Shortly after passage of the Public Utility Holding Company Act of 1935 (PUHCA), Heskett reorganized all the gas and electric subsidiaries of Minnesota Northern Power under a new name Montana-Dakota Utilities. It does not store any personal data. What is the strategic rationale for spinning off Knife River? Our construction services bring power to communities and neighborhoods across the country. 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. 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. For more information about MDU Resources, visit the company's website at www.mdu.com. 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 This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. MDU Resources expects there will be no changes to its historic dividend practices through the completion of the spinoff. 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. Guests; Log in; Career Center. [9], Cascade Natural Gas Corporation, serving parts of Oregon and Washington, was acquired by MDU Resources in 2006. We will diligently work through the separation process to ensure each company is optimized to deliver value for shareholders.. MDU Construction Services Group employs more than 7,500 skilled employees across the country. from 8 AM - 9 PM ET. It generated $169 million of EBITDA in 2021. mdu resources group inc. mdu resources group. 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. They ensure a project is completed on time and within budget. 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% of MDU Resources employees are Black or African American. By continuing to use this application, you consent to the use of cookies in accordance with our. On average, employees at MDU Resources stay with the company for 5.3 years. 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***. MDU Resources Group engages in the regulated energy delivery, construction materials and services businesses. Help us make this company more transparent. None of the information on this page has been provided or approved by MDU Resources. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. 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. Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. MDU Resources employees are most likely to be members of the republican party. [8] Two additional lawsuits were filed against Loy Clark in December 2019. MDU Resources Group Corporate Headquarters, Office Locations and Addresses | Craft.co The company is 37.8% female and 18.4% ethnic minorities. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 The board and our management team are confident that MDU Resources and Knife River will be best positioned as two focused, independent companies. 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. The company's principal address . Below youll find a list of the types of career opportunities you can find at Knife River. MDU Resources Group, Inc., a member of the S&P MidCap 400 and the S&P High-Yield Dividend Aristocrats indices, is Building a Strong America by providing essential products and services through its regulated energy delivery and construction materials and services businesses. MDU Resources Reports Third Quarter Earnings; Knife River Has Record Quarterly Revenue. This category only includes cookies that ensures basic functionalities and security features of the website. Spinoff of Knife River expected to unlock significant shareholder value. 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. 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. Project Managers are responsible for planning, implementing, and managing projects. None of the information on this page has been provided or approved by MDU Resources. 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. Intermountain is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". 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. When typing in this field, a list of search results will appear and be automatically updated as you type. Referrals increase your chances of interviewing at Mercury Insurance by 2x. These cookies do not store any personal 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. These cookies track visitors across websites and collect information to provide customized ads. 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. MDU Resources is an industry leader with 10,140 employees and an annual revenue of $5.7B that is headquartered in North Dakota. The USC Career Center is open - in person and online - as always, all of our services and resources are available to you, including advising, job and internship opportunities, programs, workshops, career fairs, and more. Main Telephone (866) 760-4852. Search Keywords. 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: 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. Statement of Changes in Beneficial Ownership. MDU Construction Services Group 10-K. Forward-Looking Statements Western National Group. MDU Resources to discuss separation and second quarter 2022 financial results at 8:30 a.m. EDT today. We expect Knife River shares to be distributed immediately upon the completion of the spinoff transaction, which we expect to occur during 2023. Enhances MDU Resources strategic focus on regulated utilities, natural gas pipelines and related infrastructure services. The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP. 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. The company strongly encourages investors to review the consolidated financial statements in their entirety and to not rely on any single financial measure. ESI, Inc. honored with industry Safety Achievement Award for outstanding injury and illness statistics 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.". Utilize our advanced search form to filter the search results by Company Name, City, State, Postal Code, 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. Location United States, North Dakota, Bismarck Last Update 2021-06-04 Remove my profile . Bachelors Degree in Business or Information Systems or Certification in Business Process Management, Or equivalent combination of education and/or experience, 5+ years in business process analysis or related experience, 3+ years in P&C insurance industry is preferred, Or equivalent combination of education, training, and/or experience, Excellent communication and analytical skills, particularly in providing status updates and providing information to key stakeholders on a regular basis, Work requires the ability to work independently and with minimum supervision, In-depth knowledge in Structured Query Language/Unified Modeling Language or equivalent languages, Knowledge in project management, change management, and organizational savvy, In-depth knowledge in product design, business and IT processes that support effective execution, Ability to effectively communicate business goals, strategies, and/or business problems to provide sound counsel and offer creative solutions, Strong analytical skills, ability to influence without authority, ability to build strong rapport and work collaboratively with others outside of the immediate business function, Ability to negotiate, influence, and compromise, Ability to concurrently manage multiple tasks/projects, with a strong track record of defining and meeting milestones and deadlines, Flexibility to work from anywhere in the United States for most positions, Paid time off (vacation time, sick time, 9 paid Company holidays, volunteer hours), Incentive bonus programs (potential for holiday bonus, referral bonus, and performance-based bonus), Medical, dental, vision, life, and pet insurance, 401 (k) retirement savings plan with company match, Professional and personal development opportunities, Health and wellbeing resources, including free mental wellbeing therapy/coaching sessions, child and eldercare resources, and more. With approximately 98% of WBI Energys EBITDA coming from regulated business, it is focused on growing this business through pipeline expansion projects. 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. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. company profile page along with the rest of the general data. Analytical cookies are used to understand how visitors interact with the website. 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 has a successful track record of growth. The cookie is used to store the user consent for the cookies in the category "Other. Although MDU Resources believes that its expectations are based on reasonable assumptions, current expectations involve a number of risks and uncertainties. Conference Call Post-spinoff, MDU Resources intends to maintain a policy consistent with its historic practices. 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. In addition, all pages on Bizapedia will be 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. Primary Address. 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. It also distributes cement and asphalt oil. 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. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. You also have the option to opt-out of these cookies. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. [7] Additionally, OSHA cited and fined Loy Clark for safety violations as a result of this incident. You can sign up for additional alert options at any time. if the company chooses to hide the private information on their profile from the general public. Annual Report. 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. Non-GAAP Financial Measures mdu resources group. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. If you experience any issues with this process, please contact us for further assistance. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. These cookies will be stored in your browser only with your consent.
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