Communities Served North Dakota South Dakota Montana Wyoming Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. Executive Summary. Updates will be provided as the company moves toward completing the spinoff. This is a growing company where the executive leadership really focuses on a work/life balance. 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. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. Analytical cookies are used to understand how visitors interact with the website. You can unsubscribe from these emails at any time. MDU Resources had announced on Aug. 4 its intent to separate Knife River as an independent, publicly traded company. You also have the option to opt-out of these cookies. The average employee at MDU Resources makes $52,489 per year. But opting out of some of these cookies may have an effect on your browsing experience. Our services include natural gas and pipelineplacement, directional drilling, cable and duct plowing, hydroexcavation, and conduit and vault installation. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. This cookie is set by GDPR Cookie Consent plugin. Here are further demographic highlights of the leadership team: The MDU Resources executive team is 29% female and 71% male. Rebecca Dorwart's peers at other companies are Kris Vosgerau, Craig Walz, Ryan Kuchenski, Shirley Curt, Tom Herman, Curtis Cross, Damien Craig, Karl Jones. 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. if the company chooses to hide the private information on their profile from the general public. COMMERCIAL RESOURCES TAX GROUP, INC. is a California Stock Corporation - Ca - General filed on April 1, 1997. [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. Employees at the parent company, MDU Resources, earn $52,489 whereas employees at Young Brothers Inc Contractors earn $51,612, on average. 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. 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! As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. 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 data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. These cookies track visitors across websites and collect information to provide customized ads. We are sorry, but your computer or network may be sending automated queries. Conference Call Non-GAAP Financial Measures These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. 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. This website uses cookies to improve your experience while you navigate through the website. As it expanded across Eastern Montana and western North Dakota, it acquired the electric franchise for Miles City, Montana, after an acquisition struggle with the Montana Power Company.[3]. You can sign up for additional alert options at any time. 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. Referrals increase your chances of interviewing at Mercury Insurance by 2x. MDU Resources Reports Third Quarter Earnings; Knife River Has Record Quarterly Revenue. Research Summary. 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. company profile page along with the rest of the general data. These cookies do not store any personal information. 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. Second Quarter 2022 Financial Results This cookie is set by GDPR Cookie Consent plugin. Following the planned separation, MDU Resources will remain headquartered in Bismarck, North Dakota, and continue to be the parent company for MDU Resources existing regulated electric and natural gas utilities (Cascade Natural Gas Corp., Intermountain Gas Co., Montana-Dakota Utilities Co.), natural gas pipeline business (WBI Energy, Inc.) and construction services company (MDU Construction Services Group, Inc.). 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). Since MDU Resources first aggregate company acquisition in 1992, weve built Knife River into a leading aggregates-based construction materials business. by Terry Hildestad. 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. Amazing things happen when you're having fun and doing something you love. It generated $78 million of EBITDA in 2021. 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. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. By providing your email address below, you are providing consent to MDU Resources to send you the requested Investor Email Alert updates. 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. Company Mdu Resources Group Inc. 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. 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. 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. Spinoff of Knife River expected to unlock significant shareholder value. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. 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. These cookies ensure basic functionalities and security features of the website, anonymously. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US.See if MDU Resources is hiring near you. Corporate Employee (Current Employee) - Bismarck, ND - January 17, 2014. 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 company's common stock began trading on the New York Stock Exchange under the ticker symbol MDU in 1948. This website uses cookies to improve your experience while you navigate through the website. $20 Hourly. MDU Resources Group is traded on the New York Stock Exchange as "MDU." For more information about MDU Resources, visit the company's website at www.mdu.com. The average employee at MDU Resources makes $52,489 per year. Skip to content Skip to main nav. We also use third-party cookies that help us analyze and understand how you use this website. This site is NOT monitored 24 hours a day. It is headquartered in Bismarck, North Dakota, and operates in 48 states. Rebecca Dorwart has 6 months experience as Human Resources Special Projects Manager. Our Board of Directors regularly reviews opportunities to unlock value for our shareholders. Overall MDU Resources is a great place to work with competitive salaries, leave time and other benefits. Forward-Looking Statements The national average salary for an employee at MDU Resources Group is $55,677 per year, or $26.77 an hour. 