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MDU Resources company charter does not require a shareholder vote to complete the transaction. 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. In 1985, the corporation realigned its operations under the name MDU Resources Group, Inc. MDU Construction Services Group provides a full spectrum of construction solutions, from underground utilities and excavation to electrical, mechanical and fire suppression systems as well as transmission and distribution line construction. Western National Group. 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. Some of Rebecca Dorwart's colleagues are Mark Haag, Korey Fried, Eric Hope, Ben Morrison, Amanda Kadrmas, Ron Kutzler, Sheri Berogan, Christy Dirk-senn. 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. 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. MDU Resources headquarters is in Bismarck, ND. 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! In addition, all pages on Bizapedia will be 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. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Enter the location for your project and choose the product youd like. The companies have since partnered on two base-load power plants (Big Stone and Coyote). Our construction services bring power to communities and neighborhoods across the country. Support Product Field and Product Research & Development on Rule and Underwriting Guideline analysis and recommendations for both current features and offerings, and those that will be developed in the future. The company strongly encourages investors to review the consolidated financial statements in their entirety and to not rely on any single financial measure. 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. -Jenna Lyons. 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. 7% of MDU Resources employees are Hispanic or Latino. if we've collected "Sales Lead Information" for a given company, it will be displayed on the Post-separation, MDU Resources intends to maintain a dividend policy consistent with its historic practice. The national average salary for an employee at MDU Resources Group is $55,677 per year, or $26.77 an hour. if the company chooses to hide the private information on their profile from the general public. It does not store any personal data. What approvals are required? The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Necessary cookies are absolutely essential for the website to function properly. Analytical cookies are used to understand how visitors interact with the website. mdu resources group. The most common ethnicity at MDU Resources is White (82%). 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. MDU Resources is committed to establishing strong capital allocation strategies for each business that align with each businesss long-term goals. 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. Employee Directory. Phone: 800-638-3278. View original content to download multimedia. MDU Resources board believes Knife River is poised to benefit from significant investments at the federal and local levels in infrastructure development and upgrades. The company's filing status is listed as Active and its File Number is 1981716. COMMERCIAL RESOURCES TAX GROUP, INC. is a California Stock Corporation - Ca - General filed on April 1, 1997. 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. Why isnt there a shareholder vote? $20 Hourly. The distribution systems in these towns passed into MDU ownership by the early 1940s. 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. When is the spinoff expected to be completed? Communities Served North Dakota South Dakota Montana Wyoming You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Following the planned separation, MDU Resources will remain headquartered in Bismarck, North Dakota, and continue to be the parent company for MDU Resources existing regulated electric and natural gas utilities (Cascade Natural Gas Corp., Intermountain Gas Co., Montana-Dakota Utilities Co.), natural gas pipeline business (WBI Energy, Inc.) and construction services company (MDU Construction Services Group, Inc.). Customer Service: 7:30 A.M. - 6:30 P.M. | Monday through Friday. Forward-Looking Statements 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 generated $321 million of EBITDA in 2021. 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.". 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. 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. 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. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. These cookies do not store any personal information. We're dedicated to providing environmentally friendly and energy-efficient solutions that meet our clients technology and power requirements. Rebecca Dorwart's peers at other companies are Kris Vosgerau, Craig Walz, Ryan Kuchenski, Shirley Curt, Tom Herman, Curtis Cross, Damien Craig, Karl Jones. 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 expects the spinoff of Knife River will be complete in the second quarter of 2023. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The companys utilities provide affordable and reliable electric and natural gas service to 1.2 million customers across eight states. BISMARCK, N.D. Aug. 4, 2022 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. Both companies eventually realized the lawsuit was unproductive and they ceased litigation.[3]. MDU Resources Group, Inc. All rights reserved. When will Knife River shares be distributed? This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. 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. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. I am an MDU Resources shareholder. Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. Brea, CA. 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. We build complex, diverse projects for our customers and we're always looking for team members to contribute to our success. How will this impact MDU Resources current quarterly dividend? [6] The damages totaled $17.2 million. 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 Our electrical, mechanical and fire suppression services companies have deep experience in a wide variety of work across the country. After submitting your request, you will receive an activation email to the requested email address. None of the information on this page has been provided or approved by MDU Resources. While logged in and authenticated, you will not be asked to solve any complicated Recaptcha V2 challenges. These cookies ensure basic functionalities and security features of the website, anonymously. About MDU Resources Conference Call We expect this distribution to be tax free to MDU Resources and its shareholders for U.S. federal income tax purposes. 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. They ensure a project is completed on time and within budget. 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. 67% of the management team is White. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. 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. 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. Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. When MDU examined DPSC's books after the purchase, they spent the next six years in litigation with NWPS over allegations of improper internal charges between NWPS, NP&L, and NDP&L. Cascade Natural Gas Corporation Headquarters is located at 8113 West Grandridge Boulevard, Kennewick . For more information about MDU Resources, visitwww.mdu.comor contact the Investor Relations Department at[emailprotected]. But opting out of some of these cookies may affect your browsing experience. 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. 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. [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. Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. 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. Details of Separation Transaction 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. Supervised and managed all personnel, work activities and . [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.