MDU Resources Group engages in the regulated energy delivery, construction materials and services businesses. No. 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. The proposed separation is subject to customary conditions, including final approval by the MDU Resources board of directors, receipt of a tax opinion and, if determined advisable, a private letter ruling from the Internal Revenue Service, and the filing and effectiveness of a Form 10 registration statement with the U.S. Securities and Exchange Commission. COMMERCIAL RESOURCES TAX GROUP, INC. is a California Stock Corporation - Ca - General filed on April 1, 1997. 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. The national average salary for an employee at MDU Resources Group is $55,677 per year, or $26.77 an hour. USA. These factors include, but are not limited to, risks relating to the impact of the COVID-19 pandemic on the business (including impacts on employees and contractors and disruptions to operations and the supply chain); new or changing laws and regulations impacting the business (including changes in pipeline safety regulations and environmental law); supply chain disruptions (including price fluctuations and supply of materials necessary for operations); the adverse impact of cyberattacks on operations; competitive factors including technological advances and customer demands; pricing and market pressures; ability to successfully integrate any businesses acquired; issuance of new or revised accounting standards; risks associated with the impact, timing or terms of the spinoff; risks associated with the expected benefits and costs of the spinoff, including the risk that the expected benefits of the spinoff will not be realized within the expected timeframe, in full or at all, and the risk that conditions to the spinoff will not be satisfied and/or that the spinoff will not be completed within the expected timeframe, on the expected terms or at all; the expected qualification of the spinoff as a tax-free transaction for U.S. federal income tax purposes, including whether or not an IRS ruling will be sought or obtained; the risk that any consents or approvals required in connection with the spinoff will not be received or obtained within the expected timeframe, on the expected terms or at all; risks associated with expected financing transactions undertaken in connection with the spinoff and risks associated with indebtedness incurred in connection with the spinoff; the risk that dis-synergy costs, costs of restructuring transactions and other costs incurred in connection with the spinoff will exceed estimates; and the impact of the spinoff on the businesses and the risk that the spinoff may be more difficult, time consuming or costly than expected, including the impact on resources, systems, procedures and controls, diversion of managements attention and the impact on relationships with customers, suppliers, employees and other business counterparties, as well as the various important factors listed in Part I, Item 1A Risk Factors in MDU Resources Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2021, which was filed with the SEC on Feb. 23, 2022, and subsequent filings with the SEC. All forward-looking statements in this news release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. MDU Resources is committed to establishing strong capital allocation strategies for each business that align with each businesss long-term goals. Cascade Natural Gas Corporation Headquarters is located at 8113 West Grandridge Boulevard, Kennewick . 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. MDU Resources employees are most likely to be members of the Republican Party. The separation is expected to be completed in 2023. Address: 1200 W Century Ave Bismarck, ND, 58503-0911 United States See other locations Phone: Website: www.mdu.com Employees (this site): Actual Employees (all sites): Actual Revenue: $5.68 billion Actual Sales Growth: 2.67% Net Income Growth: -3.09% Assets: $8,910 Fiscal Year End: DEC Year Started: Stock Exchange: NYSE:MDU ESG ranking: We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. MDU Construction Services Group 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. Early history[ edit] Copyright 2022 MDU Resources Group, Inc.. All rights reserved. What is the strategic rationale for spinning off Knife River? The Registered Agent on file for this company is Linda Beery and is located at 3020 Saturn Street Suite 101, Brea, CA 92821. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. By continuing to use this application, you consent to the use of cookies in accordance with our. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. 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! Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. 12 on list of top 600 specialty contractors. 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. 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? Updates will be provided as the company moves toward completing the spinoff. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Project Manager at Mdu Resources Group Inc. Project Managers are responsible for planning, implementing, and managing projects. 7% of MDU Resources employees are Hispanic or Latino. Messages will be read and responded to as soon as. [10][11] Intermountain Gas Company, serving parts of Idaho, was acquired by MDU Resources in 2008. Rebecca Dorwart has 6 months experience as Human Resources Special Projects Manager. For more information, visitwww.kniferiver.com. Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. We build complex, diverse projects for our customers and we're always looking for team members to contribute to our success. The Natural Gas Distribution segment distributes natural gas in Montana, North Dakota, South Dakota, and Wyoming, as well as Idaho, Minnesota, Oregon, and Washington; and offers related value-added services. This category only includes cookies that ensures basic functionalities and security features of the website. The Natural Gas Distribution segment distributes natural gas and offers related value-added services. Visit the Career Advice Hub to see tips on interviewing and resume writing. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. Knife River Corporation is now among the largest sand and gravel producing companies in the U.S. We also use third-party cookies that help us analyze and understand how you use this website. MDU Resources Group, Inc. engages in regulated energy delivery, and construction materials and services businesses in the United States. The cookies is used to store the user consent for the cookies in the category "Necessary". You can unsubscribe from these emails at any time. MDU Resources has retained J.P. Morgan Securities LLC and PJT Partners as financial advisors and Wachtell, Lipton, Rosen & Katz as legal advisor for the review. Below youll find a list of the types of career opportunities you can find at Knife River. These cookies do not store any personal information. How long have you been considering this? The company's principal address . Will shareholders of both companies receive a regular dividend post-spinoff? Cascade is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". Changes in such assumptions and factors could cause actual future results to differ materially. By continuing to use this application, you consent to the use of cookies in accordance with our. This cookie is set by GDPR Cookie Consent plugin. Foshay interests this property today comprises Otter Tail Power's Bemidji division), the Eastern Montana Light & Power Company, centered around Sidney and Glendive, Montana, and the Eastern Montana Utilities Co., which was based in Fairview, Montana. We work underground and overhead in the transmission and distribution industry. [7] Additionally, OSHA cited and fined Loy Clark for safety violations as a result of this incident. 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. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. The two 'Eastern Montana' utilities became the nucleus of Montana-Dakota Utilities' operations. [9], Cascade Natural Gas Corporation, serving parts of Oregon and Washington, was acquired by MDU Resources in 2006. mdu resources group. Knife River has a successful track record of growth. The company was founded in 1924 and is based in Bismarck, North Dakota. These cookies will be stored in your browser only with your consent. Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. These efforts demonstrate our progress and commitment to move toward our goal of creating two pure-play public companies, with one focused on regulated energy delivery and the other on construction materials.". With approximately 98% of WBI Energys EBITDA coming from regulated business, it is focused on growing this business through pipeline expansion projects. [12] Knife River Corporation provides construction materials and contracting services, including aggregate, asphalt, building materials, cement, construction services, liquid asphalt, and ready-mix concrete in 17 states. 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). 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 company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. 79 were here. Overall MDU Resources is a great place to work with competitive salaries, leave time and other benefits. 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. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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. What will happen to my outstanding stock? Location United States, North Dakota, Bismarck Last Update 2021-06-04 Remove my profile . These cookies ensure basic functionalities and security features of the website, anonymously. MDU Resources is in the electric power natural gas construction industry. 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. Bismarck, ND 58506. 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. Montana-Dakota Utilities Headquarters is located at 400 N. Fourth Street, Bismarck, ND 58501-4092. 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. 4. The following table provides a reconciliation of consolidated GAAP net income to EBITDA for 2021. We also use third-party cookies that help us analyze and understand how you use this website. Necessary cookies are absolutely essential for the website to function properly. Advisors MDU Construction Services Group employs more than 7,500 skilled employees across the country. Knife River Corporation mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, asphalt and other value-added products. Our Board of Directors regularly reviews opportunities to unlock value for our shareholders. 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. ESI, Inc. is headquartered in Cincinnati, Ohio, with locations in Dayton, Cleveland and Columbus. Enter the location for your project and choose the product youd like. Intermountain Natural Gas Headquarters is located at 555 S. Cole Road, Boise, ID 83709. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. Today, from our headquarters in Bismarck, North Dakota, we have more than 16,000 employees during peak construction season operating across the country, delivering energy and providing construction materials and services. Select Year: Filter filing type: Date Filing Type Filing Description Download / View. Our most recent assessment determined that a separation of Knife River could unlock significant value. 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. As it expanded across Eastern Montana and western North Dakota, it acquired the electric franchise for Miles City, Montana, after an acquisition struggle with the Montana Power Company.