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Since MDU Resources first aggregate company acquisition in 1992, weve built Knife River into a leading aggregates-based construction materials business. Why isnt there a shareholder vote? by Terry Hildestad. "Our strategic review of our construction services business also is well underway. Guests; Log in; Career Center. It also distributes cement and asphalt oil. $4,900 to the Republican Party. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. MDU Construction Services Group provides a full spectrum of construction solutions, from underground utilities and excavation to electrical, mechanical and fire suppression systems as well as transmission and distribution line construction. 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. Utilize our advanced search form to filter the search results by Company Name, City, State, Postal Code, 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. It generated $78 million of EBITDA in 2021. 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. MDU Resources is in the electric power natural gas construction industry. It performs integrated contracting services. Help us make this company more transparent. The national average salary for an employee at MDU Resources Group is $55,677 per year, or $26.77 an hour. Cascade Natural Gas Corporation Headquarters is located at 8113 West Grandridge Boulevard, Kennewick . Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. Terry Hildestad donated We are always looking at our business mix for opportunities to enhance shareholder value. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Amazing things happen when you're having fun and doing something you love. In addition, all pages on Bizapedia will be We also use third-party cookies that help us analyze and understand how you use this website. The staff at MDU Resources come from unusually diverse demographic backgrounds. 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. 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. The company strongly encourages investors to review the consolidated financial statements in their entirety and to not rely on any single financial measure. These cookies will be stored in your browser only with your consent. Company Mdu Resources Group Inc. The Registered Agent on file for this company is Linda Beery and is located at 3020 Saturn Street Suite 101, Brea, CA 92821. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 Our services include natural gas and pipelineplacement, directional drilling, cable and duct plowing, hydroexcavation, and conduit and vault installation. 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. Pay at MDU Resources is significantly lower than some of its highest paying competitors, like. Employees at the parent company, MDU Resources, earn $52,489 whereas employees at Young Brothers Inc Contractors earn $51,612, on average. About Knife River 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). Second Quarter 2022 Financial Results Analytical cookies are used to understand how visitors interact with the website. Jan 2004 - Mar 201511 years 3 months. 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. For more information, visitwww.kniferiver.com. 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. from 8 AM - 9 PM ET. You also have the option to opt-out of these cookies. We are taking an important step to significantly enhance the value inherent in our businesses by creating two focused, independent publicly traded companies, said David L. Goodin, president and CEO of MDU Resources. The cookie is used to store the user consent for the cookies in the category "Analytics". 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. Compelling Benefits of the Separation This cookie is set by GDPR Cookie Consent plugin. MDU Resources has 10,140 employees, of which 24 are in a leadership position. 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. About MDU ResourcesMDU 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. The average employee at MDU Resources makes $52,489 per year. 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. 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 employees are most likely to be members of the republican party. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. We work underground and overhead in the transmission and distribution industry. For more information about MDU Resources, visit the company's website at www.mdu.com. Financial Contact:Jason Vollmer, MDU Resources vice president and chief financial officer, 701-530-1755. These cookies track visitors across websites and collect information to provide customized ads. MDU Resources is committed to establishing strong capital allocation strategies for each business that align with each businesss long-term goals. In just the past four years, it has completed 12 acquisitions and increased revenues 23%. MDU Resources Locations Bismarck, ND HQ Hiring Albany, OR Beaumont, TX Belgrade, MT Bemidji, MN Bend, OR Billings, MT Hiring Bremerton, WA Bryan, TX Burleson, TX Casper, WY Central Point, OR Supervised and managed all personnel, work activities and . For more information about MDU Resources, visitwww.mdu.comor contact the Investor Relations Department at[emailprotected]. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. 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. Get email updates for new Senior Process Analyst jobs in Brea, CA. How long have you been considering this? This site is NOT monitored 24 hours a day. Claiming and updating your company profile on Zippia is free and easy. The Company's Electric segment generates, transmits, and distributes electricity. Early history[ edit] Advisors if we've collected "Sales Lead Information" for a given company, it will be displayed on the Join an amazing team that is consistently recognized for our achievements and culture, including our most recent Forbes award of being one of America's Best Midsize Employers for 2023! Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP. This cookie is set by GDPR Cookie Consent plugin. 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. Fax: 701-323-3104. 7% of MDU Resources employees are Hispanic or Latino. It is mandatory to procure user consent prior to running these cookies on your website. They ensure a project is completed on time and within budget. A strong infrastructure is the heart of our country's economy. We provide industry leading services with a focus on safety. 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. The cookies is used to store the user consent for the cookies in the category "Necessary". Some of Rebecca Dorwart's colleagues are Mark Haag, Korey Fried, Eric Hope, Ben Morrison, Amanda Kadrmas, Ron Kutzler, Sheri Berogan, Christy Dirk-senn. Posted: January 31, 2023. 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 separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. Throughout this news release, MDU Resources presents financial information prepared in accordance with GAAP, as well as Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), which is considered a non-GAAP financial measure. 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. 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. This website uses cookies to improve your experience while you navigate through the website. Rebecca Dorwart's peers at other companies are Kris Vosgerau, Craig Walz, Ryan Kuchenski, Shirley Curt, Tom Herman, Curtis Cross, Damien Craig, Karl Jones. 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. No. MDU Resources expects approximately 70% of its pro forma EBITDA to be generated from its regulated businesses, providing low-risk, stable returns to shareholders. Knife River is always looking for good people to join our team. Have you worked at MDU Resources? 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. Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. 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. But opting out of some of these cookies may have an effect on your browsing experience. 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. What will happen to my outstanding stock? The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to closing, as will the specific transaction structure. For more information about MDU Resources, visit www.mdu.com or contact the Investor Relations Department at [emailprotected]. We also use third-party cookies that help us analyze and understand how you use this website. Some of the competitors of MDU Resources are Portland General Electric, The Williams Companies, and Peabody Energy. Project Managers are responsible for planning, implementing, and managing projects. When typing in this field, a list of search results will appear and be automatically updated as you type. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. 1200 West Century Avenue. It is expected that MDU Resources shareholders will retain their current shares of MDU Resources stock and also receive a pro rata distribution of shares of Knife River stock in a transaction that is expected to be tax free. 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. You also have the option to opt-out of these cookies. While the highest-paid employees at MDU Resources Group can earn over $92,000 a year, the lowest-paid employees earn less than . 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 . About MDU Resources Phone: 800-638-3278. The companys utilities provide affordable and reliable electric and natural gas service to 1.2 million customers across eight states. For more information about MDU Resources, visit the company's website at www.mdu.com. MDU Resources employees are most likely to be members of the Republican Party.
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