Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 Bismarck, ND 58503, MDU Construction Services Group MDU Resources expects approximately 70% of its pro forma EBITDA to be generated from its regulated businesses, providing low-risk, stable returns to shareholders. With the Bizapedia Pro Search service you will get unlimited searches via our various search forms, Spinoff of Knife River expected to unlock significant shareholder value. 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. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. Conference Call Necessary cookies are absolutely essential for the website to function properly. 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. 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. No. 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 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. After submitting your request, you will receive an activation email to the requested email address. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. 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. Our customers are as varied as our experience. Company Mdu Resources Group Inc. [6] The damages totaled $17.2 million. Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. Dennis W. Johnson, chair of MDU Resources board, said, The board regularly assesses MDU Resources business, operations and value creation opportunities. By continuing to use this application, you consent to the use of cookies in accordance with our. Knife River: Leading Vertically Integrated Aggregates Producer and Provider of Construction Materials and Contracting Services Focused on Organic and M&A Growth You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. $20 Hourly. 1150 W. Century Ave. 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. Here are further demographic highlights of the leadership team: The MDU Resources executive team is 29% female and 71% male. What will happen to my outstanding stock? These cookies track visitors across websites and collect information to provide customized ads. MDU Construction Services Group 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. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. This website uses cookies to improve your experience while you navigate through the website. Careers Featured projects Our customers are as varied as our experience. Amazing things happen when you're having fun and doing something you love. 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. This category only includes cookies that ensures basic functionalities and security features of the website. 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. Your entire office will be able to use your search subscription. Search Keywords. [8] Ten lawsuits were filed against Loy Clark in November 2018 and two of which were by insurers who had paid out claims. Although MDU Resources believes that its expectations are based on reasonable assumptions, current expectations involve a number of risks and uncertainties. MDU Resources Group, Inc. Marketing Contacts Contacts (5/13) Name Title State . Intermountain is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". Knife River has a successful track record of growth. It performs integrated contracting services. 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. 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. 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. Visit the Career Advice Hub to see tips on interviewing and resume writing. ESI, Inc. honored with industry Safety Achievement Award for outstanding injury and illness statistics MDU Resources Group, Inc. Anne Jones 701-530-1015 or 800-437-8000, ext. We work underground and overhead in the transmission and distribution industry. 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. It does not store any personal data. MDU Resources is in the electric power natural gas construction industry. The two 'Eastern Montana' utilities became the nucleus of Montana-Dakota Utilities' operations. Location United States, North Dakota, Bismarck Last Update 2021-06-04 Remove my profile . This website uses cookies to improve your experience while you navigate through the website. 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. MDU Resources board believes Knife River is poised to benefit from significant investments at the federal and local levels in infrastructure development and upgrades. 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. It generated $321 million of EBITDA in 2021. Analytical cookies are used to understand how visitors interact with the website. Executive Summary. The average employee at MDU Resources makes $52,489 per year. This will also involve communication with the various functional areas and assistance in the development of training programs. MDU Resources expects there will be no changes to its historic dividend practices through the completion of the spinoff. In 1985, the corporation realigned its operations under the name MDU Resources Group, Inc. The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP. You also have the option to opt-out of these cookies. 02/24/2023. 67% of the management team is White. It has an unusually high proportion of employees who are members of the Republican Party, at 73.0%. MDU Construction Services Group has resources across the country to get any job done. How did this transaction come about? You will love working at Western! The Company's Electric segment generates, transmits, and distributes electricity. Changes in such assumptions and factors could cause actual future results to differ materially. 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 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. For more information about MDU Resources, visit the company's website at www.mdu.com. But opting out of some of these cookies may have an effect on your browsing experience. MDU Resources has great employee retention with staff members usually staying with the company for 5.3 years. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. 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. These cookies do not store any personal information. The company's common stock began trading on the New York Stock Exchange under the ticker symbol MDU in 1948. MDU Resources Group corporate office is located in 1200 W Century Ave, Bismarck, North Dakota, 58503, United States and has 791 employees. It generated $169 million of EBITDA in 2021. 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. MDU Resources company charter does not require a shareholder vote to complete the transaction. MDU Resources Group, Inc. is a U.S.-based corporation supplying essential products and services through its regulated energy delivery and construction materials and services businesses. By providing your email address below, you are providing consent to MDU Resources to send you the requested Investor Email Alert updates. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. By continuing to use this application, you consent to the use of cookies in accordance with our. MDU Resources Group, Inc. All rights reserved. But opting out of some of these cookies may have an effect on your browsing experience. 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. Why isnt there a shareholder vote? We also use third-party cookies that help us analyze and understand how you use this website. $4,900 to the Republican Party. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US.See if MDU Resources is hiring near you. These cookies track visitors across websites and collect information to provide customized ads. Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. However with being a great place to work comes longevity. 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. [8] Two additional lawsuits were filed against Loy Clark in December 2019. Rebecca Dorwart's peers at other companies are Kris Vosgerau, Craig Walz, Ryan Kuchenski, Shirley Curt, Tom Herman, Curtis Cross, Damien Craig, Karl Jones. 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. Statement of Changes in Beneficial Ownership. While logged in and authenticated, you will not be asked to solve any complicated Recaptcha V2 challenges. 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. MDU Resources generates $5.7B in revenue. 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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. They ensure a project is completed on time and within budget. If you are in need of enterprise level search, please consider signing up for a Bizapedia Pro Search account as described on this page. Project Managers are responsible for planning, implementing, and managing projects. In 1992, it acquired its first aggregates-mining company in central California, and has continued to expand its construction materials business . 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. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. Enhances MDU Resources strategic focus on regulated utilities, natural gas pipelines and related infrastructure services. 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. 12 on list of top 600 specialty contractors. See if MDU Resources is hiring near you. The Pipeline and Midstream segment provides natural gas transportation, underground storage, and gathering services primarily in the Rocky Mountain and northern Great Plains regions. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. In the late 1960s, MDU partnered with NWPS and Otter Tail Power in the construction of the Big Stone power plant near Big Stone City, South Dakota. with up to 5 times the number of maximum matches per search vs. non-subscribers. 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. 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. This cookie is set by GDPR Cookie Consent plugin. For more information about MDU Resources, visitwww.mdu.comor contact the Investor Relations Department at[emailprotected]. This site is protected by reCAPTCHA and the Google. 400 N. Fourth St. 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 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. How long have you been considering this? MDU Resources Reports Third Quarter Earnings; Knife River Has Record Quarterly Revenue. The firm's holdings initially consisted of the electric utility at Cushing, Oklahoma (later sold off to Oklahoma Gas & Electric), Minnesota Electric Light & Power Company, which served the Bemidji, Minnesota area (sold in 1925 to the W.B. Primary Address. Skip to content Skip to main nav. MDU Resources Group engages in the regulated energy delivery, construction materials and services businesses. Creates financial and strategic flexibility for each company to focus on core business opportunities. Help us make this company more transparent. MDU Resources has 10,140 employees, of which 24 are in a leadership position. 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). 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. 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. from 8 AM - 9 PM ET. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. Claiming and updating your company profile on Zippia is free and easy. 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. 10-K. Register for your account and get started with our industry leading people contacts search engine. Some of Rebecca Dorwart's colleagues are Mark Haag, Korey Fried, Eric Hope, Ben Morrison, Amanda Kadrmas, Ron Kutzler, Sheri Berogan, Christy Dirk-senn. 5 on 2022 EC&M Top 50 Electrical Contractors List, Your specialty contracting services provider. [7] Additionally, OSHA cited and fined Loy Clark for safety violations as a result of this incident. Have you worked at MDU Resources? 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. The MDU Resources board believes Knife River is ready to continue its success as a stand-alone public company and take full advantage of anticipated work resulting from federal infrastructure funding. 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. Help other job seekers by rating MDU Resources. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. It also distributes cement and asphalt oil. 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. You must click the activation link in order to complete your subscription. Analytical cookies are used to understand how visitors interact with the website. Since its first aggregate company acquisition in 1992, MDU Resources has built Knife River into a leading aggregates-based construction materials business. ESI, Inc. is headquartered in Cincinnati, Ohio, with locations in Dayton, Cleveland and Columbus. To protect our site, we cannot process your request right now. 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. This website uses cookies to improve your experience while you navigate through the website. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. 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. 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. Referrals increase your chances of interviewing at Mercury Insurance by 2x. The largest donation made to a political party by an MDU Resources employee was 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. 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. 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: The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. 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 . 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. We build complex, diverse projects for our customers and we're always looking for team members to contribute to our success. 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 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. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. 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. The Natural Gas Distribution segment distributes natural gas and offers related value-added services. Details of Separation Transaction 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 separation is expected to be completed in 2023. After extensive research and analysis, Zippia's data science team found that: 38% of MDU Resources employees are women, while 62% are men. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools.

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