[3]. Our expertise includes refinery and plant construction and maintenance, as well as automotive, renewable energy and steel facility installations and maintenance. 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 MDU Resources Group,Inc., founded in 1924, utilizes natural gas and coal mines. Terry Hildestad donated 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. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. You can save your resume and apply to jobs in minutes on LinkedIn, Head of Sales - Clinical Screening Software Solutions & Partnerships, Ban Mu Thi 10 Moo 10, Pathum Thani, Thailand, Audio QA Checker (Suouth Levantine Arabic Speakers) in Palestine, Voice of Customer and Offering Excellence Lead , CrossLab Services Center of Excellence, Manager, Transition Management Onboarding, See who Mercury Insurance has hired for this role, Assist in process documentation/workflows and apply knowledge to analyze business and system procedures/workflow/data and recommend how they can be improved or automated, Assist in debugging production issues and performing User Acceptance Testing for Product/Rate Level changes across different platforms, Assist with implementation, training, and monitoring of product rollout, Work with cross-functional teams as the representative of the Product group. 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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US. We're dedicated to providing environmentally friendly and energy-efficient solutions that meet our clients technology and power requirements. Our customers are as varied as our experience. 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. 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. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. About MDU Resources The national average salary for an MDU Resources employee in the United States is $52,489 per year. Although MDU Resources believes that its expectations are based on reasonable assumptions, current expectations involve a number of risks and uncertainties. MDU Construction Services Group has resources across the country to get any job done. The cookie is used to store the user consent for the cookies in the category "Analytics". It also provides cathodic protection and other energy-related services. MDU Resources and Knife Rivers proven management teams will be able to more directly focus resources and capital to achieve their respective strategic goals, Goodin said. However with being a great place to work comes longevity. Dennis W. Johnson, chair of MDU Resources board, said, The board regularly assesses MDU Resources business, operations and value creation opportunities. This cookie is set by GDPR Cookie Consent plugin. These cookies track visitors across websites and collect information to provide customized ads. 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. What approvals are required? 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***. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. Analytical cookies are used to understand how visitors interact with the website. 1025 1250 W. Century Ave. Bismarck, ND 58501 if the company chooses to hide the private information on their profile from the general public. Necessary cookies are absolutely essential for the website to function properly. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Based on our data team's research, David L. Goodin is the MDU Resources's CEO. 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. mdu resources inc. Despite its diversity in other areas, MDU Resources employees are noticeably lacking in political diversity. About Knife River Post-separation, MDU Resources intends to maintain a dividend policy consistent with its historic practice. 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.. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Best Companies to Work For in North Dakota, Best Energy Companies to Work For in North Dakota, Best Companies to Work For in Bismarck, ND, Best Energy Companies to Work For in Bismarck, ND, Working At DTE (Detroit Tool & Engineering), Working At Centennial Energy Resources LLC, MDU Resources Heavy Equipment Operator Jobs, MDU Resources Apprentice Electrician Jobs. 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. Project Managers are responsible for planning, implementing, and managing projects. If you experience any issues with this process, please contact us for further assistance. Communities Served North Dakota South Dakota Montana Wyoming MDU Resources Group, Inc. | Bismarck ND Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. Spinoff of Knife River expected to unlock significant shareholder value. While logged in and authenticated, you will not be asked to solve any complicated Recaptcha V2 challenges. MDU Resources company charter does not require a shareholder vote to complete the transaction. MDU Construction Services Group provides market-leading specialty contracting services across the U.S., primarily electrical and mechanical, and transmission and distribution services. None of the information on this page has been provided or approved by MDU Resources. In the late 1960s, MDU partnered with NWPS and Otter Tail Power in the construction of the Big Stone power plant near Big Stone City, South Dakota. 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. Our services include natural gas and pipelineplacement, directional drilling, cable and duct plowing, hydroexcavation, and conduit and vault installation. 02/24/2023. Employees in the top 10 percent can make over $86,000 per year, while employees at the bottom 10 percent earn less than $31,000 per year. Utilize our advanced search form to filter the search results by Company Name, City, State, Postal Code, 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. The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP.