Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Selecting the value will change the page content. Help other job seekers by rating MDU Resources. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 1025 1250 W. Century Ave. Bismarck, ND 58501 Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. Messages will be read and responded to as soon as. 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. Employee Directory. Bismarck, ND 58506. The company was founded in 1924 and is based in Bismarck, North Dakota. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. MDU Resources Reports Third Quarter Earnings; Knife River Has Record Quarterly Revenue. if we've collected "Sales Lead Information" for a given company, it will be displayed on the The separation is expected to be completed in 2023. 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. 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]. Jan 2004 - Mar 201511 years 3 months. Spinoff of Knife River expected to unlock significant shareholder value. by Terry Hildestad. These cookies track visitors across websites and collect information to provide customized ads. In just the past four years, it has completed 12 acquisitions and increased revenues 23%. Filing Jurisdiction, Entity Type, Registered Agent, File Number, Filing Status, and Business Category. Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. The company strongly encourages investors to review the consolidated financial statements in their entirety and to not rely on any single financial measure. MDU Resources Group, Inc. is a power company based in Bismarck, ND. Your entire office will be able to use your search subscription. Search Keywords. 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. 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. Customer Service: 7:30 A.M. - 6:30 P.M. | Monday through Friday. The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP. The cookie is used to store the user consent for the cookies in the category "Analytics". MDU Construction Services Group is comprised of 16 local operating companies employing more than 8,500 skilled workers during peak season and has been ranked the fourth largest U.S. electrical contractor. This will also involve communication with the various functional areas and assistance in the development of training programs. We have built Knife River into a leading construction materials business and believe now is the right time to spin it off to unlock additional value for both MDU Resources and Knife River. 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. This category only includes cookies that ensures basic functionalities and security features of the website. Our Board of Directors regularly reviews opportunities to unlock value for our shareholders. 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. 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. It also provides cathodic protection and other energy-related services. 5 on 2022 EC&M Top 50 Electrical Contractors List, Your specialty contracting services provider. These cookies do not store any personal information. We build complex, diverse projects for our customers and were always looking for team members to contribute to our success. Cascade is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". 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. While logged in and authenticated, you will not be asked to solve any complicated Recaptcha V2 challenges. Select Year: Filter filing type: Date Filing Type Filing Description Download / View. MDU Resources's mission statement is "With integrity, create superior shareholder value by expanding upon our expertise to be the supplier of choice in all of our markets while being a safe and great place to work.". 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: These cookies will be stored in your browser only with your consent. Our expertise includes refinery and plant construction and maintenance, as well as automotive, renewable energy and steel facility installations and maintenance. 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. The Construction Services segment designs, constructs, and maintains overhead and underground electrical distribution and transmission lines, substations, external lighting, traffic signalization, and gas pipelines; electrical and communication wiring and infrastructure, and fire suppression systems; and renewable energy projects. For more information about MDU Resources, visit the company's website at www.mdu.com. 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. 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. 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. While the highest-paid employees at MDU Resources Group can earn over $92,000 a year, the lowest-paid employees earn less than . In 2001, Knife River sold its remaining coal-mining interests. The average employee at MDU Resources makes $52,489 per year. MDU Resources Group corporate office is located in 1200 W Century Ave, Bismarck, North Dakota, 58503, United States and has 791 employees. 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. MDU Construction Services Group provides market-leading specialty contracting services across the U.S., primarily electrical and mechanical, and transmission and distribution services. MDU Resources also announced today its second quarter financial results, which can be found on the companys website atwww.mdu.com. Analytical cookies are used to understand how visitors interact with the website. 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. Amazing things happen when you're having fun and doing something you love. In addition, Fax: 701-323-3104. Knife River Corporation is now among the largest sand and gravel producing companies in the U.S. 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. The national average salary for an employee at MDU Resources Group is $55,677 per year, or $26.77 an hour. Guests; Log in; Career Center. MDU Resources is ranked #7 on the Best Companies to Work For in North Dakota list. None of the information on this page has been provided or approved by MDU Resources. Click the link in the email we sent to to verify your email address and activate your job alert. We also use third-party cookies that help us analyze and understand how you use this website. MDU Construction Services Group Corporate Employee (Current Employee) - Bismarck, ND - January 17, 2014. 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. This website uses cookies to improve your experience while you navigate through the website. Knife River has a successful track record of growth. 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. Employees at the parent company, MDU Resources, earn $52,489 whereas employees at Young Brothers Inc Contractors earn $51,612, on average. 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 It is mandatory to procure user consent prior to running these cookies on your website. Our customers are as varied as our experience. But opting out of some of these cookies may have an effect on your browsing experience. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. It also offers utility excavation, and mechanical piping and services; and manufactures and distributes transmission line construction equipment and other supplies. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. By continuing to use this application, you consent to the use of cookies in accordance with our, Behnken named to national Innovation Institute, General foreman puts stop the bleed training into practice, saves mans life, MDU Resources Reports Third Quarter Earnings; Board Authorizes Strategic Review for MDU Construction Services Group, MDU Construction Services Group ranks No. Brea, CA. [9], Cascade Natural Gas Corporation, serving parts of Oregon and Washington, was acquired by MDU Resources in 2006. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. Help us make this company more transparent. 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. MDU Construction Services Group employs more than 7,500 skilled employees across the country. It performs integrated contracting services. None of the information on this page has been provided or approved by MDU Resources. from 8 AM - 9 PM ET. Payment Locations - Montana-Dakota Utilities Company Payment Locations Montana-Dakota Home Customer Service Payment Options Payment Locations View all Locations in a list by clicking Directions to a Payment Location can be acquired by clicking the location, then clicking - Western Union Convenience Pay locations - Drop box locations For more information about MDU Resources, visit the company's website at www.mdu.com. 