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. Our expertise includes refinery and plant construction and maintenance, as well as automotive, renewable energy and steel facility installations and maintenance. After submitting your request, you will receive an activation email to the requested email address. While the highest-paid employees at MDU Resources Group can earn over $92,000 a year, the lowest-paid employees earn less than . We are always looking at our business mix for opportunities to enhance shareholder value. 10-K. These efforts demonstrate our progress and commitment to move toward our goal of creating two pure-play public companies, with one focused on regulated energy delivery and the other on construction materials.". The companies have since partnered on two base-load power plants (Big Stone and Coyote). Founded in 1966, ESI, Inc. is part of the MDU Resources family of companies. Terry Hildestad donated Knife River, which provides construction materials and contracting services throughout the western, central and southern United States, also will remain headquartered in Bismarck. For more information about MDU Resources, visit the company's website at www.mdu.com. The employee data is based on information from people who have self-reported their past or current employments at MDU Resources. 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. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. The company was founded in 1924 and is based in Bismarck, North Dakota. MDU Resources expects approximately 70% of its pro forma EBITDA to be generated from its regulated businesses, providing low-risk, stable returns to shareholders. 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. Looking for Montana-Dakota Utilities? The staff at MDU Resources come from unusually diverse demographic backgrounds. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 The presentation of this additional information is not meant to be considered a substitution for financial measures prepared in accordance with GAAP. MDU Construction Services Group has resources across the country to get any job done. In 2001, Knife River sold its remaining coal-mining interests. 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. About Knife River The companys utilities provide affordable and reliable electric and natural gas service to 1.2 million customers across eight states. mdu resources inc. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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. MDU Resources has 69 locations in the United States. 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 board and our management team are confident that MDU Resources and Knife River will be best positioned as two focused, independent companies. The Registered Agent on file for this company is Linda Beery and is located at 3020 Saturn Street Suite 101, Brea, CA 92821. 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. 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 These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. We expect Knife River shares to be distributed immediately upon the completion of the spinoff transaction, which we expect to occur during 2023. The Natural Gas Distribution segment distributes natural gas and offers related value-added services. The distribution systems in these towns passed into MDU ownership by the early 1940s. While logged in and authenticated, you will not be asked to solve any complicated Recaptcha V2 challenges. 79 were here. 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. In 1985, the corporation realigned its operations under the name MDU Resources Group, Inc. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Republican Party. Posted: January 31, 2023. 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. 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. Compelling Benefits of the Separation Register for your account and get started with our industry leading people contacts search engine. 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.. MDU Resources has great employee retention with staff members usually staying with the company for 5.3 years. [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. Jan 2004 - Mar 201511 years 3 months. But opting out of some of these cookies may have an effect on your browsing experience. Search Keywords. You will love working at Western! MDU Resources is in the electric power natural gas construction industry. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. 5 on 2022 EC&M Top 50 Electrical Contractors List, Your specialty contracting services provider. 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. For more information about MDU Resources, visit www.mdu.com or contact the Investor Relations Department at [emailprotected]. Who is MDU Resources Group Headquarters 1200 W Century Ave, Bismarck, North Dakota, 58503, United States Phone Number (701) 530-1000 Website www.mdu.com Revenue $5.9B Stock Symbol MDU Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment MDU Resources Group's Social Media Is this data correct? 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. 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. It also performs integrated contracting services for most types of aggregate-related construction, including roads, freeways, bridges, residential properties, schools, shopping centers, office buildings and industrial parks. It also provides cathodic protection and other energy-related services. 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. On Nov. 3, MDU Resources announced it was undertaking a strategic review of its construction services business, MDU Construction Services Group, Inc. Necessary cookies are absolutely essential for the website to function properly. 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. By continuing to use this application, you consent to the use of cookies in accordance with our. 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 Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. 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. These forward-looking statements, including key growth strategies, projections, certain assumptions and strategies of MDU Resources and the independent companies following the proposed spinoff, the anticipated benefits of the spinoff, and the expected timing of completion of the spinoff, are only predictions and involve known and unknown risks and uncertainties, many of which are beyond MDU Resources control, and could cause actual results to differ materially from those indicated in such forward-looking statements.
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