Research Summary. 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. Copyright 2022 MDU Resources Group, Inc.. All rights reserved. Corporate Employee (Current Employee) - Bismarck, ND - January 17, 2014. 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. Financial Contact:Jason Vollmer, MDU Resources vice president and chief financial officer, 701-530-1755. Referrals increase your chances of interviewing at Mercury Insurance by 2x. In just the past four years, it has completed 12 acquisitions and increased revenues 23%. $4,900 to the Republican Party. Loading. MDU Resources is ranked #7 on the Best Companies to Work For in North Dakota list. Our estimates are verified against BLS, Census, and current job openings data for accuracy. Knife River: Leading Vertically Integrated Aggregates Producer and Provider of Construction Materials and Contracting Services Focused on Organic and M&A Growth On Nov. 3, MDU Resources announced it was undertaking a strategic review of its construction services business, MDU Construction Services Group, Inc. This is a growing company where the executive leadership really focuses on a work/life balance. MDU Resources expects there will be no changes to its historic dividend practices through the completion of the spinoff. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. ESI, Inc. is headquartered in Cincinnati, Ohio, with locations in Dayton, Cleveland and Columbus. Bismarck, ND 58501-4092, 2023 MDU Construction Services Group, Inc.. All rights reserved. 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 data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. MDU Resources is an industry leader with 10,140 employees and an annual revenue of $5.7B that is headquartered in North Dakota. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. We are always looking at our business mix for opportunities to enhance shareholder value. 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. 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. 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 Group, Inc. engages in regulated energy delivery, and construction materials and services businesses in the United States. Changes in such assumptions and factors could cause actual future results to differ materially. Necessary cookies are absolutely essential for the website to function properly. 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. Terry Hildestad donated 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. You will love working at Western! Cenergy International Services Employment, Basin Electric Power Cooperative Employment, CrossCountry Freight Solutions Employment, Heavy Equipment Operator MDU Resources Jobs, Apprentice Electrician MDU Resources Jobs. Intermountain Natural Gas Headquarters is located at 555 S. Cole Road, Boise, ID 83709. Help us make this company more transparent. 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. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. 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. 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 resources group inc. mdu resources group. Our construction services bring power to communities and neighborhoods across the country. 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. The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP. 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. With the Bizapedia Pro Search service you will get unlimited searches via our various search forms,
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. 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. We will diligently work through the separation process to ensure each company is optimized to deliver value for shareholders.. 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. We expect Knife River shares to be distributed immediately upon the completion of the spinoff transaction, which we expect to occur during 2023. MDU Resources is committed to establishing strong capital allocation strategies for each business that align with each businesss long-term goals. None of the information on this page has been provided or approved by MDU Resources. The company's filing status is listed as Active and its File Number is 1981716. Employees at the parent company, MDU Resources, earn $52,489 whereas employees at Young Brothers Inc Contractors earn $51,612, on average. Below youll find a list of the types of career opportunities you can find at Knife River. How did this transaction come about? The largest addition of electric utility territory came in 1945, when MDU purchased the Dakota Public Service Company (DPSC) from NorthWestern Public Service Company (NWPS) of Huron, South Dakota. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. 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. MDU Construction Services Group employs more than 7,500 skilled employees across the country. This cookie is set by GDPR Cookie Consent plugin. Compelling Benefits of the Separation 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. 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. The data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. 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. Necessary cookies are absolutely essential for the website to function properly. 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. -Jenna Lyons. Conference Call What is the strategic rationale for spinning off Knife River? 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. When is the spinoff expected to be completed? The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. Rebecca Dorwart has 6 months experience as Human Resources Special Projects Manager. 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. What approvals are required? Further details related to capital structure, governance and other elements of the transaction will be announced at a later date. Posted: January 31, 2023. 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. 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. Looking for Montana-Dakota Utilities? Post-separation, MDU Resources intends to maintain a dividend policy consistent with its historic practice. 1150 W. Century Ave. In addition,
