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. See if MDU Resources is hiring near you. 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 separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. 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. Your entire office will be able to use your search subscription. 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. 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. MDU Construction Services Group provides market-leading specialty contracting services across the U.S., primarily electrical and mechanical, and transmission and distribution services. The separation is expected to be completed in 2023. $4,900 to the Republican Party. 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. It also provides cathodic protection and other energy-related services. By continuing to use this application, you consent to the use of cookies in accordance with our. 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. For more information about MDU Resources, visit the company's website at www.mdu.com. Compelling Benefits of the Separation Rebecca works for Mdu Resources Group Inc. Rebecca Dorwart has been with Mdu Resources Group Inc. for 6 months and is in Lower Management, Rebecca's role is Manager: Project Manager, Human Resources Special Projects Manager. Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. Help other job seekers by rating MDU Resources. The company anticipates completing the strategic review in the first half of 2023. The company's filing status is listed as Active and its File Number is 1981716. By providing your email address below, you are providing consent to MDU Resources to send you the requested Investor Email Alert updates. Sign in to create your job alert for Senior Process Analyst jobs in Brea, CA. Our services include natural gas and pipelineplacement, directional drilling, cable and duct plowing, hydroexcavation, and conduit and vault installation. Some of the competitors of MDU Resources are Portland General Electric, The Williams Companies, and Peabody Energy. We expect this distribution to be tax free to MDU Resources and its shareholders for U.S. federal income tax purposes. Primary Address. The cookie is used to store the user consent for the cookies in the category "Other. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. In 1992, it acquired its first aggregates-mining company in central California, and has continued to expand its construction materials business . Why isnt there a shareholder vote? 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 $78 million of EBITDA in 2021. 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. Our most recent assessment determined that a separation of Knife River could unlock significant value. 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. 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. 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. The most common ethnicity at MDU Resources is White (82%). This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. The data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. It also distributes cement and asphalt oil. $20 Hourly. 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. 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. MDU Resources has 10,140 employees, of which 24 are in a leadership position. Filing Jurisdiction, Entity Type, Registered Agent, File Number, Filing Status, and Business Category. 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. It is mandatory to procure user consent prior to running these cookies on your website. But opting out of some of these cookies may affect your browsing experience. This website uses cookies to improve your experience while you navigate through the website. The two 'Eastern Montana' utilities became the nucleus of Montana-Dakota Utilities' operations. With approximately 98% of WBI Energys EBITDA coming from regulated business, it is focused on growing this business through pipeline expansion projects. 1200 West Century Avenue. 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. Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. Register for your account and get started with our industry leading people contacts search engine. Select Year: Filter filing type: Date Filing Type Filing Description Download / View. Advisors View original content to download multimedia. Distinct investment opportunities: Investors will have two compelling investment opportunities and will be able to better assess the value of the two companies based on their respective operational and financial characteristics. They ensure a project is completed on time and within budget. The event can be accessed atwww.mdu.com. "Our strategic review of our construction services business also is well underway. These cookies ensure basic functionalities and security features of the website, anonymously. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. After the end of the lawsuit, MDU refocused on the growing demand for electricity and gas within its newly expanded territory and the necessary system improvements. Founded in 1966, ESI, Inc. is part of the MDU Resources family of companies. MDU Resources Group, Inc. | Bismarck ND Employee Directory. if we've collected "Sales Lead Information" for a given company, it will be displayed on the Copyright 2022 MDU Resources Group, Inc.. All rights reserved. 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. Intermountain is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". with up to 5 times the number of maximum matches per search vs. non-subscribers. 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. 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. 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. Knife River has a successful track record of growth. MDU Construction Services Group, Inc. is an industry-leading specialty contractor, We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. The average employee at MDU Resources makes $52,489 per year. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. Spinoff of Knife River expected to unlock significant shareholder value. Early history[ edit] Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. 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. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. We build complex, diverse projects for our customers and we're always looking for team members to contribute to our success. 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. The national average salary for an employee at MDU Resources Group is $55,677 per year, or $26.77 an hour. Our construction services bring power to communities and neighborhoods across the country. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding MDU Resources and the proposed spinoff of Knife River that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1993, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Necessary cookies are absolutely essential for the website to function properly. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. [6] The damages totaled $17.2 million. You also have the option to opt-out of these cookies. 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. 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. None of the information on this page has been provided or approved by MDU Resources. The staff at MDU Resources come from unusually diverse demographic backgrounds. For more information about MDU Resources, visitwww.mdu.comor contact the Investor Relations Department at[emailprotected]. 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. 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. At MDU Resources, we promise to treat your data with respect and will not share your information with any third party. 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. This cookie is set by GDPR Cookie Consent plugin. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 The companies have since partnered on two base-load power plants (Big Stone and Coyote). 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. None of the information on this page has been provided or approved by MDU Resources. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. Bismarck, ND 58506. If you are in need of enterprise level search, please consider signing up for a Bizapedia Pro Search account as described on this page. It also distributes cement and asphalt oil. Montana-Dakota Utilities Headquarters is located at 400 N. Fourth Street, Bismarck, ND 58501-4092. Full-Time. By continuing to use this application, you consent to the use of cookies in accordance with our. MDU Resources has great employee retention with staff members usually staying with the company for 5.3 years. 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. MDU Resources is in the electric power natural gas construction industry. 4. 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. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. Looking for Montana-Dakota Utilities? 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. ESI, Inc. is headquartered in Cincinnati, Ohio, with locations in Dayton, Cleveland and Columbus. Except as required by law, the company does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise. We provide industry leading services with a focus on safety. Click Here. This will also involve communication with the various functional areas and assistance in the development of training programs. 400 N. Fourth St. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. 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 Construction Services Group employs more than 7,500 skilled employees across the country. You must click the activation link in order to complete your subscription. But opting out of some of these cookies may have an effect on your browsing experience. 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. Both companies eventually realized the lawsuit was unproductive and they ceased litigation.[3]. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US.See if MDU Resources is hiring near you. After extensive research and analysis, Zippia's data science team found that: 38% of MDU Resources employees are women, while 62% are men. MDU Resources employees are most likely to be members of the Republican Party. 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. 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. Since MDU Resources first aggregate company acquisition in 1992, weve built Knife River into a leading aggregates-based construction materials business. Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. After submitting your request, you will receive an activation email to the requested email address. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. The following table provides a reconciliation of consolidated GAAP net income to EBITDA for 2021. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. [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. 12 on list of top 600 specialty contractors. The company's common stock began trading on the New York Stock Exchange under the ticker symbol MDU in 1948. It is headquartered in Bismarck, North Dakota, and operates in 48 states. 1150 W. Century Ave. It generated $169 million of EBITDA in 2021. MDU Resources company charter does not require a shareholder vote to complete the transaction. About Knife River Knife River: Leading Vertically Integrated Aggregates Producer and Provider of Construction Materials and Contracting Services Focused on Organic and M&A Growth This cookie is set by GDPR Cookie Consent plugin. MDU Resources generates $5.7B in revenue. Non-GAAP Financial Measures The company was founded in 1924 and is based in Bismarck, North Dakota. The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to closing, as will the specific transaction structure. 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. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. 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. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Tailored capital allocation strategies: Each company will have enhanced flexibility to deploy capital to its specific growth opportunities. Media Contact:Laura Lueder, MDU Resources manager of communications and public relations, 701-530-1095 The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The separation will result in two independent, publicly traded and well . Guests; Log in; Career Center. Fax: 701-323-3104. Financial Contact:Jason Vollmer, MDU Resources vice president and chief financial officer, 701-530-1755. In just the past four years, it has completed 12 acquisitions and increased revenues 23%. Here are further demographic highlights of the leadership team: The MDU Resources executive team is 29% female and 71% male. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. Project Manager at Mdu Resources Group Inc. Project Managers are responsible for planning, implementing, and managing projects. How long have you been considering this? Careers Featured projects Our customers are as varied as our experience. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 7% of MDU Resources employees are Hispanic or Latino. Statement of Changes in Beneficial Ownership. MDU Resources expects there will be no changes to its historic dividend practices through the completion of the spinoff. MDU Resources got its start in 1924 as the Minnesota Northern Power Company. 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.. DPSC served a total of 91 towns in west-central North Dakota originally served by the Hughes Electric Company/North Dakota Power & Light Company (NDP&L) and south-central North Dakota/north-central South Dakota originally served by the Northern Power & Light Company (NP&L). 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. Customer Service: 7:30 A.M. - 6:30 P.M. | Monday through Friday. Necessary cookies are absolutely essential for the website to function properly. MDU Construction Services Group has resources across the country to get any job done. 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. 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.