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. 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). Necessary cookies are absolutely essential for the website to function properly. Enhances MDU Resources strategic focus on regulated utilities, natural gas pipelines and related infrastructure services. 4% of MDU Resources employees are Black or African American. 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. Although MDU Resources believes that its expectations are based on reasonable assumptions, current expectations involve a number of risks and uncertainties. 1150 W. Century Ave. Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. 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. 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. [6] The damages totaled $17.2 million. J.P. Morgan Securities LLC and PJT Partners are serving as financial advisors for the transaction; Wachtell, Lipton, Rosen & Katz is serving as legal advisor. MDU Resources Group, Inc. All rights reserved. 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. These cookies will be stored in your browser only with your consent. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. 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. On Nov. 3, MDU Resources announced it was undertaking a strategic review of its construction services business, MDU Construction Services Group, Inc. Some of Rebecca Dorwart's colleagues are Mark Haag, Korey Fried, Eric Hope, Ben Morrison, Amanda Kadrmas, Ron Kutzler, Sheri Berogan, Christy Dirk-senn. 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 provide industry leading services with a focus on safety. 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. 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? 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. 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. Our most recent assessment determined that a separation of Knife River could unlock significant value. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US.See if MDU Resources is hiring near you. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". This website uses cookies to improve your experience while you navigate through the website. Founded in 1966, ESI, Inc. is part of the MDU Resources family of companies. Unlike its neighboring utilities, MDU was generally not in the business of reselling energy at wholesale to other companies, with the exception of five Eastern Montana towns then served by the Mountain States Power Company. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The company is 37.8% female and 18.4% ethnic minorities. 18 Deep, 3Wide, 7Tall 4.5% Sales Tax will be applied For additional information, contact Jack VandeKop @ (605) 340-5256 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. At MDU Resources, we promise to treat your data with respect and will not share your information with any third party. 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. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US. 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. About Knife River Cenergy International Services Employment, Basin Electric Power Cooperative Employment, CrossCountry Freight Solutions Employment, Heavy Equipment Operator MDU Resources Jobs, Apprentice Electrician MDU Resources Jobs. 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 It generated $321 million of EBITDA in 2021. 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. Details of Separation Transaction 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. Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. [8] Two additional lawsuits were filed against Loy Clark in December 2019. Research Summary. When typing in this field, a list of search results will appear and be automatically updated as you type. with up to 5 times the number of maximum matches per search vs. non-subscribers. MDU Resources employees are most likely to be members of the republican party. mdu resources inc. A strong infrastructure is the heart of our country's economy. Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. Knife River is always looking for good people to join our team. 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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Our Customer Service Center can assist you with many account related requests, including checking balances, making payments, starting or stopping service, and much more. Western National Group. Some of the competitors of MDU Resources are Portland General Electric, The Williams Companies, and Peabody Energy. 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.. Non-GAAP Financial Measures Primary Address. No assurance can be given regarding the form that a spinoff transaction may take or the specific terms or timing thereof, or that a spinoff will in fact occur. How long have you been considering this? The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. We build complex, diverse projects for our customers and we're always looking for team members to contribute to our success. 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 All forward-looking statements in this news release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. The cookies is used to store the user consent for the cookies in the category "Necessary". Necessary cookies are absolutely essential for the website to function properly. MDU Resources board believes Knife River is poised to benefit from significant investments at the federal and local levels in infrastructure development and upgrades. It served approximately 938,867 residential, commercial, and industrial customers in 335 communities and adjacent rural areas. 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. 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! MDU Resources is committed to establishing strong capital allocation strategies for each business that align with each businesss long-term goals. MDU Resources had announced on Aug. 4 its intent to separate Knife River as an independent, publicly traded company. By the 1960s it was decided that the company's headquarters should be located within its service territory, in Bismarck, the largest town on the system, and the relocation was completed in 1968. The data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. MDU Resources Group, Inc. Marketing Contacts Contacts (5/13) Name Title State . It generated $78 million of EBITDA in 2021. 1200 West Century Avenue. Our services include natural gas and pipelineplacement, directional drilling, cable and duct plowing, hydroexcavation, and conduit and vault installation. Necessary cookies are absolutely essential for the website to function properly. 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. Creates financial and strategic flexibility for each company to focus on core business opportunities. MDU Resources Group is traded on the New York Stock Exchange as "MDU." For more information about MDU Resources, visit the company's website at www.mdu.com. 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. Main Telephone (866) 760-4852. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. The MDU Resources board believes Knife River is ready to continue its success as a stand-alone public company and take full advantage of anticipated work resulting from federal infrastructure funding. 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. 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. Dennis W. Johnson, chair of MDU Resources board, said, The board regularly assesses MDU Resources business, operations and value creation opportunities. Montana-Dakota Utilities Headquarters is located at 400 N. Fourth Street, Bismarck, ND 58501-4092. Overall MDU Resources is a great place to work with competitive salaries, leave time and other benefits. When will Knife River shares be distributed? Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. This category only includes cookies that ensures basic functionalities and security features of the website.

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