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The distribution systems in these towns passed into MDU ownership by the early 1940s. MDU Resources board believes Knife River is poised to benefit from significant investments at the federal and local levels in infrastructure development and upgrades. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. 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. Sign in to create your job alert for Senior Process Analyst jobs in Brea, CA. This site is protected by reCAPTCHA and the Google. MDU Resources generates $5.7B in revenue. 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. MDU Resources is an industry leader with 10,140 employees and an annual revenue of $5.7B that is headquartered in North Dakota. 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. 1150 W. Century Ave. We also use third-party cookies that help us analyze and understand how you use this website. 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. Here are further demographic highlights of the leadership team: The MDU Resources executive team is 29% female and 71% male. 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. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. These cookies do not store any personal information. [6] The damages totaled $17.2 million. We also use third-party cookies that help us analyze and understand how you use this website. 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 Reports Third Quarter Earnings; Knife River Has Record Quarterly Revenue. MDU Resources had announced on Aug. 4 its intent to separate Knife River as an independent, publicly traded company. MDU Resources employees are most likely to be members of the Republican Party. 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. It also offers utility excavation, and mechanical piping and services; and manufactures and distributes transmission line construction equipment and other supplies. mdu resources group inc. mdu resources group. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to closing, as will the specific transaction structure. Despite its diversity in other areas, MDU Resources employees are noticeably lacking in political diversity. By providing your email address below, you are providing consent to MDU Resources to send you the requested Investor Email Alert updates. By continuing to use this application, you consent to the use of cookies in accordance with our. This category only includes cookies that ensures basic functionalities and security features of the website. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 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). 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. Jan 2004 - Mar 201511 years 3 months. MDU Construction Services Group has resources across the country to get any job done. 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. 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. 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]. 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 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. MDU Resources Group, Inc. ( NYSE: MDU) Q4 2022 Earnings Conference Call February 9, 2023 2:00 PM ET Company Participants Jason Vollmer - VP & CFO David Barney - President & CEO, Knife River. Our construction services bring power to communities and neighborhoods across the country. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. In just the past four years, it has completed 12 acquisitions and increased revenues 23%. The employee data is based on information from people who have self-reported their past or current employments at MDU Resources. The cookie is used to store the user consent for the cookies in the category "Performance". Changes in such assumptions and factors could cause actual future results to differ materially. We build complex, diverse projects for our customers and were always looking for team members to contribute to our success. When is the spinoff expected to be completed? The separation is expected to be completed in 2023. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. 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. By continuing to use this application, you consent to the use of cookies in accordance with our. 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 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. These cookies ensure basic functionalities and security features of the website, anonymously. 02/21/2023. Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. $4,900 to the Republican Party. Creates financial and strategic flexibility for each company to focus on core business opportunities. 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. Our Customer Service Center can assist you with many account related requests, including checking balances, making payments, starting or stopping service, and much more. 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! 4. The most common ethnicity at MDU Resources is White (82%). 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.". Financial Contact:Jason Vollmer, MDU Resources vice president and chief financial officer, 701-530-1755. Research Summary. We provide industry leading services with a focus on safety. Guests; Log in; Career Center. Cenergy International Services Employment, Basin Electric Power Cooperative Employment, CrossCountry Freight Solutions Employment, Heavy Equipment Operator MDU Resources Jobs, Apprentice Electrician MDU Resources Jobs. 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. Selecting the value will change the page content. Help us make this company more transparent. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US.See if MDU Resources is hiring near you. 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. 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. -Jenna Lyons. MDU Resources employees are most likely to be members of the republican party. However with being a great place to work comes longevity. 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 Corporation mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, asphalt and other value-added products. This cookie is set by GDPR Cookie Consent plugin. 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. Bismarck, ND 58506. Non-GAAP Financial Measures Claiming and updating your company profile on Zippia is free and easy. While the highest-paid employees at MDU Resources Group can earn over $92,000 a year, the lowest-paid employees earn less than . We will diligently work through the separation process to ensure each company is optimized to deliver value for shareholders.. 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.
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