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. MDU Resources Group, Inc. is a power company based in Bismarck, ND. 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. 1025 1250 W. Century Ave. Bismarck, ND 58501 Intermountain is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". Intermountain Natural Gas Headquarters is located at 555 S. Cole Road, Boise, ID 83709. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. MDU Resources got its start in 1924 as the Minnesota Northern Power Company. MDU Resources Group engages in the regulated energy delivery, construction materials and services businesses. All forward-looking statements in this news release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. But opting out of some of these cookies may have an effect on your browsing experience. The data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. MDU Construction Services Group This website uses cookies to improve your experience while you navigate through the website. 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. 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. Corporate Employee (Current Employee) - Bismarck, ND - January 17, 2014. When is the spinoff expected to be completed? Our estimates are verified against BLS, Census, and current job openings data for accuracy. Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. Help other job seekers by rating MDU Resources. 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. Forward-Looking Statements About Knife River 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. 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. We work underground and overhead in the transmission and distribution industry. 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 Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. We also use third-party cookies that help us analyze and understand how you use this website. Amazing things happen when you're having fun and doing something you love. It also provides cathodic protection and other energy-related services. This cookie is set by GDPR Cookie Consent plugin. However with being a great place to work comes longevity. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Enhances MDU Resources strategic focus on regulated utilities, natural gas pipelines and related infrastructure services. [8] Ten lawsuits were filed against Loy Clark in November 2018 and two of which were by insurers who had paid out claims. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. Tailored capital allocation strategies: Each company will have enhanced flexibility to deploy capital to its specific growth opportunities. company profile page along with the rest of the general data. Post-spinoff, MDU Resources intends to maintain a policy consistent with its historic practices. The data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. The Oregon Public Utility Commission faulted MDU subsidiary[4][5] Loy Clark for the 2016 Portland gas explosion that leveled a building, sent asbestos fragments flying, damaged numerous buildings and injured eight people. MDU Resources Group corporate office is located in 1200 W Century Ave, Bismarck, North Dakota, 58503, United States and has 791 employees. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. United States, North Dakota, Bismarck, Utilities, Oil & Energy, Information Technology & Services. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. MDU Resources is in the electric power natural gas construction industry. Our Board of Directors regularly reviews opportunities to unlock value for our shareholders. 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. View original content to download multimedia. The company's principal address . Knife River Corporation is now among the largest sand and gravel producing companies in the U.S. 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. MDU Resources is ranked #7 on the Best Companies to Work For in North Dakota list. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. MDU Construction Services Group employs more than 7,500 skilled employees across the country. We also use third-party cookies that help us analyze and understand how you use this website. 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. 5 on 2022 EC&M Top 50 Electrical Contractors List, Your specialty contracting services provider. 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 Corporate Headquarters, Office Locations and Addresses | Craft.co We also use third-party cookies that help us analyze and understand how you use this website. Communities Served North Dakota South Dakota Montana Wyoming Analytical cookies are used to understand how visitors interact with the website. Below youll find a list of the types of career opportunities you can find at Knife River. The staff at MDU Resources come from unusually diverse demographic backgrounds. 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. They ensure a project is completed on time and within budget. On Nov. 3, MDU Resources announced it was undertaking a strategic review of its construction services business, MDU Construction Services Group, Inc. See if MDU Resources is hiring near you. 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. Our Customer Service Center can assist you with many account related requests, including checking balances, making payments, starting or stopping service, and much more. MDU Resources has 10,140 employees, of which 24 are in a leadership position. If you experience any issues with this process, please contact us for further assistance. Overall MDU Resources is a great place to work with competitive salaries, leave time and other benefits. The Company's Electric segment generates, transmits, and distributes electricity. The cookies is used to store the user consent for the cookies in the category "Necessary". with up to 5 times the number of maximum matches per search vs. non-subscribers. Pay at MDU Resources is significantly lower than some of its highest paying competitors, like. 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 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. "With the substantial progress we have made, we are expecting the spinoff of Knife River to be complete in the second quarter of 2023," said David L. Goodin, president and CEO of MDU Resources. This website uses cookies to improve your experience while you navigate through the website. We expect Knife River shares to be distributed immediately upon the completion of the spinoff transaction, which we expect to occur during 2023. 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. 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. You also have the option to opt-out of these cookies. Selecting the value will change the page content. MDU Resources to discuss separation and second quarter 2022 financial results at 8:30 a.m. EDT today. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. Our expertise includes refinery and plant construction and maintenance, as well as automotive, renewable energy and steel facility installations and maintenance. Some of Rebecca Dorwart's colleagues are Mark Haag, Korey Fried, Eric Hope, Ben Morrison, Amanda Kadrmas, Ron Kutzler, Sheri Berogan, Christy Dirk-senn. However, there's a significant range between the top 10 percent of earners and the bottom 10 percent of earners. Looking for Montana-Dakota Utilities? Montana-Dakota Utilities Headquarters is located at 400 N. Fourth Street, Bismarck, ND 58501-4092. The company's filing status is listed as Active and its File Number is 1981716. 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 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. Western National Group. $20 Hourly. Rebecca Dorwart has 6 months experience as Human Resources Special Projects Manager. SEC Filings. Search Keywords. 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. Here are further demographic highlights of the leadership team: The MDU Resources executive team is 29% female and 71% male. The event can be accessed atwww.mdu.com. You must click the activation link in order to complete your subscription. 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 . It generated $169 million of EBITDA in 2021. by Terry Hildestad. Advisors Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 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. 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. 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.". In 1992, it acquired its first aggregates-mining company in central California, and has continued to expand its construction materials business . This website uses cookies to improve your experience while you navigate through the website. 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. Posted: January 31, 2023. -Jenna Lyons. At MDU Resources, we promise to treat your data with respect and will not share your information with any third party. Skip to content Skip to main nav. 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. 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. 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. 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. If you are in need of enterprise level search, please consider signing up for a Bizapedia Pro Search account as described on this page. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 It does not store any personal data. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. We build complex, diverse projects for our customers and were always looking for team members to contribute to our success. MDU Resources Group, Inc. Anne Jones 701-530-1015 or 800-437-8000, ext. These cookies do not store any personal information. You can unsubscribe from these emails at any time. It generated $321 million of EBITDA in 2021. Main Telephone (866) 760-4852. You can sign up for additional alert options at any time. For more information about MDU Resources, visit the company's website at www.mdu.com. With respect to forward-looking statements contained herein, a number of factors could cause actual outcomes to vary materially. You will love working at Western! The company anticipates completing the strategic review in the first half of 2023. The Registered Agent on file for this company is Linda Beery and is located at 3020 Saturn Street Suite 101, Brea, CA 92821. The average employee at MDU Resources makes $52,489 per year. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. None of the information on this page has been provided or approved by MDU Resources. MDU Resources is an industry leader with 10,140 employees and an annual revenue of $5.7B that is headquartered in North Dakota. MDU Resources Group, Inc. 4.6 Glendive, MT Jobs $76.8k-96k yearly 2d ago Software Developer Intern (2 positions) MDU Resources Group, Inc. 4.6 Bismarck, ND Jobs $17.5 hourly 4d ago 4/10 Production Assembler (1st Shift) Cenergy 4.7 Simi Valley, CA Jobs $20-22 hourly 7d ago Customer Service Representative I MDU Resources Group, Inc. 4.6 What will happen to my outstanding stock? 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 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. Terry Hildestad donated 1150 W. Century Ave. None of the information on this page has been provided or approved by MDU Resources. 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. In 2001, Knife River sold its remaining coal-mining interests. 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. We are always looking at our business mix for opportunities to enhance shareholder value. On average, employees at MDU Resources stay with the company for 5.3 years. The company is 37.8% female and 18.4% ethnic minorities. 79 were here. The staff at MDU Resources come from unusually diverse demographic backgrounds. 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. Analytical cookies are used to understand how visitors interact with the website. The cookie is used to store the user consent for the cookies in the category "Other. Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. [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. Based on our data team's research, David L. Goodin is the MDU Resources's CEO. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US. 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. 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 had announced on Aug. 4 its intent to separate Knife River as an independent, publicly traded company. ESI, Inc. is headquartered in Cincinnati, Ohio, with locations in Dayton, Cleveland and Columbus. 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. MDU Resources is a Fortune 1000 company with operations, customers and employees across the country. Your entire office will be able to use your search subscription. Knife River generated $293 million of EBITDA in 2021. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. I am an MDU Resources shareholder. Help us make this company more transparent. mdu resources inc. 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. 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***. 10-K. Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to closing, as will the specific transaction structure. The employee data is based on information from people who have self-reported their past or current employments at MDU Resources. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. 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 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.. Visit the Career Advice Hub to see tips on interviewing and resume writing. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. "Our strategic review of our construction services business also is well underway. MDU Construction Services Group has resources across the country to get any job done. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. Non-GAAP Financial Measures 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. MDU Resources employees are most likely to be members of the republican party. 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 is headquartered in Bismarck, ND and has 69 office locations located throughout the US.See if MDU Resources is hiring near you. The companys utilities provide affordable and reliable electric and natural gas service to 1.2 million customers across eight states. This site is NOT monitored 24 hours a day.