gas Distribution segment distributes natural gas and offers related value-added services. Following a thorough assessment, the board determined that a spinoff of Knife River Corporation is the best path forward to maximize value for all stakeholders. 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. ESI, Inc. is headquartered in Cincinnati, Ohio, with locations in Dayton, Cleveland and Columbus. None of the information on this page has been provided or approved by MDU Resources.

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