Nonetheless, actual results may differ materially from the projected results expressed in the forward-looking statements. MDU Resources has great employee retention with staff members usually staying with the company for 5.3 years. MDU Resources is a Fortune 1000 company with operations, customers and employees across the country. The two 'Eastern Montana' utilities became the nucleus of Montana-Dakota Utilities' operations. Enter the location for your project and choose the product youd like. Tailored capital allocation strategies: Each company will have enhanced flexibility to deploy capital to its specific growth opportunities. These cookies track visitors across websites and collect information to provide customized ads. It is mandatory to procure user consent prior to running these cookies on your website. 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. 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. No. I am an MDU Resources shareholder. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. Overall MDU Resources is a great place to work with competitive salaries, leave time and other benefits. "Our strategic review of our construction services business also is well underway. It served approximately 938,867 residential, commercial, and industrial customers in 335 communities and adjacent rural areas. Cascade is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". This category only includes cookies that ensures basic functionalities and security features of the website. MDU Resources company charter does not require a shareholder vote to complete the transaction. MDU Resources generates $5.7B in revenue. MDU Resources Group, Inc. All rights reserved. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 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 Exchange Commission in connection with the planned spinoff of its construction materials business, Knife River Corporation. Main Telephone (866) 760-4852. The cookie is used to store the user consent for the cookies in the category "Performance". For more information about MDU Resources, visit the company's website at www.mdu.com. 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 cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Annual Report. 7% of MDU Resources employees are Hispanic or Latino. MDU Resources Group Corporate Headquarters, Office Locations and Addresses | Craft.co 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. The largest donation made to a political party by an MDU Resources employee was 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. The separation will result in two independent, publicly traded and well . All forward-looking statements in this news release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. 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. Our services include natural gas and pipelineplacement, directional drilling, cable and duct plowing, hydroexcavation, and conduit and vault installation. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. MDU Construction Services Group provides market-leading specialty contracting services across the U.S., primarily electrical and mechanical, and transmission and distribution services. United States, North Dakota, Bismarck, Utilities, Oil & Energy, Information Technology & Services. Our expertise includes refinery and plant construction and maintenance, as well as automotive, renewable energy and steel facility installations and maintenance. Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. Necessary cookies are absolutely essential for the website to function properly. [13], 2016 Portland gas explosion - Loy Clark lawsuits, Last edited on 24 December 2022, at 15:11, Public Utility Holding Company Act of 1935, "MDU Resources Announces 2017 Financial Results, Initiates Guidance for 2018", "MDU - Mdu Resources Group Inc Profile | Reuters", "About Loy Clark Construction - Serving the Portland Metro & Washington", "Pipeline at NW 23rd Ave. blast site was not pierced", "Oregon natural gas explosion injures eight, destroys building", "NW 23rd blast: Excavator dug on wrong side of street, caused natural gas explosion, report says", "10 lawsuits filed in aftermath of NW 23rd Ave. explosions", "Portland bagel shop owners sue pipeline company over 2016 explosion that destroyed business", "Cascade Natural Gas Corp. merger completed", "MDU Resources to Acquire Intermountain Gas Company", https://en.wikipedia.org/w/index.php?title=MDU_Resources&oldid=1129292950, This page was last edited on 24 December 2022, at 15:11. We're dedicated to providing environmentally friendly and energy-efficient solutions that meet our clients technology and power requirements. It generated $169 million of EBITDA in 2021. 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. Based on our data team's research, David L. Goodin is the MDU Resources's CEO. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. But opting out of some of these cookies may affect your browsing experience. MDU Resources Reports Third Quarter Earnings; Knife River Has Record Quarterly Revenue. 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. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. In 1985, the corporation realigned its operations under the name MDU Resources Group, Inc. 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. It also offers utility excavation, and mechanical piping and services; and manufactures and distributes transmission line construction equipment and other supplies. 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. Why isnt there a shareholder vote? Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. The Registered Agent on file for this company is Linda Beery and is located at 3020 Saturn Street Suite 101, Brea, CA 92821. 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 Group, Inc. is a power company based in Bismarck, ND. Cascade Natural Gas Corporation Headquarters is located at 8113 West Grandridge Boulevard, Kennewick . 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. This website uses cookies to improve your experience while you navigate through the website. 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 Construction Services Group employs more than 7,500 skilled employees across the country. By continuing to use this application, you consent to the use of cookies in accordance with our. 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 But opting out of some of these cookies may have an effect on your browsing experience. These cookies ensure basic functionalities and security features of the website, anonymously. 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. 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. Search Keywords. 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. We also use third-party cookies that help us analyze and understand how you use this website. By continuing to use this application, you consent to the use of cookies in accordance with our. Executive Summary. Our customers are as varied as our experience. On average, employees at MDU Resources stay with the company for 5.3 years. Both companies eventually realized the lawsuit was unproductive and they ceased litigation.[3]. This site is NOT monitored 24 hours a day. The event can be accessed atwww.mdu.com. In 1992, it acquired its first aggregates-mining company in central California, and has continued to expand its construction materials business . The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to closing, as will the specific transaction structure. 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 and Knife Rivers proven management teams will be able to more directly focus resources and capital to achieve their respective strategic goals, Goodin said. For more information about MDU Resources, visitwww.mdu.comor contact the Investor Relations Department at[emailprotected]. Help other job seekers by rating MDU Resources. The company was founded in 1924 and is based in Bismarck, North Dakota. The separation is expected to be completed in 2023. It performs integrated contracting services. 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. 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.
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